Connor Clark & Lunn Investment Management Ltd. Has $26.63 Million Holdings in Okta, Inc. (NASDAQ:OKTA)

Connor Clark & Lunn Investment Management Ltd. increased its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 105.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 358,182 shares of the company's stock after purchasing an additional 184,107 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.21% of Okta worth $26,627,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of OKTA. Future Financial Wealth Managment LLC acquired a new stake in Okta during the third quarter valued at approximately $26,000. Blue Trust Inc. increased its holdings in shares of Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company's stock valued at $28,000 after purchasing an additional 191 shares during the period. EverSource Wealth Advisors LLC increased its stake in Okta by 71.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company's stock valued at $36,000 after buying an additional 142 shares during the period. First Command Advisory Services Inc. bought a new stake in Okta during the second quarter worth approximately $47,000. Finally, nVerses Capital LLC acquired a new stake in Okta in the second quarter worth approximately $47,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Larissa Schwartz sold 2,791 shares of the business's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $71.50, for a total transaction of $199,556.50. Following the transaction, the insider now directly owns 22,125 shares of the company's stock, valued at approximately $1,581,937.50. The trade was a 11.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Jonathan James Addison sold 9,850 shares of the firm's stock in a transaction on Monday, October 14th. The shares were sold at an average price of $77.63, for a total value of $764,655.50. Following the sale, the executive now directly owns 14,601 shares of the company's stock, valued at $1,133,475.63. This represents a 40.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 475,789 shares of company stock worth $35,701,361. Insiders own 7.00% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on OKTA. Wells Fargo & Company dropped their price objective on Okta from $90.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Thursday, October 17th. Barclays assumed coverage on shares of Okta in a research report on Tuesday. They issued an "equal weight" rating and a $81.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Okta from $110.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, August 29th. Scotiabank dropped their target price on shares of Okta from $104.00 to $92.00 and set a "sector perform" rating on the stock in a report on Thursday, August 29th. Finally, Robert W. Baird decreased their price target on shares of Okta from $105.00 to $95.00 and set an "outperform" rating on the stock in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $98.30.

Okta Trading Up 1.8 %

Shares of Okta stock traded up $1.31 during trading hours on Thursday, reaching $75.00. 111,335 shares of the company's stock were exchanged, compared to its average volume of 1,915,647. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18. The company has a 50 day moving average of $74.63 and a two-hundred day moving average of $85.72. Okta, Inc. has a fifty-two week low of $66.69 and a fifty-two week high of $114.50.

Okta (NASDAQ:OKTA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.29. The firm had revenue of $646.00 million during the quarter, compared to analysts' expectations of $632.24 million. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. On average, research analysts expect that Okta, Inc. will post 0.19 EPS for the current fiscal year.

Okta Company Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.