Okta, Inc. (NASDAQ:OKTA) Shares Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC increased its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 3,719.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,739 shares of the company's stock after buying an additional 9,484 shares during the period. International Assets Investment Management LLC's holdings in Okta were worth $724,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Caprock Group LLC grew its stake in shares of Okta by 4.7% during the second quarter. Caprock Group LLC now owns 2,856 shares of the company's stock valued at $267,000 after buying an additional 129 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Okta by 11.0% during the 2nd quarter. National Bank of Canada FI now owns 1,315 shares of the company's stock valued at $124,000 after purchasing an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 purchasing an additional 142 shares during the last quarter. CWM LLC lifted its holdings in shares of Okta by 5.3% during the 2nd quarter. CWM LLC now owns 2,910 shares of the company's stock valued at $272,000 after purchasing an additional 147 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its position in shares of Okta by 4.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company's stock valued at $306,000 after acquiring an additional 182 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Larissa Schwartz sold 2,795 shares of the company's stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $92.02, for a total value of $257,195.90. Following the completion of the sale, the insider now directly owns 27,014 shares of the company's stock, valued at approximately $2,485,828.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Todd Mckinnon sold 224,533 shares of the company's stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $74.62, for a total value of $16,754,652.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Larissa Schwartz sold 2,795 shares of the business's stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $92.02, for a total transaction of $257,195.90. Following the transaction, the insider now owns 27,014 shares in the company, valued at approximately $2,485,828.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 478,584 shares of company stock valued at $35,958,556. Insiders own 7.00% of the company's stock.

Okta Price Performance

OKTA traded up $2.54 on Wednesday, reaching $76.61. The company had a trading volume of 2,483,840 shares, compared to its average volume of 1,928,649. Okta, Inc. has a 1 year low of $65.98 and a 1 year high of $114.50. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83. The stock has a 50-day moving average price of $74.84 and a 200-day moving average price of $87.04.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. BMO Capital Markets upped their target price on Okta from $100.00 to $103.00 and gave the company a "market perform" rating in a research report on Thursday, August 29th. Bank of America cut Okta from a "buy" rating to an "underperform" rating and dropped their target price for the company from $135.00 to $75.00 in a research report on Thursday, August 29th. Truist Financial decreased their price target on shares of Okta from $95.00 to $80.00 and set a "hold" rating on the stock in a research note on Thursday, October 17th. Scotiabank decreased their target price on shares of Okta from $104.00 to $92.00 and set a "sector perform" rating on the stock in a research note on Thursday, August 29th. Finally, Royal Bank of Canada decreased their target price on shares of Okta from $125.00 to $101.00 and set an "outperform" rating on the stock in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $99.39.

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.