Ilmarinen Mutual Pension Insurance Co Purchases 25,000 Shares of Okta, Inc. (NASDAQ:OKTA)

Ilmarinen Mutual Pension Insurance Co increased its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 50.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,000 shares of the company's stock after buying an additional 25,000 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in Okta were worth $5,910,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of Jackson Hole Trust bought a new stake in shares of Okta in the 4th quarter valued at about $25,000. Legacy Investment Solutions LLC purchased a new stake in Okta in the third quarter valued at $32,000. TD Private Client Wealth LLC grew its holdings in Okta by 3,507.7% during the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock worth $37,000 after acquiring an additional 456 shares during the period. Brown Brothers Harriman & Co. purchased a new position in Okta in the fourth quarter valued at $43,000. Finally, Modus Advisors LLC purchased a new position in Okta during the fourth quarter worth approximately $44,000. Institutional investors own 86.64% of the company's stock.

Insider Activity

In other Okta news, insider Larissa Schwartz sold 11,552 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the completion of the sale, the insider now owns 22,125 shares of the company's stock, valued at $2,524,241.25. This represents a 34.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jacques Frederic Kerrest sold 390,000 shares of the company's stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $87.09, for a total transaction of $33,965,100.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 761,197 shares of company stock worth $70,662,533. 7.00% of the stock is owned by corporate insiders.

Okta Stock Down 1.0 %

Shares of NASDAQ:OKTA traded down $0.98 during trading on Friday, reaching $100.65. 790,324 shares of the company traded hands, compared to its average volume of 2,521,786. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $118.07. The firm has a fifty day simple moving average of $102.00 and a 200 day simple moving average of $87.56. The firm has a market cap of $17.47 billion, a P/E ratio of -287.70, a price-to-earnings-growth ratio of 6.42 and a beta of 1.07.

Wall Street Analysts Forecast Growth

OKTA has been the topic of a number of research reports. DA Davidson upgraded Okta from a "neutral" rating to a "buy" rating and raised their price objective for the company from $90.00 to $125.00 in a report on Tuesday, March 4th. The Goldman Sachs Group increased their price objective on Okta from $107.00 to $123.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Stifel Nicolaus raised their price target on Okta from $115.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Canaccord Genuity Group increased their target price on shares of Okta from $94.00 to $100.00 and gave the stock a "hold" rating in a research note on Tuesday, March 4th. Finally, Sanford C. Bernstein lowered their target price on shares of Okta from $129.00 to $124.00 and set an "outperform" rating on the stock in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $116.09.

About Okta

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.