River Global Investors LLP Raises Position in Okta, Inc. (NASDAQ:OKTA)

River Global Investors LLP raised its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 69.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 22,144 shares of the company's stock after purchasing an additional 9,114 shares during the quarter. River Global Investors LLP's holdings in Okta were worth $1,646,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Okta

In other Okta news, CEO Todd Mckinnon sold 200,512 shares of the business's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $75.21, for a total transaction of $15,080,507.52. Following the completion of the sale, the chief executive officer now owns 8,495 shares of the company's stock, valued at approximately $638,908.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Larissa Schwartz sold 2,791 shares of the company's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $71.50, for a total value of $199,556.50. Following the completion of the sale, the insider now owns 22,125 shares of the company's stock, valued at $1,581,937.50. 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 available at this hyperlink. Also, CEO Todd Mckinnon sold 200,512 shares of the company's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $75.21, for a total value of $15,080,507.52. Following the completion of the sale, the chief executive officer now directly owns 8,495 shares of the company's stock, valued at $638,908.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 478,584 shares of company stock valued at $35,958,556. Company insiders own 7.00% of the company's stock.

Okta Trading Down 0.6 %

Okta stock traded down $0.43 during trading on Friday, hitting $76.75. The company's stock had a trading volume of 1,060,641 shares, compared to its average volume of 1,884,116. The stock has a market capitalization of $13.04 billion, a price-to-earnings ratio of -91.37, a P/E/G ratio of 17.55 and a beta of 1.02. The stock's fifty day moving average is $74.35 and its 200 day moving average is $86.68. 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 quick ratio of 1.83 and a current ratio of 1.83.

Okta (NASDAQ:OKTA - Get Free Report) last released its 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 analyst estimates of $632.24 million. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. As a group, equities research analysts predict that Okta, Inc. will post 0.19 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on OKTA shares. BTIG Research decreased their price target on Okta from $128.00 to $98.00 and set a "buy" rating on the stock in a research note on Thursday, October 17th. Citigroup decreased their price target on Okta from $115.00 to $110.00 and set a "neutral" rating on the stock in a research note on Thursday, August 29th. UBS Group reduced their price objective on Okta from $120.00 to $108.00 and set a "buy" rating for the company in a report on Thursday, August 29th. DA Davidson reduced their price objective on Okta from $85.00 to $75.00 and set a "neutral" rating for the company in a report on Thursday, October 17th. Finally, Morgan Stanley reduced their price objective on Okta from $100.00 to $92.00 and set an "equal weight" rating for the company in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $99.39.

Okta 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.