Virtu Financial LLC Buys Shares of 32,766 Okta, Inc. (NASDAQ:OKTA)

Virtu Financial LLC acquired a new stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 32,766 shares of the company's stock, valued at approximately $2,436,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Marshall Wace LLP grew its position in Okta by 117.4% during the second quarter. Marshall Wace LLP now owns 2,273,700 shares of the company's stock valued at $212,841,000 after acquiring an additional 1,227,890 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Okta in the 3rd quarter valued at about $49,373,000. Eminence Capital LP grew its holdings in shares of Okta by 18.1% during the 2nd quarter. Eminence Capital LP now owns 1,989,375 shares of the company's stock worth $186,225,000 after purchasing an additional 305,381 shares during the period. Robeco Institutional Asset Management B.V. increased its position in Okta by 232.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company's stock worth $29,479,000 after purchasing an additional 277,084 shares in the last quarter. Finally, Truist Financial Corp raised its holdings in Okta by 62.5% in the second quarter. Truist Financial Corp now owns 522,057 shares of the company's stock valued at $48,870,000 after buying an additional 200,770 shares during the period. Institutional investors and hedge funds own 86.64% of the company's stock.

Okta Stock Performance

Shares of NASDAQ:OKTA traded down $1.92 on Friday, reaching $81.99. 1,875,880 shares of the company's stock were exchanged, compared to its average volume of 2,139,198. The business's 50-day moving average is $76.84 and its two-hundred day moving average is $83.61. 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 fifty-two week low of $70.56 and a fifty-two week high of $114.50. The firm has a market capitalization of $13.93 billion, a price-to-earnings ratio of -234.26, a PEG ratio of 8.93 and a beta of 1.00.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Canaccord Genuity Group boosted their price objective on shares of Okta from $82.00 to $94.00 and gave the stock a "hold" rating in a research note on Wednesday, December 4th. Bank of America cut shares of Okta from a "buy" rating to an "underperform" rating and decreased their price target for the stock from $135.00 to $75.00 in a research report on Thursday, August 29th. Citigroup raised their price objective on Okta from $90.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, December 4th. Robert W. Baird upped their target price on Okta from $95.00 to $105.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Finally, Scotiabank raised their target price on Okta from $92.00 to $96.00 and gave the company a "sector perform" rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $103.77.

Insiders Place Their Bets

In other Okta news, insider Larissa Schwartz sold 2,791 shares of the firm's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $71.50, for a total value of $199,556.50. Following the sale, the insider now directly owns 22,125 shares in the company, valued at approximately $1,581,937.50. This trade represents a 11.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jacques Frederic Kerrest sold 131,426 shares of the business's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $80.68, for a total transaction of $10,603,449.68. Following the transaction, the director now directly owns 1,622 shares of the company's stock, valued at approximately $130,862.96. This trade represents a 98.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 607,215 shares of company stock valued at $46,304,810 over the last quarter. Insiders own 7.00% of the company's stock.

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.