IFM Investors Pty Ltd Acquires 5,247 Shares of Okta Inc (NASDAQ:OKTA)

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IFM Investors Pty Ltd increased its holdings in Okta Inc (NASDAQ:OKTA) by 78.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,950 shares of the company’s stock after acquiring an additional 5,247 shares during the quarter. IFM Investors Pty Ltd’s holdings in Okta were worth $1,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Lindbrook Capital LLC increased its stake in shares of Okta by 76.9% in the 2nd quarter. Lindbrook Capital LLC now owns 230 shares of the company’s stock worth $28,000 after acquiring an additional 100 shares in the last quarter. Valeo Financial Advisors LLC increased its stake in shares of Okta by 122.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 238 shares of the company’s stock worth $29,000 after acquiring an additional 131 shares in the last quarter. Focused Wealth Management Inc bought a new position in shares of Okta in the 2nd quarter worth about $30,000. Truewealth LLC bought a new position in shares of Okta in the 2nd quarter worth about $33,000. Finally, CSat Investment Advisory L.P. bought a new position in shares of Okta in the 2nd quarter worth about $34,000. Institutional investors own 69.29% of the company’s stock.

In related news, CEO Todd Mckinnon sold 1,773 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $102.57, for a total value of $181,856.61. Following the sale, the chief executive officer now owns 3,531 shares in the company, valued at $362,174.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Benjamin A. Horowitz sold 48,897 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $127.12, for a total transaction of $6,215,786.64. Following the completion of the sale, the director now owns 15,735 shares in the company, valued at approximately $2,000,233.20. The disclosure for this sale can be found here. Insiders sold 364,416 shares of company stock worth $43,301,450 in the last 90 days. 14.69% of the stock is currently owned by company insiders.

Several brokerages recently issued reports on OKTA. Guggenheim increased their price target on shares of Okta from $125.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Cowen began coverage on shares of Okta in a research note on Wednesday, August 21st. They issued an “outperform” rating and a $150.00 price target for the company. JPMorgan Chase & Co. increased their price target on shares of Okta from $127.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. SunTrust Banks upgraded shares of Okta from a “hold” rating to a “buy” rating and raised their price objective for the company from $130.00 to $134.00 in a research note on Wednesday, October 2nd. Finally, Robert W. Baird set a $135.00 price objective on shares of Okta and gave the company a “hold” rating in a research note on Friday, September 13th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $130.26.

NASDAQ:OKTA traded up $4.44 on Friday, reaching $109.66. 2,028,100 shares of the stock traded hands, compared to its average volume of 2,282,389. The company has a market capitalization of $12.47 billion, a price-to-earnings ratio of -106.47 and a beta of 1.01. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.57. Okta Inc has a 12 month low of $41.88 and a 12 month high of $141.85. The company’s fifty day simple moving average is $107.72 and its 200 day simple moving average is $118.09.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Wednesday, August 28th. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.32). The firm had revenue of $140.48 million for the quarter, compared to analysts’ expectations of $131.19 million. Okta had a negative net margin of 31.90% and a negative return on equity of 53.93%. The company’s revenue for the quarter was up 48.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.15) earnings per share. Equities analysts anticipate that Okta Inc will post -1.42 EPS for the current fiscal year.

Okta Company Profile

Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.

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Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

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