Okta, Inc. (NASDAQ:OKTA) Shares Acquired by Ilmarinen Mutual Pension Insurance Co

Ilmarinen Mutual Pension Insurance Co lifted its position in Okta, Inc. (NASDAQ:OKTA) by 50.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,000 shares of the company’s stock after purchasing 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 filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its position in shares of Okta by 12.3% in the fourth quarter. Russell Investments Group Ltd. now owns 37,895 shares of the company’s stock worth $2,987,000 after acquiring an additional 4,147 shares during the period. Hel Ved Capital Management Ltd purchased a new position in Okta during the fourth quarter worth approximately $528,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Okta in the fourth quarter valued at approximately $77,000. Resona Asset Management Co. Ltd. purchased a new stake in shares of Okta in the fourth quarter valued at approximately $3,629,000. Finally, ExodusPoint Capital Management LP acquired a new position in shares of Okta during the 4th quarter worth approximately $11,922,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on OKTA. Canaccord Genuity Group lifted their price target on shares of Okta from $94.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, March 4th. Westpark Capital restated a “buy” rating and set a $140.00 price target on shares of Okta in a research report on Friday, February 28th. Cantor Fitzgerald assumed coverage on Okta in a report on Monday, March 31st. They issued an “overweight” rating and a $130.00 price objective on the stock. Citigroup boosted their price objective on Okta from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Finally, Sanford C. Bernstein decreased their target price on Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Okta presently has a consensus rating of “Moderate Buy” and an average price target of $116.09.

Insider Buying and Selling

In other Okta news, insider Larissa Schwartz sold 2,704 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $89.58, for a total transaction of $242,224.32. Following the transaction, the insider now directly owns 23,311 shares in the company, valued at $2,088,199.38. This represents a 10.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jacques Frederic Kerrest sold 390,000 shares of Okta stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $87.09, for a total value of $33,965,100.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 761,197 shares of company stock valued at $70,662,533. Company insiders own 7.00% of the company’s stock.

Okta Price Performance

Shares of OKTA opened at $91.93 on Friday. The firm has a 50-day simple moving average of $101.64 and a two-hundred day simple moving average of $86.75. The stock has a market cap of $15.96 billion, a PE ratio of -262.66, a P/E/G ratio of 6.42 and a beta of 1.06. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $118.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.

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.