Okta, Inc. (NASDAQ:OKTA) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC increased its stake in shares of Okta, Inc. (NASDAQ:OKTA – Get Rating) by 5.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 9,302 shares of the company’s stock after purchasing an additional 502 shares during the quarter. Intech Investment Management LLC’s holdings in Okta were worth $636,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Okta by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 14,079,420 shares of the company’s stock worth $800,697,000 after purchasing an additional 237,961 shares during the last quarter. First Trust Advisors LP grew its position in Okta by 2.2% during the 4th quarter. First Trust Advisors LP now owns 3,857,443 shares of the company’s stock worth $263,590,000 after purchasing an additional 83,072 shares during the last quarter. Deer Management Co. LLC grew its position in Okta by 10.9% during the 3rd quarter. Deer Management Co. LLC now owns 2,729,034 shares of the company’s stock worth $155,200,000 after purchasing an additional 267,213 shares during the last quarter. Two Sigma Investments LP grew its position in Okta by 394.6% during the 3rd quarter. Two Sigma Investments LP now owns 1,674,333 shares of the company’s stock worth $95,219,000 after purchasing an additional 1,335,799 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Okta by 23.6% during the 3rd quarter. Renaissance Technologies LLC now owns 1,330,700 shares of the company’s stock worth $75,677,000 after purchasing an additional 253,700 shares during the last quarter. 73.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Okta from $90.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, March 2nd. DA Davidson lifted their target price on shares of Okta from $60.00 to $80.00 in a report on Thursday, March 2nd. UBS Group assumed coverage on shares of Okta in a report on Monday, April 17th. They issued a “buy” rating and a $100.00 target price on the stock. Wells Fargo & Company lifted their target price on shares of Okta from $76.00 to $98.00 and gave the company an “overweight” rating in a report on Thursday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Okta from $80.00 to $90.00 and gave the company a “buy” rating in a report on Monday, January 23rd. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.71.

Okta Price Performance

Okta stock opened at $82.15 on Monday. Okta, Inc. has a 1 year low of $44.12 and a 1 year high of $111.35. The firm has a 50 day moving average price of $78.35 and a 200 day moving average price of $70.81. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.20 and a current ratio of 2.20.

Okta (NASDAQ:OKTA – Get Rating) last released its earnings results on Wednesday, March 1st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.11. Okta had a negative net margin of 43.87% and a negative return on equity of 12.53%. The firm had revenue of $510.00 million during the quarter, compared to the consensus estimate of $488.99 million. As a group, sell-side analysts forecast that Okta, Inc. will post -3.05 EPS for the current fiscal year.

Insider Activity at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 423 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $82.48, for a total transaction of $34,889.04. Following the completion of the sale, the director now directly owns 701 shares in the company, valued at $57,818.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Okta news, Director Jacques Frederic Kerrest sold 423 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $82.48, for a total transaction of $34,889.04. Following the completion of the sale, the director now directly owns 701 shares in the company, valued at $57,818.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Larissa Schwartz sold 452 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $82.48, for a total transaction of $37,280.96. Following the sale, the insider now owns 20,149 shares of the company’s stock, valued at $1,661,889.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,473 shares of company stock worth $533,244. 7.36% of the stock is owned by company insiders.

About Okta

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Okta, Inc engages in the provision of an identity management platform for enterprises. It operates through the United States and International geographical segments. The firm’s products include single sign-on, multi-factor authentication, API access management, authentication, user management, and lifecycle management.