Illinois Municipal Retirement Fund Has $2.05 Million Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Illinois Municipal Retirement Fund raised its holdings in Okta, Inc. (NASDAQ:OKTA) by 80.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 26,065 shares of the company’s stock after buying an additional 11,658 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Okta were worth $2,054,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Itau Unibanco Holding S.A. bought a new position in Okta in the 3rd quarter valued at about $25,000. Bank of Jackson Hole Trust purchased a new stake in shares of Okta in the fourth quarter worth approximately $25,000. Blue Trust Inc. lifted its holdings 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 purchasing an additional 191 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of Okta during the third quarter valued at approximately $32,000. Finally, Modus Advisors LLC bought a new stake in Okta during the fourth quarter worth $44,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Okta

In related news, Director Jacques Frederic Kerrest sold 390,000 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $87.09, for a total transaction of $33,965,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Todd Mckinnon sold 233,028 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $82.31, for a total transaction of $19,180,534.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 980,908 shares of company stock worth $85,025,665. 7.00% of the stock is owned by company insiders.

Okta Trading Up 1.5 %

NASDAQ:OKTA opened at $90.49 on Friday. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $114.50. The stock’s fifty day moving average price is $89.30 and its two-hundred day moving average price is $82.60. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market cap of $15.51 billion, a P/E ratio of -258.54, a P/E/G ratio of 6.42 and a beta of 1.03.

Wall Street Analyst Weigh In

OKTA has been the topic of several recent analyst reports. JMP Securities restated a “market perform” rating on shares of Okta in a research note on Wednesday, December 4th. The Goldman Sachs Group raised their price target on shares of Okta from $97.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. UBS Group upped their price objective on shares of Okta from $108.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Westpark Capital reiterated a “buy” rating and issued a $140.00 price objective on shares of Okta in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft downgraded Okta from a “buy” rating to a “hold” rating and cut their target price for the stock from $115.00 to $85.00 in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $105.67.

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.