International Assets Investment Management LLC Boosts Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

International Assets Investment Management LLC grew its position in shares of Okta, Inc. (NASDAQ:OKTA) by 7,678.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,612 shares of the company’s stock after purchasing an additional 27,257 shares during the quarter. International Assets Investment Management LLC’s holdings in Okta were worth $2,500,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. NBC Securities Inc. purchased a new position in shares of Okta during the 3rd quarter valued at approximately $27,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Okta during the 3rd quarter valued at approximately $39,000. First Manhattan CO. LLC. increased its holdings in shares of Okta by 365.5% during the 1st quarter. First Manhattan CO. LLC. now owns 540 shares of the company’s stock valued at $47,000 after purchasing an additional 424 shares in the last quarter. Coppell Advisory Solutions LLC purchased a new position in shares of Okta during the 2nd quarter valued at approximately $46,000. Finally, Resurgent Financial Advisors LLC acquired a new stake in Okta in the 4th quarter valued at $47,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Mizuho lifted their price target on shares of Okta from $90.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, February 29th. Bank of America raised shares of Okta from an “underperform” rating to a “buy” rating and lifted their price target for the company from $64.00 to $135.00 in a research note on Thursday, February 29th. Susquehanna lifted their price target on shares of Okta from $70.00 to $115.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Robert W. Baird lifted their price target on shares of Okta from $90.00 to $108.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Finally, Canaccord Genuity Group lifted their price target on shares of Okta from $85.00 to $95.00 and gave the company a “hold” rating in a research note on Thursday, February 29th. Twenty analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $100.39.

Insider Activity at Okta

In related news, CAO Shibu Ninan sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $90.23, for a total value of $225,575.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,539 shares of the company’s stock, valued at $590,013.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Shellye L. Archambeau sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $106.96, for a total value of $534,800.00. Following the completion of the sale, the director now directly owns 6,042 shares of the company’s stock, valued at $646,252.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Shibu Ninan sold 2,500 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $90.23, for a total value of $225,575.00. Following the completion of the sale, the chief accounting officer now directly owns 6,539 shares of the company’s stock, valued at $590,013.97. The disclosure for this sale can be found here. Insiders sold 11,779 shares of company stock valued at $1,205,990 over the last three months. 7.36% of the stock is owned by corporate insiders.

Okta Stock Performance

Shares of Okta stock opened at $93.71 on Friday. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50. The company has a market cap of $15.69 billion, a PE ratio of -43.18 and a beta of 1.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.67 and a current ratio of 1.67. The business has a 50-day simple moving average of $98.87 and a 200-day simple moving average of $85.75.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.35. The firm had revenue of $605.00 million during the quarter, compared to the consensus estimate of $586.25 million. Okta had a negative return on equity of 5.69% and a negative net margin of 15.69%. On average, equities research analysts forecast that Okta, Inc. will post -1.51 EPS for the current fiscal year.

Okta 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.