Mackenzie Financial Corp Has $875,000 Holdings in Okta, Inc. (NASDAQ:OKTA)

Mackenzie Financial Corp boosted its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 7.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,667 shares of the company’s stock after purchasing an additional 630 shares during the quarter. Mackenzie Financial Corp’s holdings in Okta were worth $875,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Northern Trust Corp raised its stake in shares of Okta by 3.0% in the 3rd quarter. Northern Trust Corp now owns 944,726 shares of the company’s stock valued at $77,005,000 after buying an additional 27,577 shares in the last quarter. RPG Investment Advisory LLC raised its stake in shares of Okta by 57.2% in the 4th quarter. RPG Investment Advisory LLC now owns 77,269 shares of the company’s stock valued at $6,995,000 after buying an additional 28,119 shares in the last quarter. Pearl River Capital LLC raised its stake in shares of Okta by 643.6% in the 3rd quarter. Pearl River Capital LLC now owns 41,982 shares of the company’s stock valued at $3,422,000 after buying an additional 36,336 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Okta by 2,721.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 176,071 shares of the company’s stock valued at $15,940,000 after buying an additional 169,830 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new position in shares of Okta in the 3rd quarter valued at $923,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Price Performance

Shares of OKTA opened at $92.93 on Friday. The company has a market cap of $15.56 billion, a price-to-earnings ratio of -42.82 and a beta of 1.00. Okta, Inc. has a 1-year low of $65.04 and a 1-year high of $114.50. The company’s fifty day simple moving average is $99.52 and its 200 day simple moving average is $86.25. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20.

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

Insider Buying and Selling at Okta

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on OKTA shares. Sanford C. Bernstein increased their price objective on shares of Okta from $84.00 to $114.00 and gave the company a “market perform” rating in a research note on Thursday, February 29th. Robert W. Baird increased their target price on shares of Okta from $90.00 to $108.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Citigroup increased their target price on shares of Okta from $75.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Jefferies Financial Group reiterated a “hold” rating and set a $95.00 target price (up previously from $85.00) on shares of Okta in a research report on Friday, January 5th. Finally, JPMorgan Chase & Co. increased their target price on shares of Okta from $74.00 to $88.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Twenty equities research 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 company has an average rating of “Hold” and an average target price of $100.39.

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.