Vinva Investment Management Ltd Increases Holdings in Okta, Inc. (NASDAQ:OKTA)

Vinva Investment Management Ltd increased its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 231.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,655 shares of the company’s stock after buying an additional 17,210 shares during the quarter. Vinva Investment Management Ltd’s holdings in Okta were worth $1,964,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in OKTA. Paloma Partners Management Co purchased a new stake in Okta in the third quarter valued at $969,000. SBI Securities Co. Ltd. purchased a new stake in Okta in the fourth quarter valued at $1,686,000. Stifel Financial Corp raised its position in Okta by 56.1% in the third quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock valued at $2,770,000 after purchasing an additional 13,387 shares during the period. Nordea Investment Management AB raised its position in Okta by 1,150.2% in the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after purchasing an additional 382,190 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Okta by 105.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock valued at $26,627,000 after purchasing an additional 184,107 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on OKTA shares. BMO Capital Markets upped their price target on Okta from $105.00 to $130.00 and gave the stock a “market perform” rating in a research note on Monday, March 10th. JPMorgan Chase & Co. upped their price target on Okta from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Guggenheim restated a “buy” rating and set a $130.00 price target on shares of Okta in a research note on Wednesday, December 4th. Citigroup upped their price target on Okta from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Finally, The Goldman Sachs Group upped their price objective on Okta from $107.00 to $123.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $115.29.

Okta Stock Down 1.1 %

OKTA stock opened at $112.80 on Friday. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $116.96. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The company has a market cap of $19.58 billion, a price-to-earnings ratio of -322.29, a PEG ratio of 6.42 and a beta of 1.09. The company has a 50 day moving average of $96.89 and a two-hundred day moving average of $84.07.

Insiders Place Their Bets

In other news, Director Jacques Frederic Kerrest sold 130,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $105.00, for a total transaction of $13,650,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Eric Robert Kelleher sold 5,895 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $113.75, for a total transaction of $670,556.25. Following the transaction, the insider now owns 9,828 shares in the company, valued at $1,117,935. This represents a 37.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 752,349 shares of company stock worth $69,562,237 in the last quarter. 7.00% of the stock is currently owned by corporate insiders.

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.