International Assets Investment Management LLC Acquires 9,484 Shares of Okta, Inc. (NASDAQ:OKTA)

International Assets Investment Management LLC increased its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 3,719.2% during the third quarter, HoldingsChannel reports. The firm owned 9,739 shares of the company’s stock after buying an additional 9,484 shares during the period. International Assets Investment Management LLC’s holdings in Okta were worth $724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of OKTA. Courier Capital LLC lifted its holdings in Okta by 314.4% in the third quarter. Courier Capital LLC now owns 14,449 shares of the company’s stock valued at $1,074,000 after acquiring an additional 10,962 shares during the period. Commerzbank Aktiengesellschaft FI purchased a new stake in Okta in the third quarter worth about $831,000. Lecap Asset Management Ltd. purchased a new stake in Okta in the third quarter worth about $3,479,000. LB Partners LLC purchased a new stake in Okta in the third quarter worth about $1,115,000. Finally, Allspring Global Investments Holdings LLC increased its position in Okta by 4.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 232,432 shares of the company’s stock worth $17,279,000 after buying an additional 10,761 shares in the last quarter. 86.64% of the stock is owned by institutional investors.

Okta Price Performance

NASDAQ:OKTA opened at $74.07 on Wednesday. The firm has a market capitalization of $12.58 billion, a price-to-earnings ratio of -88.20, a PEG ratio of 16.95 and a beta of 1.02. Okta, Inc. has a 1 year low of $65.98 and a 1 year high of $114.50. The business has a 50 day simple moving average of $75.30 and a 200-day simple moving average of $87.16. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.29. The business had revenue of $646.00 million during the quarter, compared to analyst estimates of $632.24 million. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. Equities analysts forecast that Okta, Inc. will post 0.19 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on OKTA shares. BTIG Research reduced their price target on Okta from $128.00 to $98.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Robert W. Baird cut their target price on Okta from $105.00 to $95.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Westpark Capital reiterated a “buy” rating and set a $140.00 target price on shares of Okta in a research report on Thursday, August 29th. Wells Fargo & Company cut their target price on Okta from $90.00 to $80.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Finally, Truist Financial cut their target price on Okta from $95.00 to $80.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $99.39.

Insider Activity

In related news, CEO Todd Mckinnon sold 224,533 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $74.62, for a total transaction of $16,754,652.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CRO Jonathan James Addison sold 9,850 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $77.63, for a total transaction of $764,655.50. Following the completion of the sale, the executive now directly owns 14,601 shares of the company’s stock, valued at approximately $1,133,475.63. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Mckinnon sold 224,533 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $74.62, for a total value of $16,754,652.46. The disclosure for this sale can be found here. Insiders sold 475,793 shares of company stock valued at $35,759,000 in the last ninety days. Insiders own 7.00% of the company’s stock.

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.