International Assets Investment Management LLC Has $724,000 Stock Position in Okta, Inc. (NASDAQ:OKTA)

International Assets Investment Management LLC grew its position in Okta, Inc. (NASDAQ:OKTA) by 3,719.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,739 shares of the company’s stock after acquiring an additional 9,484 shares during the period. International Assets Investment Management LLC’s holdings in Okta were worth $724,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Okta by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 15,848,525 shares of the company’s stock worth $1,658,073,000 after purchasing an additional 128,906 shares during the last quarter. Marshall Wace LLP lifted its stake in Okta by 117.4% in the second quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock valued at $212,841,000 after buying an additional 1,227,890 shares during the period. Eminence Capital LP lifted its stake in Okta by 18.1% in the second quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock valued at $186,225,000 after buying an additional 305,381 shares during the period. Primecap Management Co. CA lifted its stake in Okta by 0.8% in the second quarter. Primecap Management Co. CA now owns 1,356,216 shares of the company’s stock valued at $126,955,000 after buying an additional 10,800 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Okta by 20.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,029,753 shares of the company’s stock valued at $96,388,000 after buying an additional 178,011 shares during the period. Institutional investors own 86.64% of the company’s stock.

Okta Stock Performance

Shares of OKTA opened at $74.07 on Wednesday. The company has a market cap of $12.58 billion, a PE ratio of -88.20, a price-to-earnings-growth ratio of 16.95 and a beta of 1.02. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18. The stock has a 50-day moving average price of $75.30 and a 200-day moving average price of $87.16. Okta, Inc. has a 12-month low of $65.98 and a 12-month high of $114.50.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.29. The company had revenue of $646.00 million during the quarter, compared to the consensus estimate of $632.24 million. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. As a group, equities analysts forecast that Okta, Inc. will post 0.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Todd Mckinnon sold 224,533 shares of the business’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Larissa Schwartz sold 2,790 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $74.01, for a total transaction of $206,487.90. Following the transaction, the insider now directly owns 27,713 shares of the company’s stock, valued at approximately $2,051,039.13. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Todd Mckinnon sold 224,533 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were 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 worth $35,759,000 in the last quarter. 7.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on OKTA. BMO Capital Markets raised their target price on shares of Okta from $100.00 to $103.00 and gave the stock a “market perform” rating in a report on Thursday, August 29th. Morgan Stanley dropped their target price on shares of Okta from $100.00 to $92.00 and set an “equal weight” rating on the stock in a report on Monday. Stifel Nicolaus dropped their target price on shares of Okta from $122.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Mizuho decreased their price target on shares of Okta from $104.00 to $92.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th. Finally, Citigroup decreased their target price on shares of Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $99.39.

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.