Vinva Investment Management Ltd Sells 26,694 Shares of Okta, Inc. $OKTA

Vinva Investment Management Ltd decreased its position in Okta, Inc. (NASDAQ:OKTA) by 65.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 13,957 shares of the company’s stock after selling 26,694 shares during the period. Vinva Investment Management Ltd’s holdings in Okta were worth $1,374,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Okta by 3.4% during the first quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company’s stock valued at $1,872,167,000 after acquiring an additional 582,956 shares during the last quarter. Focus Partners Advisor Solutions LLC purchased a new position in Okta in the first quarter worth $515,000. Ninety One SA PTY Ltd grew its stake in Okta by 57.9% in the 2nd quarter. Ninety One SA PTY Ltd now owns 49,209 shares of the company’s stock valued at $4,920,000 after purchasing an additional 18,046 shares during the period. Fluent Financial LLC increased its position in shares of Okta by 94.9% during the 2nd quarter. Fluent Financial LLC now owns 10,825 shares of the company’s stock valued at $1,082,000 after purchasing an additional 5,272 shares during the last quarter. Finally, Alkeon Capital Management LLC bought a new stake in shares of Okta during the 1st quarter worth $199,918,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Trading Down 0.3%

Shares of OKTA stock opened at $80.32 on Friday. The firm’s 50 day moving average is $87.50 and its 200 day moving average is $95.11. The stock has a market capitalization of $14.06 billion, a P/E ratio of 94.49, a PEG ratio of 3.95 and a beta of 0.84. Okta, Inc. has a 12 month low of $76.03 and a 12 month high of $127.57.

Okta (NASDAQ:OKTA) last issued its earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The business had revenue of $728,000 billion for the quarter, compared to analysts’ expectations of $711.84 million. Okta had a net margin of 6.08% and a return on equity of 3.31%. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 EPS. On average, equities analysts predict that Okta, Inc. will post 0.42 EPS for the current year.

Insider Buying and Selling

In other Okta news, CFO Brett Tighe sold 10,000 shares of Okta stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $95.00, for a total transaction of $950,000.00. Following the completion of the transaction, the chief financial officer owned 133,336 shares of the company’s stock, valued at $12,666,920. The trade was a 6.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Todd Mckinnon sold 31,968 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $92.33, for a total value of $2,951,605.44. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 64,975 shares of company stock valued at $6,011,126 in the last 90 days. Corporate insiders own 5.68% of the company’s stock.

Analyst Ratings Changes

OKTA has been the subject of several research reports. BMO Capital Markets reduced their price target on shares of Okta from $132.00 to $112.00 and set a “market perform” rating for the company in a research report on Wednesday, August 27th. Wall Street Zen upgraded shares of Okta from a “hold” rating to a “buy” rating in a research note on Sunday, August 3rd. Bank of America restated an “underperform” rating and set a $75.00 price target on shares of Okta in a research note on Wednesday, August 27th. BTIG Research reaffirmed a “buy” rating and issued a $142.00 price target on shares of Okta in a report on Friday, September 26th. Finally, Zacks Research downgraded Okta from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 28th. Twenty-three investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Okta presently has an average rating of “Moderate Buy” and a consensus price target of $116.50.

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.