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

Vinva Investment Management Ltd trimmed its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 65.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,957 shares of the company’s stock after selling 26,694 shares during the quarter. Vinva Investment Management Ltd’s holdings in Okta were worth $1,374,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of OKTA. Vanguard Group Inc. boosted its holdings in Okta by 3.4% in 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 acquired a new position in shares of Okta in the 1st quarter worth approximately $515,000. Ninety One SA PTY Ltd boosted its stake in shares of 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 last quarter. Fluent Financial LLC increased its position in shares of Okta by 94.9% during the second quarter. Fluent Financial LLC now owns 10,825 shares of the company’s stock worth $1,082,000 after buying an additional 5,272 shares during the period. Finally, Alkeon Capital Management LLC bought a new position in Okta during the first quarter worth $199,918,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Trading Down 0.3%

Okta stock opened at $80.32 on Friday. The firm has a market capitalization of $14.06 billion, a price-to-earnings ratio of 94.49, a price-to-earnings-growth ratio of 3.95 and a beta of 0.84. The firm’s fifty day moving average price is $87.50 and its two-hundred day moving average price is $95.11. Okta, Inc. has a 1-year low of $76.03 and a 1-year high of $127.57.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on OKTA. Barclays dropped their price objective on Okta from $112.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 18th. Cantor Fitzgerald cut their target price on shares of Okta from $130.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday. Robert W. Baird decreased their price target on shares of Okta from $142.00 to $135.00 and set an “outperform” rating for the company in a research note on Monday, September 29th. JMP Securities reaffirmed a “market perform” rating on shares of Okta in a research note on Wednesday, August 27th. Finally, Zacks Research lowered shares of Okta from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 28th. Twenty-three equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $116.50.

Insider Activity

In related news, insider Eric Robert Kelleher sold 2,410 shares of Okta stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $91.73, for a total transaction of $221,069.30. Following the transaction, the insider owned 9,174 shares of the company’s stock, valued at $841,531.02. The trade was a 20.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brett Tighe sold 10,000 shares of the company’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the sale, the chief financial officer owned 133,336 shares of the company’s stock, valued at $12,666,920. This trade represents a 6.98% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 64,975 shares of company stock worth $6,011,126. Company insiders own 5.68% 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.