Plato Investment Management Ltd Boosts Position in Okta, Inc. (NASDAQ:OKTA)

Plato Investment Management Ltd grew its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 82.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,021 shares of the company’s stock after buying an additional 4,979 shares during the quarter. Plato Investment Management Ltd’s holdings in Okta were worth $1,032,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Banque Cantonale Vaudoise lifted its holdings in shares of Okta by 4.3% during the 1st quarter. Banque Cantonale Vaudoise now owns 2,933 shares of the company’s stock valued at $307,000 after acquiring an additional 122 shares in the last quarter. Caprock Group LLC raised its position in Okta by 4.7% in the second quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock valued at $267,000 after purchasing an additional 129 shares during the period. National Bank of Canada FI lifted its stake in shares of Okta by 11.0% during the second quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock worth $124,000 after purchasing an additional 130 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Okta by 71.4% in the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after buying an additional 142 shares during the period. Finally, CWM LLC boosted its position in shares of Okta by 5.3% in the second quarter. CWM LLC now owns 2,910 shares of the company’s stock worth $272,000 after buying an additional 147 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Okta

In other news, Director Jacques Frederic Kerrest sold 1,552 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $86.99, for a total transaction of $135,008.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Okta news, insider Larissa Schwartz sold 2,792 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $99.40, for a total value of $277,524.80. Following the completion of the transaction, the insider now owns 29,809 shares in the company, valued at approximately $2,963,014.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jacques Frederic Kerrest sold 1,552 shares of Okta stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $86.99, for a total value of $135,008.48. The disclosure for this sale can be found here. Insiders sold a total of 346,173 shares of company stock worth $32,765,801 over the last ninety days. Company insiders own 7.00% of the company’s stock.

Okta Price Performance

Shares of NASDAQ:OKTA opened at $74.06 on Monday. The company has a market cap of $12.58 billion, a PE ratio of -44.35, a P/E/G ratio of 40.62 and a beta of 1.01. Okta, Inc. has a fifty-two week low of $65.04 and a fifty-two week high of $114.50. The firm has a 50-day simple moving average of $89.41 and a 200 day simple moving average of $94.69. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on OKTA. Citigroup reduced their price target on Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Westpark Capital reissued a “buy” rating and set a $140.00 target price on shares of Okta in a research report on Thursday, August 29th. DA Davidson decreased their target price on shares of Okta from $100.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. The Goldman Sachs Group dropped their price target on shares of Okta from $130.00 to $113.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Wedbush reissued an “outperform” rating and issued a $130.00 price objective on shares of Okta in a research report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $105.14.

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.