Plato Investment Management Ltd Increases Stake in Okta, Inc. (NASDAQ:OKTA)

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

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wedbush reiterated an “outperform” rating and issued a $130.00 price objective on shares of Okta in a research note on Wednesday, May 29th. Susquehanna reduced their price target on shares of Okta from $110.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price target on shares of Okta in a report on Thursday, August 29th. Guggenheim reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Okta in a research note on Tuesday, June 25th. Finally, Wells Fargo & Company decreased their target price on Okta from $100.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $105.14.

Okta Stock Performance

NASDAQ OKTA opened at $74.06 on Monday. The business’s 50-day moving average price is $89.41 and its 200 day moving average price is $94.69. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18. Okta, Inc. has a twelve month low of $65.04 and a twelve month high of $114.50. The company has a market capitalization of $12.58 billion, a PE ratio of -44.35, a price-to-earnings-growth ratio of 40.62 and a beta of 1.01.

Insider Activity

In related news, insider Larissa Schwartz sold 2,792 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $99.40, for a total value of $277,524.80. Following the sale, the insider now directly owns 29,809 shares of the company’s stock, valued at $2,963,014.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Larissa Schwartz sold 2,792 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $99.40, for a total transaction of $277,524.80. Following the completion of the transaction, the insider now owns 29,809 shares of the company’s stock, valued at $2,963,014.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Mckinnon sold 92,729 shares of Okta stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $94.92, for a total transaction of $8,801,836.68. The disclosure for this sale can be found here. Insiders sold a total of 346,173 shares of company stock valued at $32,765,801 in the last 90 days. 7.00% of the stock is currently owned by insiders.

Okta Company 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.