Vinva Investment Management Ltd Has $1.96 Million Holdings in Okta, Inc. (NASDAQ:OKTA)

Vinva Investment Management Ltd boosted its position in Okta, Inc. (NASDAQ:OKTA) by 231.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,655 shares of the company’s stock after buying an additional 17,210 shares during the quarter. Vinva Investment Management Ltd’s holdings in Okta were worth $1,964,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Frank Rimerman Advisors LLC grew its position in Okta by 2.4% in the 4th quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock worth $352,000 after purchasing an additional 105 shares during the last quarter. Stephens Inc. AR grew its position in Okta by 5.0% in the 4th quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock worth $260,000 after purchasing an additional 157 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Okta by 2.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock worth $605,000 after purchasing an additional 180 shares during the last quarter. Great Lakes Advisors LLC grew its position in Okta by 2.7% in the 4th quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company’s stock worth $557,000 after purchasing an additional 184 shares during the last quarter. Finally, CHICAGO TRUST Co NA grew its position in Okta by 6.5% in the 4th quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company’s stock worth $246,000 after purchasing an additional 191 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Jefferies Financial Group raised their price target on shares of Okta from $90.00 to $110.00 and gave the stock a “hold” rating in a research report on Tuesday, March 4th. BTIG Research restated a “buy” rating on shares of Okta in a research report on Tuesday, March 4th. Mizuho upgraded shares of Okta from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $110.00 to $127.00 in a research report on Tuesday, March 4th. Scotiabank lifted their target price on shares of Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 4th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $115.00 target price on shares of Okta in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $115.29.

Insider Activity at Okta

In related news, CFO Brett Tighe sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total transaction of $445,000.00. Following the completion of the transaction, the chief financial officer now owns 112,533 shares in the company, valued at approximately $10,015,437. The trade was a 4.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric Robert Kelleher sold 5,895 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $113.75, for a total transaction of $670,556.25. Following the transaction, the insider now owns 9,828 shares of the company’s stock, valued at approximately $1,117,935. This represents a 37.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 752,349 shares of company stock worth $69,562,237. 7.00% of the stock is currently owned by company insiders.

Okta Stock Down 1.1 %

Shares of NASDAQ OKTA opened at $112.80 on Friday. The stock has a market cap of $19.58 billion, a P/E ratio of -322.29, a P/E/G ratio of 6.42 and a beta of 1.09. The firm has a 50 day moving average price of $96.89 and a 200 day moving average price of $84.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $116.96.

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.