IQ EQ FUND MANAGEMENT IRELAND Ltd Has $4.64 Million Holdings in Okta, Inc. (NASDAQ:OKTA)

IQ EQ FUND MANAGEMENT IRELAND Ltd decreased its position in shares of Okta, Inc. (NASDAQ:OKTA) by 7.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,373 shares of the company’s stock after selling 4,824 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Okta were worth $4,637,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Fisher Asset Management LLC acquired a new position in shares of Okta during the 4th quarter worth about $296,000. Vanguard Group Inc. lifted its holdings in shares of Okta by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 15,719,619 shares of the company’s stock worth $1,423,097,000 after buying an additional 438,496 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position in shares of Okta by 19.5% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 3,405 shares of the company’s stock valued at $308,000 after acquiring an additional 556 shares during the period. Los Angeles Capital Management LLC grew its stake in shares of Okta by 282.5% in the first quarter. Los Angeles Capital Management LLC now owns 248,658 shares of the company’s stock worth $26,015,000 after acquiring an additional 183,643 shares during the last quarter. Finally, Banque Cantonale Vaudoise grew its stake in shares of Okta by 4.3% in the first quarter. Banque Cantonale Vaudoise now owns 2,933 shares of the company’s stock worth $307,000 after acquiring an additional 122 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on OKTA. Robert W. Baird reduced their price target on shares of Okta from $108.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. Jefferies Financial Group decreased their target price on Okta from $100.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday, September 24th. DA Davidson cut their price target on Okta from $100.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. BMO Capital Markets lifted their price objective on Okta from $100.00 to $103.00 and gave the stock a “market perform” rating in a report on Thursday, August 29th. Finally, Piper Sandler cut their target price on Okta from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $104.43.

Insiders Place Their Bets

In other news, insider Larissa Schwartz sold 2,790 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.01, for a total transaction of $206,487.90. Following the sale, the insider now directly owns 27,713 shares of the company’s stock, valued at $2,051,039.13. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Okta news, insider Larissa Schwartz sold 2,790 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.01, for a total transaction of $206,487.90. Following the transaction, the insider now owns 27,713 shares of the company’s stock, valued at approximately $2,051,039.13. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd Mckinnon sold 200,512 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $75.21, for a total value of $15,080,507.52. Following the completion of the transaction, the chief executive officer now owns 8,495 shares in the company, valued at $638,908.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 523,676 shares of company stock valued at $44,592,544. Insiders own 7.00% of the company’s stock.

Okta Trading Down 3.7 %

Shares of OKTA opened at $75.72 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83. The company has a market cap of $12.74 billion, a price-to-earnings ratio of -45.34, a PEG ratio of 26.91 and a beta of 1.02. The stock has a fifty day moving average price of $81.03 and a two-hundred day moving average price of $89.60. Okta, Inc. has a 52-week low of $65.04 and a 52-week high of $114.50.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.29. The company had revenue of $646.00 million during the quarter, compared to analyst estimates of $632.24 million. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. Analysts predict that Okta, Inc. will post 0.12 EPS for the current fiscal year.

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.