Parametrica Management Ltd Acquires Shares of 9,145 Okta, Inc. (NASDAQ:OKTA)

Parametrica Management Ltd acquired a new stake in shares of Okta, Inc. (NASDAQ:OKTA) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 9,145 shares of the company’s stock, valued at approximately $680,000. Okta comprises 0.8% of Parametrica Management Ltd’s portfolio, making the stock its 27th largest holding.

Other hedge funds have also bought and sold shares of the company. Marshall Wace LLP grew its holdings in shares of Okta by 117.4% in the second quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock worth $212,841,000 after purchasing an additional 1,227,890 shares during the last quarter. Eminence Capital LP grew its holdings in shares of Okta by 18.1% in the second quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock worth $186,225,000 after purchasing an additional 305,381 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Okta by 232.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company’s stock worth $29,479,000 after purchasing an additional 277,084 shares during the last quarter. Truist Financial Corp grew its holdings in shares of Okta by 62.5% in the second quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock worth $48,870,000 after purchasing an additional 200,770 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Okta by 20.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,029,753 shares of the company’s stock worth $96,388,000 after purchasing an additional 178,011 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Analyst Ratings Changes

OKTA has been the topic of a number of research analyst reports. Robert W. Baird cut their price target on shares of Okta from $105.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. Wells Fargo & Company dropped their target price on shares of Okta from $90.00 to $80.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Mizuho dropped their target price on shares of Okta from $104.00 to $92.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. Royal Bank of Canada dropped their target price on shares of Okta from $125.00 to $101.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Finally, DA Davidson dropped their target price on shares of Okta from $85.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Okta has a consensus rating of “Hold” and a consensus price target of $98.90.

Okta Stock Performance

NASDAQ OKTA traded up $1.46 on Wednesday, hitting $79.68. 270,249 shares of the company’s stock traded hands, compared to its average volume of 1,910,653. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83. Okta, Inc. has a 1-year low of $66.69 and a 1-year high of $114.50. The firm’s 50-day moving average price is $74.39 and its two-hundred day moving average price is $86.48.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.29. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. The business had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $632.24 million. On average, equities research analysts expect that Okta, Inc. will post 0.19 earnings per share for the current year.

Insider Activity

In other news, CRO Jonathan James Addison sold 9,850 shares of Okta stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $77.63, for a total transaction of $764,655.50. Following the completion of the transaction, the executive now directly owns 14,601 shares of the company’s stock, valued at $1,133,475.63. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Larissa Schwartz sold 2,790 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.01, for a total value of $206,487.90. Following the completion of the sale, the insider now owns 27,713 shares of the company’s stock, valued at approximately $2,051,039.13. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Jonathan James Addison sold 9,850 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $77.63, for a total transaction of $764,655.50. Following the completion of the sale, the executive now directly owns 14,601 shares of the company’s stock, valued at approximately $1,133,475.63. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 475,789 shares of company stock valued at $35,701,361 in the last three months. 7.00% of the stock is currently owned by corporate 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.