Metis Global Partners LLC Buys 212 Shares of Okta, Inc. (NASDAQ:OKTA)

Metis Global Partners LLC grew its position in Okta, Inc. (NASDAQ:OKTA) by 7.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,181 shares of the company’s stock after purchasing an additional 212 shares during the quarter. Metis Global Partners LLC’s holdings in Okta were worth $236,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Marshall Wace LLP raised its stake in Okta by 117.4% in the 2nd 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 in the last quarter. Eminence Capital LP boosted its stake 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 valued at $186,225,000 after buying an additional 305,381 shares during the period. Robeco Institutional Asset Management B.V. grew its position in Okta by 232.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company’s stock worth $29,479,000 after buying an additional 277,084 shares in the last quarter. Truist Financial Corp raised its holdings in Okta by 62.5% in the 2nd quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock valued at $48,870,000 after acquiring an additional 200,770 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Okta by 20.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,029,753 shares of the company’s stock valued at $96,388,000 after acquiring an additional 178,011 shares during the period. Institutional investors own 86.64% of the company’s stock.

Okta Stock Up 2.2 %

Shares of NASDAQ OKTA opened at $74.51 on Wednesday. The company’s 50 day moving average price is $74.62 and its 200-day moving average price is $85.81. 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 52-week low of $66.69 and a 52-week high of $114.50. The company has a market capitalization of $12.66 billion, a P/E ratio of -88.70, a price-to-earnings-growth ratio of 18.03 and a beta of 1.02.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $632.24 million. Equities analysts forecast that Okta, Inc. will post 0.19 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on OKTA. Stifel Nicolaus dropped their price target on Okta from $122.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. BMO Capital Markets upped their price target on shares of Okta from $100.00 to $103.00 and gave the stock a “market perform” rating in a report on Thursday, August 29th. Jefferies Financial Group lowered their price objective on shares of Okta from $100.00 to $85.00 and set a “hold” rating for the company in a research report on Tuesday, September 24th. Bank of America downgraded Okta from a “buy” rating to an “underperform” rating and reduced their target price for the company from $135.00 to $75.00 in a report on Thursday, August 29th. Finally, Needham & Company LLC initiated coverage on Okta in a research report on Thursday, October 17th. They set a “buy” rating and a $100.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Okta has a consensus rating of “Hold” and a consensus target price of $98.30.

Insider Buying and Selling

In other news, insider Larissa Schwartz sold 2,791 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $71.50, for a total transaction of $199,556.50. Following the completion of the sale, the insider now owns 22,125 shares of the company’s stock, valued at $1,581,937.50. This trade represents a 11.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Todd Mckinnon sold 224,533 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $74.62, for a total transaction of $16,754,652.46. The disclosure for this sale can be found here. Insiders sold 475,789 shares of company stock valued at $35,701,361 over the last 90 days. Company insiders own 7.00% of the company’s stock.

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.