Perpetual Ltd Acquires Shares of 12,735 Okta, Inc. (NASDAQ:OKTA)

Perpetual Ltd bought a new position in Okta, Inc. (NASDAQ:OKTA) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 12,735 shares of the company’s stock, valued at approximately $1,004,000.

A number of other institutional investors have also added to or reduced their stakes in OKTA. Eminence Capital LP grew 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 worth $186,225,000 after acquiring an additional 305,381 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Okta by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company’s stock worth $79,503,000 after purchasing an additional 17,950 shares in the last quarter. Dimensional Fund Advisors LP grew its position in 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 purchasing an additional 178,011 shares during the last quarter. Penserra Capital Management LLC increased its stake in Okta by 9.8% during the 3rd quarter. Penserra Capital Management LLC now owns 767,962 shares of the company’s stock valued at $57,089,000 after purchasing an additional 68,757 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Okta during the 3rd quarter valued at about $49,373,000. Institutional investors own 86.64% of the company’s stock.

Okta Stock Performance

NASDAQ:OKTA opened at $88.62 on Thursday. The company has a market cap of $15.19 billion, a price-to-earnings ratio of -253.20, a PEG ratio of 8.82 and a beta of 1.00. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $114.50. The stock’s 50 day simple moving average is $81.65 and its two-hundred day simple moving average is $82.27. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.

Insider Buying and Selling

In other news, Director Jacques Frederic Kerrest sold 131,426 shares of Okta stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $80.68, for a total value of $10,603,449.68. Following the completion of the transaction, the director now owns 1,622 shares in the company, valued at approximately $130,862.96. The trade was a 98.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd Mckinnon sold 233,028 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $82.31, for a total value of $19,180,534.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 369,949 shares of company stock worth $30,201,213. Insiders own 7.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Sanford C. Bernstein cut their price target on shares of Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a report on Tuesday, December 17th. Needham & Company LLC lifted their target price on Okta from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. KeyCorp upgraded Okta from a “sector weight” rating to an “overweight” rating and set a $115.00 price target for the company in a research note on Thursday, December 19th. Morgan Stanley raised Okta from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $92.00 to $97.00 in a research report on Monday, December 2nd. Finally, JPMorgan Chase & Co. upgraded shares of Okta from a “neutral” rating to an “overweight” rating and set a $100.00 target price on the stock in a research note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $104.55.

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.