Thompson Investment Management Inc. Buys 6,350 Shares of Okta, Inc. (NASDAQ:OKTA)

Thompson Investment Management Inc. raised its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 7,743.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,432 shares of the company’s stock after purchasing an additional 6,350 shares during the quarter. Thompson Investment Management Inc.’s holdings in Okta were worth $677,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Marshall Wace LLP boosted its stake in shares of Okta by 35.5% during the 4th quarter. Marshall Wace LLP now owns 3,583,937 shares of the company’s stock valued at $282,414,000 after purchasing an additional 938,509 shares in the last quarter. Norges Bank purchased a new stake in Okta in the fourth quarter worth about $234,992,000. Geode Capital Management LLC boosted its position in Okta by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 2,700,216 shares of the company’s stock valued at $212,385,000 after acquiring an additional 135,110 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Okta by 236.8% during the 4th quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company’s stock valued at $176,271,000 after acquiring an additional 1,572,786 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Okta by 2,135.7% during the 4th quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company’s stock worth $150,845,000 after acquiring an additional 1,828,630 shares during the period. 86.64% of the stock is currently owned by institutional investors.

Okta Stock Performance

NASDAQ:OKTA opened at $100.78 on Wednesday. The company has a market cap of $17.64 billion, a price-to-earnings ratio of -287.94, a PEG ratio of 6.42 and a beta of 0.84. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $127.57. The stock’s 50 day simple moving average is $108.78 and its two-hundred day simple moving average is $98.37. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.

Okta (NASDAQ:OKTA) last posted its earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.09. Okta had a negative net margin of 1.54% and a positive return on equity of 0.47%. The firm had revenue of $688.00 million during the quarter, compared to analyst estimates of $680.14 million. During the same period last year, the firm posted $0.65 earnings per share. Okta’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, equities analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CRO Jonathan James Addison sold 7,005 shares of the stock in a transaction on Friday, April 11th. The stock was sold at an average price of $101.19, for a total transaction of $708,835.95. Following the sale, the executive now owns 19,067 shares in the company, valued at approximately $1,929,389.73. This represents a 26.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Larissa Schwartz sold 11,552 shares of Okta stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the transaction, the insider now directly owns 22,125 shares of the company’s stock, valued at $2,524,241.25. The trade was a 34.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,452 shares of company stock valued at $2,697,360 in the last three months. Corporate insiders own 5.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Citigroup raised their target price on Okta from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Roth Capital reiterated a “buy” rating and issued a $119.00 price objective on shares of Okta in a report on Wednesday, May 28th. Cantor Fitzgerald assumed coverage on shares of Okta in a report on Monday, March 31st. They set an “overweight” rating and a $130.00 target price on the stock. Stifel Nicolaus upped their target price on shares of Okta from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. Finally, Evercore ISI increased their price target on shares of Okta from $122.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, Okta presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.59.

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.