Illinois Municipal Retirement Fund Takes $1.51 Million Position in Okta, Inc. (NASDAQ:OKTA)

Illinois Municipal Retirement Fund purchased a new stake in shares of Okta, Inc. (NASDAQ:OKTA) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 14,407 shares of the company’s stock, valued at approximately $1,507,000.

Several other institutional investors and hedge funds have also modified their holdings of OKTA. Cerity Partners LLC grew its holdings in shares of Okta by 6,192.3% during the 4th quarter. Cerity Partners LLC now owns 3,172,223 shares of the company’s stock valued at $287,181,000 after acquiring an additional 3,121,809 shares in the last quarter. Sands Capital Management LLC grew its holdings in shares of Okta by 42.3% during the 4th quarter. Sands Capital Management LLC now owns 8,358,414 shares of the company’s stock valued at $756,687,000 after acquiring an additional 2,486,456 shares in the last quarter. Norges Bank purchased a new position in shares of Okta during the 4th quarter valued at $150,794,000. First Trust Advisors LP grew its holdings in shares of Okta by 28.1% during the 4th quarter. First Trust Advisors LP now owns 4,085,430 shares of the company’s stock valued at $369,854,000 after acquiring an additional 897,216 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Okta by 1,465.8% during the 4th quarter. Point72 Asset Management L.P. now owns 682,900 shares of the company’s stock valued at $61,823,000 after acquiring an additional 732,900 shares in the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Trading Up 3.0 %

NASDAQ:OKTA opened at $96.08 on Monday. Okta, Inc. has a 12-month low of $65.04 and a 12-month high of $114.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a 50-day moving average price of $93.58 and a 200 day moving average price of $93.47.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Wednesday, May 29th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.27. Okta had a negative net margin of 11.69% and a negative return on equity of 3.81%. The firm had revenue of $617.00 million for the quarter, compared to analysts’ expectations of $604.33 million. Equities research analysts predict that Okta, Inc. will post -0.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on OKTA shares. Mizuho upped their price objective on shares of Okta from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, May 17th. UBS Group decreased their price objective on shares of Okta from $130.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 price objective on shares of Okta in a report on Monday, June 17th. Wedbush reiterated an “outperform” rating and issued a $130.00 price objective on shares of Okta in a report on Wednesday, May 29th. Finally, Evercore ISI upgraded shares of Okta from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $102.00 to $122.00 in a report on Thursday, May 30th. Nineteen analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $105.58.

Insider Activity

In other news, Director Jacques Frederic Kerrest sold 1,552 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $86.99, for a total transaction of $135,008.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have sold 60,430 shares of company stock valued at $5,619,337 over the last three months. 7.00% of the stock is owned by insiders.

Okta 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.