Thematics Asset Management Has $14.13 Million Holdings in Okta, Inc. (NASDAQ:OKTA)

Thematics Asset Management raised its holdings in Okta, Inc. (NASDAQ:OKTA) by 30.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 190,000 shares of the company’s stock after acquiring an additional 44,000 shares during the quarter. Thematics Asset Management’s holdings in Okta were worth $14,125,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Brooklyn Investment Group bought a new position in Okta during the 3rd quarter worth approximately $53,000. Quantbot Technologies LP bought a new position in shares of Okta during the third quarter worth $4,242,000. The Manufacturers Life Insurance Company grew its holdings in shares of Okta by 3.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,737 shares of the company’s stock valued at $575,000 after buying an additional 250 shares during the period. Qsemble Capital Management LP acquired a new stake in Okta during the 3rd quarter worth $1,863,000. Finally, Truvestments Capital LLC raised its stake in Okta by 24.8% during the 3rd quarter. Truvestments Capital LLC now owns 3,547 shares of the company’s stock worth $264,000 after buying an additional 705 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on OKTA shares. Susquehanna cut their price objective on Okta from $110.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Bank of America lowered shares of Okta from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $135.00 to $75.00 in a report on Thursday, August 29th. Stifel Nicolaus lowered their target price on Okta from $122.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Canaccord Genuity Group reduced their price objective on Okta from $90.00 to $82.00 and set a “hold” rating for the company in a research report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft cut Okta from a “buy” rating to a “hold” rating and cut their target price for the company from $115.00 to $85.00 in a research note on Tuesday, November 12th. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $98.30.

Insider Transactions at Okta

In other news, CEO Todd Mckinnon sold 200,512 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $75.21, for a total transaction of $15,080,507.52. Following the completion of the transaction, the chief executive officer now directly owns 8,495 shares in the company, valued at $638,908.95. This trade represents a 95.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Larissa Schwartz sold 2,790 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $2,051,039.13. The trade was a 9.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 475,789 shares of company stock worth $35,701,361. Insiders own 7.00% of the company’s stock.

Okta Price Performance

NASDAQ OKTA traded down $0.90 during midday trading on Tuesday, hitting $75.60. The company had a trading volume of 539,944 shares, compared to its average volume of 1,954,076. The company has a market capitalization of $12.84 billion, a PE ratio of -91.07, a P/E/G ratio of 18.75 and a beta of 1.02. Okta, Inc. has a twelve month low of $66.69 and a twelve month high of $114.50. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $74.77 and a 200-day moving average price of $85.17.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $632.24 million. As a group, analysts anticipate that Okta, Inc. will post 0.19 earnings per share for the current fiscal year.

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.