IQ EQ FUND MANAGEMENT IRELAND Ltd Has $5.20 Million Stake in Okta, Inc. (NASDAQ:OKTA)

IQ EQ FUND MANAGEMENT IRELAND Ltd increased its position in shares of Okta, Inc. (NASDAQ:OKTA) by 5.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 65,931 shares of the company’s stock after purchasing an additional 3,558 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Okta were worth $5,195,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. WINTON GROUP Ltd bought a new stake in shares of Okta in the fourth quarter valued at about $2,244,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Okta by 12.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 120,834 shares of the company’s stock worth $9,759,000 after purchasing an additional 13,279 shares in the last quarter. Korea Investment CORP grew its position in shares of Okta by 2.5% during the 4th quarter. Korea Investment CORP now owns 160,216 shares of the company’s stock worth $12,625,000 after purchasing an additional 3,917 shares in the last quarter. Blue Grotto Capital LLC bought a new position in shares of Okta during the fourth quarter worth approximately $11,796,000. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Okta by 1.9% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 73,621 shares of the company’s stock valued at $5,801,000 after buying an additional 1,404 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

Okta Price Performance

Shares of OKTA opened at $114.02 on Thursday. 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, Inc. has a 1 year low of $70.56 and a 1 year high of $118.07. The business has a 50-day moving average of $99.41 and a 200-day moving average of $85.25. The company has a market capitalization of $19.79 billion, a price-to-earnings ratio of -325.77, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09.

Insiders Place Their Bets

In other Okta news, Director Jacques Frederic Kerrest sold 3,306 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $88.85, for a total value of $293,738.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 in the company, valued at $2,524,241.25. This represents a 34.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 763,901 shares of company stock worth $70,880,205. Corporate insiders own 7.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on OKTA shares. BTIG Research restated a “buy” rating on shares of Okta in a research note on Tuesday, March 4th. Barclays boosted their price target on Okta from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. increased their price objective on shares of Okta from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. UBS Group set a $135.00 target price on shares of Okta in a research report on Tuesday, March 4th. Finally, Robert W. Baird increased their price target on shares of Okta from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, Okta has a consensus rating of “Moderate Buy” and a consensus target price of $115.29.

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.