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

Thompson Investment Management Inc. boosted its stake in Okta, Inc. (NASDAQ:OKTA) by 7,743.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,432 shares of the company’s stock after acquiring an additional 6,350 shares during the period. Thompson Investment Management Inc.’s holdings in Okta were worth $677,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of Jackson Hole Trust acquired a new stake in Okta during the fourth quarter worth approximately $25,000. TD Private Client Wealth LLC increased its position in Okta by 3,507.7% in the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock valued at $37,000 after buying an additional 456 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in Okta in the fourth quarter worth approximately $40,000. Brown Brothers Harriman & Co. bought a new stake in shares of Okta during the fourth quarter valued at approximately $43,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in Okta during the fourth quarter worth $44,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on OKTA. Citigroup raised their price objective on Okta from $100.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Oppenheimer raised their price objective on shares of Okta from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. Canaccord Genuity Group upped their price objective on Okta from $100.00 to $115.00 and gave the company a “hold” rating in a research note on Wednesday, May 28th. BMO Capital Markets set a $132.00 target price on Okta and gave the stock a “market perform” rating in a research report on Wednesday, May 28th. Finally, BTIG Research restated a “buy” rating on shares of Okta in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, Okta currently has a consensus rating of “Moderate Buy” and an average price target of $121.59.

Insiders Place Their Bets

In other Okta news, insider Eric Robert Kelleher sold 5,895 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $113.75, for a total value of $670,556.25. Following the sale, the insider now owns 9,828 shares of the company’s stock, valued at $1,117,935. This trade represents a 37.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Larissa Schwartz sold 11,552 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were 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 approximately $2,524,241.25. This trade represents a 34.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,452 shares of company stock valued at $2,697,360 in the last ninety days. Company insiders own 5.68% of the company’s stock.

Okta Price Performance

OKTA stock opened at $100.78 on Wednesday. The firm has a market cap of $17.64 billion, a P/E ratio of -287.94, a P/E/G ratio of 6.42 and a beta of 0.84. The firm’s fifty day moving average is $108.78 and its 200 day moving average is $98.37. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $127.57. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

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

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.