CI Investments Inc. Invests $171,000 in Okta, Inc. (OKTA)

CI Investments Inc. bought a new stake in shares of Okta, Inc. (NASDAQ:OKTA) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,500 shares of the company’s stock, valued at approximately $171,000.

Several other large investors also recently bought and sold shares of the company. American Century Companies Inc. bought a new position in shares of Okta during the second quarter valued at approximately $201,000. Pacad Investment Ltd. bought a new position in shares of Okta during the second quarter valued at approximately $207,000. Wells Fargo & Company MN bought a new position in shares of Okta during the second quarter valued at approximately $242,000. Rhumbline Advisers bought a new position in shares of Okta during the second quarter valued at approximately $290,000. Finally, Schwab Charles Investment Management Inc. bought a new position in shares of Okta during the second quarter valued at approximately $418,000. 15.07% of the stock is owned by institutional investors.

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Several research firms have recently commented on OKTA. Canaccord Genuity upped their target price on Okta from $27.00 to $28.00 and gave the company a “hold” rating in a report on Friday. KeyCorp reaffirmed a “buy” rating and set a $35.00 target price on shares of Okta in a report on Friday. Zacks Investment Research lowered Okta from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Finally, Pacific Crest reaffirmed an “outperform” rating and set a $32.00 target price on shares of Okta in a report on Monday, June 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $30.80.

Okta, Inc. (NASDAQ OKTA) traded up 11.73% during trading on Friday, hitting $30.30. The stock had a trading volume of 1,682,349 shares. The stock has a 50-day moving average price of $24.51 and a 200-day moving average price of $24.26. The company’s market cap is $2.84 billion. Okta, Inc. has a 52 week low of $10.09 and a 52 week high of $30.56.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Thursday, September 7th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by $0.03. The business had revenue of $61 million for the quarter, compared to analysts’ expectations of $55.90 million. Okta’s revenue was up 63.1% on a year-over-year basis. Equities analysts predict that Okta, Inc. will post ($1.13) EPS for the current year.

Okta Profile

Okta, Inc is a United States-based independent provider of identity for the enterprise. The Company’s Okta Identity Cloud connects and protects employees. It also connects enterprises to their partners, suppliers and customers. The Company offers products, such as Okta information technology (IT) Products and Okta for Developers.

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Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

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