Okta, Inc. (NASDAQ:OKTA) Shares Sold by Clarius Group LLC

Clarius Group LLC reduced its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 18.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,436 shares of the company's stock after selling 9,145 shares during the period. Clarius Group LLC's holdings in Okta were worth $4,255,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC grew its position in Okta by 7.2% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 1,484 shares of the company's stock worth $156,000 after purchasing an additional 100 shares during the last quarter. Frank Rimerman Advisors LLC grew its position in Okta by 2.4% during the 4th quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company's stock worth $352,000 after purchasing an additional 105 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Okta by 1.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 7,873 shares of the company's stock worth $620,000 after purchasing an additional 136 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in Okta by 3.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,646 shares of the company's stock worth $445,000 after purchasing an additional 171 shares during the last quarter. Finally, Great Lakes Advisors LLC grew its position in Okta by 2.7% during the 4th quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company's stock worth $557,000 after purchasing an additional 184 shares during the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta Price Performance

Shares of NASDAQ OKTA traded up $0.33 on Thursday, hitting $99.00. The company's stock had a trading volume of 2,462,279 shares, compared to its average volume of 3,030,155. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $127.57. The company has a market capitalization of $17.33 billion, a price-to-earnings ratio of 157.15, a price-to-earnings-growth ratio of 4.79 and a beta of 0.84. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a 50 day moving average of $109.24 and a 200-day moving average of $99.27.

Okta (NASDAQ:OKTA - Get Free Report) last announced 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 company had revenue of $688.00 million for the quarter, compared to the consensus estimate of $680.14 million. Okta had a net margin of 4.85% and a return on equity of 2.79%. The company's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.65 earnings per share. As a group, research analysts predict that Okta, Inc. will post 0.42 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on OKTA. Wells Fargo & Company raised their price objective on shares of Okta from $100.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 28th. JPMorgan Chase & Co. lifted their target price on shares of Okta from $120.00 to $140.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Roth Capital reaffirmed a "buy" rating and issued a $119.00 target price on shares of Okta in a report on Wednesday, May 28th. Stifel Nicolaus lifted their target price on shares of Okta from $120.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Finally, KeyCorp lifted their target price on shares of Okta from $125.00 to $135.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.59.

Insider Activity

In other news, CRO Jonathan James Addison sold 7,005 shares of the business's stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $101.19, for a total value of $708,835.95. Following the completion of the transaction, the executive now owns 19,067 shares of the company's stock, valued at $1,929,389.73. The trade was a 26.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 5.68% of the company's stock.

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.