Okta, Inc. (NASDAQ:OKTA) Holdings Lowered by Clarity Capital Partners LLC

Clarity Capital Partners LLC trimmed its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 74.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,601 shares of the company's stock after selling 10,589 shares during the period. Clarity Capital Partners LLC's holdings in Okta were worth $379,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wolff Wiese Magana LLC increased its holdings in Okta by 167.4% in the 1st quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock valued at $26,000 after purchasing an additional 154 shares in the last quarter. Rossby Financial LCC purchased a new stake in shares of Okta in the first quarter worth about $31,000. Center for Financial Planning Inc. acquired a new stake in shares of Okta in the first quarter valued at about $47,000. TD Private Client Wealth LLC raised its holdings in shares of Okta by 3,507.7% during 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 during the period. Finally, CX Institutional purchased a new stake in shares of Okta during the 1st quarter valued at about $52,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

OKTA has been the subject of several recent research reports. Roth Capital reaffirmed a "buy" rating and issued a $119.00 price objective on shares of Okta in a research report on Wednesday, May 28th. Westpark Capital reaffirmed a "buy" rating and set a $140.00 price target on shares of Okta in a report on Wednesday, May 28th. BTIG Research reiterated a "buy" rating on shares of Okta in a report on Thursday, May 22nd. UBS Group lowered their target price on Okta from $150.00 to $130.00 and set a "buy" rating for the company in a research note on Wednesday, May 28th. Finally, Morgan Stanley dropped their target price on Okta from $125.00 to $123.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. One 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's stock. Based on data from MarketBeat.com, Okta presently has an average rating of "Moderate Buy" and an average price target of $121.59.

Insider Transactions at Okta

In other news, Director Jacques Frederic Kerrest sold 581 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $100.29, for a total transaction of $58,268.49. Following the completion of the transaction, the director owned 2,832 shares in the company, valued at approximately $284,021.28. This trade represents a 17.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CRO Jonathan James Addison sold 7,005 shares of Okta stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $101.19, for a total transaction of $708,835.95. Following the completion of the transaction, the executive directly owned 19,067 shares in the company, valued at $1,929,389.73. This represents a 26.87% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 10,935 shares of company stock valued at $1,100,347. Company insiders own 5.68% of the company's stock.

Okta Stock Performance

OKTA traded up $0.95 during trading hours on Friday, hitting $99.09. The company's stock had a trading volume of 1,765,335 shares, compared to its average volume of 3,085,244. The company has a 50-day simple moving average of $109.28 and a 200 day simple moving average of $100.30. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $17.35 billion, a PE ratio of 157.29, a PEG ratio of 4.75 and a beta of 0.82. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last issued its quarterly earnings results on Tuesday, May 27th. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.09. The company had revenue of $688.00 million for the quarter, compared to analyst estimates of $680.14 million. Okta had a return on equity of 2.79% and a net margin of 4.85%. The company's quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the company earned $0.65 earnings per share. As a group, sell-side analysts expect that Okta, Inc. will post 0.42 EPS for the current 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.