Union Bancaire Privee UBP SA Sells 149,252 Shares of Okta, Inc. (NASDAQ:OKTA)

Union Bancaire Privee UBP SA trimmed its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 57.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 111,345 shares of the company's stock after selling 149,252 shares during the period. Union Bancaire Privee UBP SA owned 0.06% of Okta worth $11,431,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of Jackson Hole Trust purchased a new stake in shares of Okta in the fourth quarter worth $25,000. TD Private Client Wealth LLC grew its stake in shares of Okta by 3,507.7% in the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock worth $37,000 after acquiring an additional 456 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Okta in the fourth quarter worth $40,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Okta in the fourth quarter worth $43,000. Finally, True Wealth Design LLC grew its stake in shares of Okta by 237.4% in the fourth quarter. True Wealth Design LLC now owns 577 shares of the company's stock worth $45,000 after acquiring an additional 406 shares during the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Okta

In related news, CRO Jonathan James Addison sold 7,005 shares of the firm'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 sale, the executive now owns 19,067 shares of the company's stock, valued at $1,929,389.73. This trade represents a 26.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Larissa Schwartz sold 11,552 shares of Okta stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total value of $1,317,967.68. Following the completion of the sale, the insider now directly owns 22,125 shares of the company's stock, valued at $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 a total of 24,452 shares of company stock valued at $2,697,360 over the last quarter. 5.68% of the stock is owned by company insiders.

Okta Stock Down 2.7%

Shares of NASDAQ:OKTA traded down $2.70 during trading on Friday, reaching $97.48. 2,236,031 shares of the company traded hands, compared to its average volume of 3,016,183. The firm has a fifty day simple moving average of $109.25 and a 200 day simple moving average of $98.69. The firm has a market cap of $17.07 billion, a P/E ratio of -278.51, a price-to-earnings-growth ratio of 6.42 and a beta of 0.84. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $127.57. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings data 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%. Okta's quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 EPS. Analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on OKTA. Westpark Capital reaffirmed a "buy" rating and set a $140.00 price objective on shares of Okta in a research report on Wednesday, May 28th. UBS Group dropped their price objective on Okta from $150.00 to $130.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. BTIG Research reaffirmed a "buy" rating on shares of Okta in a research report on Thursday, May 22nd. Citigroup increased their price objective on Okta from $100.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. Finally, DA Davidson dropped their price objective on Okta from $145.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. 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 stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $121.59.

Okta 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.