Okta, Inc. (NASDAQ:OKTA) Shares Sold by Tidal Investments LLC

Tidal Investments LLC lowered its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 28.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,940 shares of the company's stock after selling 7,163 shares during the period. Tidal Investments LLC's holdings in Okta were worth $1,414,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in OKTA. Ballentine Partners LLC acquired a new position in shares of Okta in the fourth quarter valued at approximately $204,000. Avior Wealth Management LLC grew its holdings in shares of Okta by 4,844.2% in the fourth quarter. Avior Wealth Management LLC now owns 3,807 shares of the company's stock valued at $300,000 after purchasing an additional 3,730 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Okta by 149.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 10,466 shares of the company's stock worth $825,000 after acquiring an additional 6,268 shares in the last quarter. Linden Thomas Advisory Services LLC grew its holdings in Okta by 6.6% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 16,130 shares of the company's stock worth $1,271,000 after acquiring an additional 1,004 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in Okta by 103.8% during the 4th quarter. Blue Trust Inc. now owns 758 shares of the company's stock worth $56,000 after acquiring an additional 386 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

Analyst Upgrades and Downgrades

OKTA has been the subject of several analyst reports. Citigroup boosted their price target on shares of Okta from $100.00 to $110.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. Wells Fargo & Company boosted their price target on shares of Okta from $100.00 to $110.00 and gave the stock an "equal weight" rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Okta from $120.00 to $140.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. KeyCorp boosted their price target on shares of Okta from $125.00 to $135.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. Finally, BMO Capital Markets lowered their target price on shares of Okta from $135.00 to $132.00 and set a "market perform" rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $121.83.

Insider Activity

In other news, Director Jacques Frederic Kerrest sold 130,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $105.00, for a total value of $13,650,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Larissa Schwartz sold 11,552 shares of the 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 completion of the sale, the insider now directly owns 22,125 shares in the company, valued at approximately $2,524,241.25. The trade was a 34.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 154,452 shares of company stock worth $16,347,360 in the last 90 days. 5.68% of the stock is currently owned by corporate insiders.

Okta Stock Performance

Okta stock traded down $20.28 during trading hours on Wednesday, reaching $105.22. 28,568,896 shares of the stock were exchanged, compared to its average volume of 2,935,295. The stock has a market cap of $18.27 billion, a P/E ratio of -300.63, a P/E/G ratio of 6.42 and a beta of 0.96. 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, Inc. has a 52-week low of $70.56 and a 52-week high of $127.57. The firm's 50 day moving average is $109.90 and its 200 day moving average is $96.42.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.09. The company had revenue of $688.00 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 EPS. Analysts predict that Okta, Inc. will post 0.42 EPS for the current fiscal year.

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.