TrueMark Investments LLC Sells 6,025 Shares of Okta, Inc. (NASDAQ:OKTA)

TrueMark Investments LLC decreased its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 69.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,712 shares of the company's stock after selling 6,025 shares during the quarter. TrueMark Investments LLC's holdings in Okta were worth $285,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OKTA. Cambridge Investment Research Advisors Inc. lifted its position in shares of Okta by 3.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 31,025 shares of the company's stock valued at $3,264,000 after acquiring an additional 970 shares in the last quarter. Wolff Wiese Magana LLC grew its stake in Okta by 167.4% during the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock worth $26,000 after buying an additional 154 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Okta in the first quarter valued at about $495,000. Kentucky Retirement Systems purchased a new position in Okta in the 1st quarter worth approximately $1,163,000. Finally, Center for Financial Planning Inc. acquired a new stake in Okta during the 1st quarter valued at $47,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Larissa Schwartz sold 2,244 shares of the firm's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $100.00, for a total value of $224,400.00. Following the completion of the transaction, the insider now owns 23,640 shares of the company's stock, valued at approximately $2,364,000. This trade represents a 8.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Jonathan James Addison sold 7,005 shares of the stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $101.19, for a total transaction of $708,835.95. Following the transaction, the executive now owns 19,067 shares of the company's stock, valued at approximately $1,929,389.73. This represents a 26.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,354 shares of company stock worth $1,042,078 over the last quarter. 5.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. DA Davidson dropped their target price on shares of Okta from $145.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Royal Bank Of Canada cut their target price on Okta from $143.00 to $135.00 and set an "outperform" rating for the company in a research report on Wednesday, May 28th. UBS Group decreased their price target on shares of Okta from $150.00 to $130.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. Cantor Fitzgerald assumed coverage on shares of Okta in a research report on Monday, March 31st. They set an "overweight" rating and a $130.00 price objective on the stock. Finally, Evercore ISI upped their price objective on shares of Okta from $122.00 to $130.00 and gave the company an "outperform" rating in a research note on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $121.59.

Okta Trading Down 0.1%

Shares of Okta stock traded down $0.13 during trading on Tuesday, reaching $98.53. 3,029,296 shares of the company were exchanged, compared to its average volume of 3,045,987. The business has a 50-day moving average price of $109.15 and a 200-day moving average price of $99.70. The firm has a market capitalization of $17.25 billion, a price-to-earnings ratio of 156.40, a P/E/G ratio of 4.81 and a beta of 0.84. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.05. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last issued its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.77 by $0.09. The business had revenue of $688.00 million for the quarter, compared to the consensus estimate of $680.14 million. Okta had a return on equity of 2.79% and a net margin of 4.85%. The firm's revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 EPS. Sell-side analysts anticipate that Okta, Inc. will post 0.42 EPS for the current fiscal 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.