Clarity Capital Partners LLC Reduces Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Clarity Capital Partners LLC decreased its holdings in shares of Okta, Inc. (NASDAQ:OKTAFree Report) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,488 shares of the company’s stock after selling 307 shares during the quarter. Okta comprises approximately 1.9% of Clarity Capital Partners LLC’s portfolio, making the stock its 12th biggest holding. Clarity Capital Partners LLC’s holdings in Okta were worth $2,876,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Okta by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 15,719,619 shares of the company’s stock worth $1,423,097,000 after purchasing an additional 438,496 shares during the period. Sands Capital Management LLC increased its stake in shares of Okta by 42.3% during the fourth quarter. Sands Capital Management LLC now owns 8,358,414 shares of the company’s stock valued at $756,687,000 after purchasing an additional 2,486,456 shares in the last quarter. First Trust Advisors LP increased its position in shares of Okta by 28.1% during the fourth quarter. First Trust Advisors LP now owns 4,085,430 shares of the company’s stock valued at $369,854,000 after acquiring an additional 897,216 shares in the last quarter. Cerity Partners LLC boosted its holdings in Okta by 6,192.3% in the fourth quarter. Cerity Partners LLC now owns 3,172,223 shares of the company’s stock worth $287,181,000 after purchasing an additional 3,121,809 shares during the last quarter. Finally, Eminence Capital LP grew its position in shares of Okta by 19.4% during the 4th quarter. Eminence Capital LP now owns 1,910,621 shares of the company’s stock valued at $172,969,000 after acquiring an additional 310,918 shares during the period. Institutional investors own 86.64% of the company’s stock.

Okta Stock Down 2.0 %

OKTA traded down $1.85 during trading on Wednesday, hitting $92.79. The stock had a trading volume of 1,438,898 shares, compared to its average volume of 1,875,765. The company has a market capitalization of $15.61 billion, a PE ratio of -55.56 and a beta of 1.03. Okta, Inc. has a twelve month low of $65.04 and a twelve month high of $114.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.73 and a current ratio of 1.73. The stock has a 50 day simple moving average of $93.64 and a two-hundred day simple moving average of $93.39.

Okta (NASDAQ:OKTAGet Free Report) last announced its earnings results on Wednesday, May 29th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.27. The company had revenue of $617.00 million during the quarter, compared to the consensus estimate of $604.33 million. Okta had a negative net margin of 11.69% and a negative return on equity of 3.81%. On average, research analysts predict that Okta, Inc. will post -0.28 earnings per share for the current year.

Insiders Place Their Bets

In other Okta news, Director Jacques Frederic Kerrest sold 34,620 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $96.04, for a total value of $3,324,904.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders sold 60,430 shares of company stock valued at $5,619,337. Insiders own 7.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on OKTA shares. Mizuho upped their target price on shares of Okta from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, May 17th. Evercore ISI raised shares of Okta from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $102.00 to $122.00 in a report on Thursday, May 30th. JPMorgan Chase & Co. increased their price objective on shares of Okta from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Susquehanna dropped their price objective on shares of Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. Finally, Wedbush reissued an “outperform” rating and set a $130.00 price objective on shares of Okta in a report on Wednesday, May 29th. Nineteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Okta presently has an average rating of “Hold” and an average target price of $105.58.

View Our Latest Stock Report on Okta

About Okta

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

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