Ieq Capital LLC Sells 3,179 Shares of Okta, Inc. (NASDAQ:OKTA)

Ieq Capital LLC reduced its holdings in Okta, Inc. (NASDAQ:OKTA) by 5.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 52,937 shares of the company’s stock after selling 3,179 shares during the quarter. Ieq Capital LLC’s holdings in Okta were worth $4,955,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Sands Capital Management LLC increased its holdings in Okta by 42.3% in 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 during the period. Norges Bank bought a new stake in shares of Okta in the 4th quarter valued at about $150,794,000. First Trust Advisors LP increased its stake in shares of Okta by 28.1% in the fourth quarter. First Trust Advisors LP now owns 4,085,430 shares of the company’s stock valued at $369,854,000 after buying an additional 897,216 shares during the period. Point72 Asset Management L.P. raised its position in shares of Okta by 1,465.8% during the fourth quarter. Point72 Asset Management L.P. now owns 682,900 shares of the company’s stock worth $61,823,000 after acquiring an additional 732,900 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake 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 acquiring an additional 438,496 shares during the period. Institutional investors own 86.64% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on OKTA shares. Truist Financial reissued a “hold” rating and set a $95.00 target price (down previously from $105.00) on shares of Okta in a research report on Thursday, August 29th. Needham & Company LLC reissued a “buy” rating and set a $130.00 target price on shares of Okta in a research note on Thursday, August 29th. Wells Fargo & Company dropped their target price on shares of Okta from $100.00 to $90.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. Scotiabank decreased their price target on Okta from $104.00 to $92.00 and set a “sector perform” rating for the company in a report on Thursday, August 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 price objective on shares of Okta in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $105.14.

Insider Activity at Okta

In other Okta news, CEO Todd Mckinnon sold 179,687 shares of Okta stock in a transaction on Friday, July 19th. The shares were sold at an average price of $93.42, for a total transaction of $16,786,359.54. Following the transaction, the chief executive officer now directly owns 47,883 shares of the company’s stock, valued at approximately $4,473,229.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Okta news, Director Jacques Frederic Kerrest sold 26,618 shares of Okta stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $100.29, for a total transaction of $2,669,519.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Todd Mckinnon sold 179,687 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $93.42, for a total value of $16,786,359.54. Following the completion of the transaction, the chief executive officer now owns 47,883 shares in the company, valued at approximately $4,473,229.86. The disclosure for this sale can be found here. In the last three months, insiders sold 347,411 shares of company stock valued at $32,837,280. 7.00% of the stock is owned by insiders.

Okta Stock Up 1.0 %

Shares of Okta stock opened at $75.75 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83. Okta, Inc. has a 52 week low of $65.04 and a 52 week high of $114.50. The business has a 50 day moving average price of $87.77 and a 200-day moving average price of $93.94.

Okta Company 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.