Miracle Mile Advisors LLC Sells 791 Shares of Okta, Inc. (NASDAQ:OKTA)

Miracle Mile Advisors LLC lowered its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 16.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,164 shares of the company’s stock after selling 791 shares during the period. Miracle Mile Advisors LLC’s holdings in Okta were worth $436,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in OKTA. Cerity Partners LLC grew its holdings in shares of Okta by 6,192.3% during the 4th quarter. Cerity Partners LLC now owns 3,172,223 shares of the company’s stock valued at $287,181,000 after purchasing an additional 3,121,809 shares during the last quarter. Sands Capital Management LLC grew its holdings in Okta by 42.3% in the 4th quarter. Sands Capital Management LLC now owns 8,358,414 shares of the company’s stock worth $756,687,000 after acquiring an additional 2,486,456 shares during the last quarter. Norges Bank bought a new stake in Okta in the 4th quarter worth $150,794,000. First Trust Advisors LP grew its holdings in Okta by 28.1% in the 4th quarter. First Trust Advisors LP now owns 4,085,430 shares of the company’s stock worth $369,854,000 after acquiring an additional 897,216 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in Okta by 1,465.8% in the 4th 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. Institutional investors own 86.64% of the company’s stock.

Insider Buying and Selling at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 18,878 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $87.19, for a total transaction of $1,645,972.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 7.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on OKTA shares. JPMorgan Chase & Co. raised their price target on shares of Okta from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 price target on shares of Okta in a report on Monday, June 17th. Guggenheim reissued a “buy” rating and issued a $130.00 price target on shares of Okta in a report on Tuesday, June 25th. Wedbush reissued an “outperform” rating and issued a $130.00 price target on shares of Okta in a report on Wednesday, May 29th. Finally, Evercore ISI raised shares of Okta from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $102.00 to $122.00 in a report on Thursday, May 30th. Nineteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $105.58.

Okta Stock Up 1.0 %

NASDAQ:OKTA opened at $94.55 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.73 and a current ratio of 1.73. Okta, Inc. has a fifty-two week low of $65.04 and a fifty-two week high of $114.50. The firm has a 50-day simple moving average of $93.43 and a two-hundred day simple moving average of $93.02.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Wednesday, May 29th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.27. The business had revenue of $617.00 million during the quarter, compared to analyst estimates of $604.33 million. Okta had a negative net margin of 11.69% and a negative return on equity of 3.81%. On average, analysts forecast that Okta, Inc. will post -0.28 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.