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

Ieq Capital LLC lessened its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 5.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 52,937 shares of the company’s stock after selling 3,179 shares during the period. Ieq Capital LLC’s holdings in Okta were worth $4,955,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Okta by 2.9% during the 4th 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 last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of Okta by 19.5% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 3,405 shares of the company’s stock valued at $308,000 after buying an additional 556 shares during the period. Los Angeles Capital Management LLC lifted its position in shares of Okta by 282.5% during the 1st quarter. Los Angeles Capital Management LLC now owns 248,658 shares of the company’s stock valued at $26,015,000 after buying an additional 183,643 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Okta by 28.6% during the 1st quarter. Principal Financial Group Inc. now owns 13,144 shares of the company’s stock worth $1,375,000 after acquiring an additional 2,925 shares during the period. Finally, SG Americas Securities LLC increased its holdings in Okta by 639.6% in the 1st quarter. SG Americas Securities LLC now owns 70,895 shares of the company’s stock worth $7,417,000 after acquiring an additional 61,309 shares during the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on OKTA. BMO Capital Markets upped their price objective on shares of Okta from $100.00 to $103.00 and gave the company a “market perform” rating in a report on Thursday, August 29th. The Goldman Sachs Group cut their price objective on shares of Okta from $130.00 to $113.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Canaccord Genuity Group lowered their target price on shares of Okta from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday, August 29th. Jefferies Financial Group cut their price target on Okta from $110.00 to $100.00 and set a “hold” rating for the company in a report on Thursday, August 29th. Finally, Piper Sandler decreased their price objective on Okta from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $105.14.

Insiders Place Their Bets

In other news, insider Larissa Schwartz sold 2,790 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.01, for a total value of $206,487.90. Following the completion of the sale, the insider now owns 27,713 shares of the company’s stock, valued at approximately $2,051,039.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Larissa Schwartz sold 2,790 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.01, for a total value of $206,487.90. Following the completion of the sale, the insider now owns 27,713 shares of the company’s stock, valued at approximately $2,051,039.13. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jacques Frederic Kerrest sold 2,100 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $95.12, for a total value of $199,752.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 347,411 shares of company stock valued at $32,837,280. 7.00% of the stock is currently owned by corporate insiders.

Okta Price Performance

Shares of NASDAQ OKTA opened at $75.75 on Friday. The stock’s 50-day moving average is $87.77 and its 200 day moving average is $93.94. Okta, Inc. has a 1-year low of $65.04 and a 1-year high of $114.50. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83.

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.