Clarius Group LLC Sells 5,786 Shares of Okta, Inc. (NASDAQ:OKTA)

Clarius Group LLC cut its holdings in Okta, Inc. (NASDAQ:OKTA) by 10.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,581 shares of the company’s stock after selling 5,786 shares during the period. Clarius Group LLC’s holdings in Okta were worth $3,907,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in OKTA. Marshall Wace LLP increased its stake in Okta by 117.4% during the second quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock worth $212,841,000 after acquiring an additional 1,227,890 shares during the last quarter. Eminence Capital LP boosted its holdings in shares of Okta by 18.1% in the 2nd quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock worth $186,225,000 after purchasing an additional 305,381 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Okta by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company’s stock valued at $79,503,000 after purchasing an additional 17,950 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Okta by 20.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,029,753 shares of the company’s stock valued at $96,388,000 after buying an additional 178,011 shares during the period. Finally, Penserra Capital Management LLC raised its holdings in Okta by 9.8% during the 3rd quarter. Penserra Capital Management LLC now owns 767,962 shares of the company’s stock valued at $57,089,000 after buying an additional 68,757 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Stock Up 1.9 %

Okta stock opened at $87.29 on Friday. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $114.50. The business has a fifty day moving average price of $81.05 and a 200-day moving average price of $82.40. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market capitalization of $14.96 billion, a price-to-earnings ratio of -249.40, a PEG ratio of 8.52 and a beta of 1.00.

Insider Buying and Selling at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 131,426 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $80.68, for a total transaction of $10,603,449.68. Following the transaction, the director now owns 1,622 shares in the company, valued at approximately $130,862.96. This represents a 98.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Todd Mckinnon sold 233,028 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $82.31, for a total transaction of $19,180,534.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 369,949 shares of company stock worth $30,201,213. 7.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on OKTA. Westpark Capital reissued a “buy” rating and issued a $140.00 target price on shares of Okta in a research note on Wednesday, December 4th. Sanford C. Bernstein cut their price target on shares of Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a report on Tuesday, December 17th. Susquehanna raised their price objective on shares of Okta from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Stifel Nicolaus upped their target price on Okta from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Canaccord Genuity Group raised their price target on Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $104.61.

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.