Okta, Inc. (NASDAQ:OKTA) Shares Sold by Clarity Capital Partners LLC

Clarity Capital Partners LLC reduced its position in Okta, Inc. (NASDAQ:OKTA) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,190 shares of the company’s stock after selling 377 shares during the quarter. Clarity Capital Partners LLC’s holdings in Okta were worth $1,118,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of OKTA. Itau Unibanco Holding S.A. acquired a new stake in Okta during the third quarter worth $25,000. Blue Trust Inc. increased its position in shares of Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after acquiring an additional 191 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of Okta during the 3rd quarter worth approximately $32,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Okta in the fourth quarter valued at $44,000. Finally, Modus Advisors LLC purchased a new position in Okta during the 4th quarter valued at about $44,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. KeyCorp lifted their target price on Okta from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday. The Goldman Sachs Group raised their price objective on shares of Okta from $97.00 to $107.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Guggenheim reissued a “buy” rating and issued a $130.00 target price on shares of Okta in a report on Wednesday, December 4th. JPMorgan Chase & Co. upgraded Okta from a “neutral” rating to an “overweight” rating and set a $100.00 target price for the company in a research note on Monday, December 16th. Finally, Truist Financial restated a “hold” rating and set a $92.00 price objective (up previously from $80.00) on shares of Okta in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $105.45.

Okta Stock Performance

Shares of NASDAQ:OKTA opened at $98.26 on Thursday. The business has a 50 day moving average price of $86.85 and a 200 day moving average price of $82.19. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $114.50.

Insiders Place Their Bets

In other Okta news, CEO Todd Mckinnon sold 233,028 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $82.31, for a total value of $19,180,534.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $80.50, for a total value of $217,672.00. Following the completion of the sale, the insider now owns 24,462 shares of the company’s stock, valued at approximately $1,969,191. The trade was a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 978,168 shares of company stock worth $84,758,269 over the last 90 days. Corporate insiders own 7.00% of the company’s stock.

Okta 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.