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

Clarius Group LLC lowered its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 10.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Itau Unibanco Holding S.A. bought a new stake in shares of Okta in the 3rd quarter worth approximately $25,000. Future Financial Wealth Managment LLC purchased a new position in Okta during the third quarter valued at $26,000. Blue Trust Inc. boosted its holdings in Okta by 105.5% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after acquiring an additional 191 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in shares of Okta in the third quarter worth $32,000. Finally, Modus Advisors LLC bought a new position in shares of Okta during the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insider Activity at Okta

In other news, CEO Todd Mckinnon sold 233,028 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was 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 SEC, which can be accessed through this hyperlink. Also, Director Jacques Frederic Kerrest sold 131,426 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.68, for a total value of $10,603,449.68. Following the completion of the transaction, the director now directly owns 1,622 shares of the company’s stock, valued at approximately $130,862.96. This trade represents a 98.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 369,949 shares of company stock worth $30,201,213. 7.00% of the stock is owned by corporate insiders.

Okta Price Performance

Shares of NASDAQ:OKTA opened at $87.29 on Friday. The firm’s 50 day simple moving average is $81.05 and its two-hundred day simple moving average is $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 company has a market capitalization of $14.96 billion, a P/E ratio of -249.40, a P/E/G ratio of 8.52 and a beta of 1.00. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $114.50.

Wall Street Analysts Forecast Growth

OKTA has been the topic of several recent analyst reports. Scotiabank increased their price objective on shares of Okta from $92.00 to $96.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 4th. Robert W. Baird upped their target price on shares of Okta from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. KeyCorp raised shares of Okta from a “sector weight” rating to an “overweight” rating and set a $115.00 price target for the company in a research report on Thursday, December 19th. Wells Fargo & Company upped their price objective on Okta from $80.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Finally, BTIG Research boosted their price target on Okta from $98.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Okta currently has a consensus rating of “Hold” and an average target price 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.