Clarity Capital Partners LLC Sells 377 Shares of Okta, Inc. (NASDAQ:OKTA)

Clarity Capital Partners LLC trimmed its stake in Okta, Inc. (NASDAQ:OKTA) by 2.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,190 shares of the company’s stock after selling 377 shares during the period. 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 institutional investors and hedge funds have also recently modified their holdings of the stock. Itau Unibanco Holding S.A. purchased a new position in shares of Okta during the 3rd quarter worth about $25,000. Blue Trust Inc. boosted 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 buying an additional 191 shares during the period. Legacy Investment Solutions LLC purchased a new position in shares of Okta during the third quarter valued at approximately $32,000. Modus Advisors LLC bought a new position in shares of Okta during the fourth quarter valued at approximately $44,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Okta in the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Trading Up 2.6 %

NASDAQ OKTA opened at $98.26 on Thursday. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $114.50. The company has a fifty day simple moving average of $86.85 and a two-hundred day simple moving average of $82.19. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Insider Activity at Okta

In related news, Director Jacques Frederic Kerrest sold 65,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $97.50, for a total value of $6,337,500.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Brett Tighe sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total transaction of $445,000.00. Following the completion of the transaction, the chief financial officer now owns 112,533 shares in the company, valued at approximately $10,015,437. This trade represents a 4.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 978,168 shares of company stock valued at $84,758,269 in the last ninety days. Company insiders own 7.00% of the company’s stock.

Analyst Upgrades and Downgrades

OKTA has been the topic of several research analyst reports. Robert W. Baird upped their price objective on Okta from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. BMO Capital Markets upped their price target on shares of Okta from $103.00 to $105.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $101.00 price target on shares of Okta in a research note on Wednesday, December 4th. Canaccord Genuity Group boosted their price objective on shares of Okta from $82.00 to $94.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Finally, Guggenheim reaffirmed a “buy” rating and set a $130.00 target price on shares of Okta in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Okta currently has a consensus rating of “Hold” and a consensus price target of $105.45.

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.