RPG Investment Advisory LLC Sells 381 Shares of Okta, Inc. (NASDAQ:OKTA)

RPG Investment Advisory LLC reduced its holdings in Okta, Inc. (NASDAQ:OKTA) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,405 shares of the company’s stock after selling 381 shares during the quarter. RPG Investment Advisory LLC’s holdings in Okta were worth $7,246,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gilbert & Cook Inc. raised its position in shares of Okta by 21.4% in the 4th quarter. Gilbert & Cook Inc. now owns 15,196 shares of the company’s stock worth $1,376,000 after acquiring an additional 2,676 shares in the last quarter. Private Advisor Group LLC bought a new stake in Okta during the fourth quarter valued at about $1,975,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Okta by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 967,688 shares of the company’s stock worth $87,605,000 after purchasing an additional 29,591 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of Okta in the fourth quarter worth about $48,000. Finally, Versor Investments LP increased its stake in Okta by 50.6% during the fourth quarter. Versor Investments LP now owns 5,788 shares of the company’s stock worth $524,000 after acquiring an additional 1,945 shares during the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Okta

In related news, insider Larissa Schwartz sold 2,795 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $92.02, for a total value of $257,195.90. Following the sale, the insider now owns 27,014 shares in the company, valued at approximately $2,485,828.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Larissa Schwartz sold 2,795 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $92.02, for a total value of $257,195.90. Following the sale, the insider now owns 27,014 shares in the company, valued at approximately $2,485,828.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jacques Frederic Kerrest sold 26,618 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $100.29, for a total value of $2,669,519.22. The disclosure for this sale can be found here. Insiders have sold 346,173 shares of company stock worth $32,765,801 over the last quarter. 7.00% of the stock is currently owned by company insiders.

Okta Stock Performance

Shares of Okta stock opened at $71.27 on Tuesday. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50. The company has a market cap of $12.11 billion, a price-to-earnings ratio of -42.68, a PEG ratio of 40.12 and a beta of 1.02. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83. The business’s 50 day moving average price is $91.12 and its 200 day moving average price is $95.05.

Analysts Set New Price Targets

Several equities analysts have recently commented on OKTA shares. Piper Sandler cut their price target on Okta from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. BMO Capital Markets upped their price target on Okta from $100.00 to $103.00 and gave the stock a “market perform” rating in a research report on Thursday, August 29th. Robert W. Baird reduced their target price on Okta from $108.00 to $105.00 and set an “outperform” rating for the company in a research note on Thursday, August 29th. Bank of America lowered Okta from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $135.00 to $75.00 in a research note on Thursday, August 29th. Finally, Jefferies Financial Group reduced their target price on Okta from $110.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Okta presently has an average rating of “Hold” and a consensus target price of $105.14.

Okta Company 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.