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

RPG Investment Advisory LLC trimmed its position in shares of Okta, Inc. (NASDAQ:OKTA) by 0.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,405 shares of the company’s stock after selling 381 shares during the period. RPG Investment Advisory LLC’s holdings in Okta were worth $7,246,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Banque Cantonale Vaudoise boosted its position in Okta by 4.3% in the 1st quarter. Banque Cantonale Vaudoise now owns 2,933 shares of the company’s stock valued at $307,000 after buying an additional 122 shares during the period. Caprock Group LLC increased its stake in shares of Okta by 4.7% in the second quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock worth $267,000 after acquiring an additional 129 shares during the period. National Bank of Canada FI grew its position in Okta by 11.0% during the second quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock valued at $124,000 after buying an additional 130 shares during the period. EverSource Wealth Advisors LLC grew its position in Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after buying an additional 142 shares during the period. Finally, CWM LLC grew its position in Okta by 5.3% during the second quarter. CWM LLC now owns 2,910 shares of the company’s stock valued at $272,000 after buying an additional 147 shares during the period. 86.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on OKTA shares. Canaccord Genuity Group dropped their target price on shares of Okta from $95.00 to $90.00 and set a “hold” rating on the stock in a research report on Thursday, August 29th. Stifel Nicolaus reduced their target price on shares of Okta from $122.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Wedbush reissued an “outperform” rating and issued a $130.00 price target on shares of Okta in a research note on Wednesday, May 29th. Susquehanna dropped their price objective on shares of Okta from $110.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Finally, Robert W. Baird dropped their price objective on shares of Okta from $108.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Okta has a consensus rating of “Hold” and a consensus target price of $105.14.

Okta Trading Down 1.6 %

NASDAQ:OKTA opened at $71.27 on Tuesday. The company has a market cap of $12.11 billion, a P/E ratio of -42.68, a price-to-earnings-growth ratio of 40.12 and a beta of 1.02. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18. Okta, Inc. has a twelve month low of $65.04 and a twelve month high of $114.50. The business has a 50 day moving average price of $91.12 and a two-hundred day moving average price of $95.05.

Insider Activity at Okta

In other Okta news, CEO Todd Mckinnon sold 179,687 shares of the stock in a transaction on Friday, July 19th. The stock was sold at an average price of $93.42, for a total transaction of $16,786,359.54. Following the transaction, the chief executive officer now owns 47,883 shares in the company, valued at approximately $4,473,229.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Okta news, insider Larissa Schwartz sold 2,792 shares of Okta stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $99.40, for a total value of $277,524.80. Following the completion of the sale, the insider now directly owns 29,809 shares in the company, valued at $2,963,014.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Todd Mckinnon sold 179,687 shares of Okta stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $93.42, for a total value of $16,786,359.54. Following the completion of the sale, the chief executive officer now owns 47,883 shares of the company’s stock, valued at $4,473,229.86. The disclosure for this sale can be found here. In the last quarter, insiders have sold 346,173 shares of company stock worth $32,765,801. Company insiders own 7.00% of the company’s stock.

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.