Tidal Investments LLC Grows Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Tidal Investments LLC grew its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 132.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,103 shares of the company's stock after purchasing an additional 14,283 shares during the quarter. Tidal Investments LLC's holdings in Okta were worth $1,866,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Aaron Wealth Advisors LLC increased its position in Okta by 30.0% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 2,872 shares of the company's stock valued at $269,000 after acquiring an additional 662 shares during the period. Atria Wealth Solutions Inc. increased its holdings in shares of Okta by 75.4% in the second quarter. Atria Wealth Solutions Inc. now owns 11,477 shares of the company's stock valued at $1,074,000 after purchasing an additional 4,932 shares during the period. Shelton Wealth Management LLC purchased a new stake in shares of Okta during the second quarter worth approximately $1,022,000. Nicholas Company Inc. raised its stake in shares of Okta by 6.0% during the second quarter. Nicholas Company Inc. now owns 203,297 shares of the company's stock worth $19,031,000 after purchasing an additional 11,585 shares during the last quarter. Finally, Rezny Wealth Management Inc. acquired a new stake in shares of Okta during the second quarter worth $1,194,000. Institutional investors and hedge funds own 86.64% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on OKTA. BMO Capital Markets boosted their price objective on shares of Okta from $103.00 to $105.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Royal Bank of Canada reiterated an "outperform" rating and set a $101.00 price target on shares of Okta in a research note on Wednesday, December 4th. Canaccord Genuity Group raised 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. JMP Securities reiterated a "market perform" rating on shares of Okta in a research report on Wednesday, December 4th. Finally, Susquehanna increased their target price on Okta from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Okta has a consensus rating of "Hold" and an average price target of $104.43.

Insider Activity

In related news, Director Jacques Frederic Kerrest sold 131,426 shares of the stock in a transaction on 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 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Larissa Schwartz sold 2,791 shares of the business's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $71.50, for a total value of $199,556.50. Following the sale, the insider now directly owns 22,125 shares of the company's stock, valued at approximately $1,581,937.50. This trade represents a 11.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 604,425 shares of company stock valued at $46,098,322 over the last quarter. Company insiders own 7.00% of the company's stock.

Okta Trading Up 0.8 %

OKTA stock traded up $0.66 during midday trading on Tuesday, hitting $85.42. The stock had a trading volume of 4,700,144 shares, compared to its average volume of 2,157,817. The company's 50-day moving average price is $77.10 and its 200 day moving average price is $83.40. 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 firm has a market cap of $14.64 billion, a PE ratio of -240.77, a price-to-earnings-growth ratio of 8.61 and a beta of 1.00. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $114.50.

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.