Avior Wealth Management LLC Sells 1,189 Shares of Okta, Inc. (NASDAQ:OKTA)

Avior Wealth Management LLC lowered its position in Okta, Inc. (NASDAQ:OKTA) by 24.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,732 shares of the company’s stock after selling 1,189 shares during the quarter. Avior Wealth Management LLC’s holdings in Okta were worth $338,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of OKTA. Northern Trust Corp lifted its holdings in Okta by 3.0% during the third quarter. Northern Trust Corp now owns 944,726 shares of the company’s stock worth $77,005,000 after buying an additional 27,577 shares during the period. RPG Investment Advisory LLC lifted its holdings in Okta by 57.2% during the fourth quarter. RPG Investment Advisory LLC now owns 77,269 shares of the company’s stock worth $6,995,000 after buying an additional 28,119 shares during the period. Pearl River Capital LLC lifted its holdings in Okta by 643.6% during the third quarter. Pearl River Capital LLC now owns 41,982 shares of the company’s stock worth $3,422,000 after buying an additional 36,336 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Okta by 2,721.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 176,071 shares of the company’s stock worth $15,940,000 after buying an additional 169,830 shares during the period. Finally, Aigen Investment Management LP purchased a new stake in Okta during the third quarter worth $923,000. Institutional investors own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Citigroup increased their price objective on Okta from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. Truist Financial reiterated a “hold” rating and set a $105.00 price objective (up previously from $85.00) on shares of Okta in a report on Thursday, February 29th. JPMorgan Chase & Co. increased their price objective on Okta from $74.00 to $88.00 and gave the company a “neutral” rating in a report on Monday, February 26th. BMO Capital Markets increased their price objective on Okta from $80.00 to $110.00 and gave the company a “market perform” rating in a report on Thursday, February 29th. Finally, The Goldman Sachs Group increased their price objective on Okta from $105.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Twenty analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $100.39.

Insider Activity

In other news, CAO Shibu Ninan sold 4,279 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $104.14, for a total transaction of $445,615.06. Following the sale, the chief accounting officer now directly owns 4,111 shares in the company, valued at approximately $428,119.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Shellye L. Archambeau sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $106.96, for a total transaction of $534,800.00. Following the sale, the director now directly owns 6,042 shares in the company, valued at approximately $646,252.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Shibu Ninan sold 4,279 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total transaction of $445,615.06. Following the completion of the transaction, the chief accounting officer now directly owns 4,111 shares in the company, valued at $428,119.54. The disclosure for this sale can be found here. Insiders have sold 11,779 shares of company stock worth $1,205,990 in the last ninety days. Company insiders own 7.36% of the company’s stock.

Okta Price Performance

Shares of OKTA opened at $92.03 on Friday. Okta, Inc. has a fifty-two week low of $65.04 and a fifty-two week high of $114.50. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.20. The business’s 50-day moving average is $98.96 and its two-hundred day moving average is $85.83.

Okta (NASDAQ:OKTA) last posted its earnings results on Wednesday, February 28th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.35. Okta had a negative return on equity of 5.69% and a negative net margin of 15.69%. The firm had revenue of $605.00 million for the quarter, compared to analysts’ expectations of $586.25 million. On average, sell-side analysts forecast that Okta, Inc. will post -1.51 EPS for the current fiscal year.

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.