Tidal Investments LLC Purchases 14,283 Shares of Okta, Inc. (NASDAQ:OKTA)

Tidal Investments LLC grew its position in Okta, Inc. (NASDAQ:OKTA) by 132.0% in the third quarter, HoldingsChannel.com reports. The fund owned 25,103 shares of the company’s stock after buying an additional 14,283 shares during the period. Tidal Investments LLC’s holdings in Okta were worth $1,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new position in Okta during the third quarter worth about $25,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Okta in the third quarter valued at approximately $26,000. Blue Trust Inc. boosted its stake in shares of Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after acquiring an additional 191 shares during the period. Legacy Investment Solutions LLC acquired a new position in shares of Okta during the 3rd quarter worth approximately $32,000. Finally, First Command Advisory Services Inc. bought a new stake in Okta in the 2nd quarter valued at $47,000. Institutional investors own 86.64% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Susquehanna upped their price objective on shares of Okta from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Citigroup increased their price target on shares of Okta from $90.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. upgraded Okta from a “neutral” rating to an “overweight” rating and set a $100.00 price objective for the company in a report on Monday. Bank of America lowered Okta from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $135.00 to $75.00 in a research note on Thursday, August 29th. Finally, UBS Group reduced their price target on Okta from $120.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $104.27.

Okta Price Performance

Okta stock opened at $84.76 on Tuesday. The stock has a 50-day moving average price of $77.10 and a two-hundred day moving average price of $83.40. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $114.50. The company has a market capitalization of $14.52 billion, a PE ratio of -242.17, a P/E/G ratio of 8.61 and a beta of 1.00. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06.

Insider Activity

In other Okta news, Director Jacques Frederic Kerrest sold 131,426 shares of Okta stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.68, for a total transaction 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. The trade was a 98.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Larissa Schwartz sold 2,797 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $77.63, for a total value of $217,131.11. Following the completion of the sale, the insider now directly owns 24,916 shares of the company’s stock, valued at approximately $1,934,229.08. The trade was a 10.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 604,425 shares of company stock valued at $46,098,322 over the last quarter. 7.00% of the stock is owned by company insiders.

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.