Tidal Investments LLC Has $1.87 Million Holdings in Okta, Inc. (NASDAQ:OKTA)

Tidal Investments LLC boosted its stake in Okta, Inc. (NASDAQ:OKTA) by 132.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,103 shares of the company’s stock after buying an additional 14,283 shares during the quarter. Tidal Investments LLC’s holdings in Okta were worth $1,866,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Aaron Wealth Advisors LLC grew its position in Okta by 30.0% during the 2nd quarter. Aaron Wealth Advisors LLC now owns 2,872 shares of the company’s stock worth $269,000 after acquiring an additional 662 shares during the last quarter. Atria Wealth Solutions Inc. increased its stake 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 buying an additional 4,932 shares in the last quarter. Shelton Wealth Management LLC bought a new position in shares of Okta in the second quarter valued at about $1,022,000. Nicholas Company Inc. lifted its position in Okta by 6.0% during the 2nd quarter. Nicholas Company Inc. now owns 203,297 shares of the company’s stock worth $19,031,000 after buying an additional 11,585 shares in the last quarter. Finally, Rezny Wealth Management Inc. bought a new stake in Okta during the 2nd quarter worth about $1,194,000. 86.64% of the stock is currently owned by institutional investors.

Okta Stock Up 3.4 %

Okta stock opened at $84.76 on Tuesday. The company has a 50 day moving average of $77.10 and a 200-day moving average of $83.40. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $114.50. The stock has a market capitalization of $14.52 billion, a PE ratio of -242.17, a price-to-earnings-growth ratio of 8.61 and a beta of 1.00.

Analysts Set New Price Targets

OKTA has been the subject of a number of research analyst reports. Needham & Company LLC boosted their target price on shares of Okta from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Westpark Capital restated a “buy” rating and issued a $140.00 price objective on shares of Okta in a research report on Wednesday, December 4th. Piper Sandler increased their price objective on Okta from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group boosted their target price on Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Finally, Barclays upped their price target on Okta from $81.00 to $96.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $104.27.

Insider Buying and Selling

In other news, Director Jacques Frederic Kerrest sold 131,426 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $80.68, for a total transaction of $10,603,449.68. Following the completion of the transaction, the director now directly owns 1,622 shares in the company, valued at $130,862.96. This represents a 98.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Larissa Schwartz sold 2,791 shares of the firm’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 completion of the transaction, the insider now owns 22,125 shares of the company’s stock, valued at $1,581,937.50. The trade was a 11.20 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 604,425 shares of company stock valued at $46,098,322. 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.