Squarepoint Ops LLC lowered its stake in Okta Inc (NASDAQ:OKTA) by 88.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,992 shares of the company’s stock after selling 48,176 shares during the quarter. Squarepoint Ops LLC’s holdings in Okta were worth $733,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Asset Management One Co. Ltd. lifted its stake in shares of Okta by 2.0% in the 4th quarter. Asset Management One Co. Ltd. now owns 52,405 shares of the company’s stock valued at $6,046,000 after purchasing an additional 1,006 shares during the period. Cetera Advisor Networks LLC acquired a new position in shares of Okta in the 4th quarter valued at $205,000. Invesco Ltd. lifted its stake in shares of Okta by 33.8% in the 1st quarter. Invesco Ltd. now owns 323,059 shares of the company’s stock valued at $39,498,000 after purchasing an additional 81,624 shares during the period. BlackRock Inc. lifted its stake in shares of Okta by 0.3% in the 1st quarter. BlackRock Inc. now owns 7,688,692 shares of the company’s stock valued at $940,021,000 after purchasing an additional 22,883 shares during the period. Finally, Cetera Investment Advisers lifted its stake in shares of Okta by 2.4% in the 1st quarter. Cetera Investment Advisers now owns 4,279 shares of the company’s stock valued at $523,000 after purchasing an additional 100 shares during the period. 75.57% of the stock is currently owned by institutional investors.

In other news, insider Charles Race sold 50,000 shares of the stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $132.45, for a total transaction of $6,622,500.00. Following the completion of the transaction, the insider now directly owns 65,401 shares in the company, valued at approximately $8,662,362.45. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Todd Mckinnon sold 159,641 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $198.87, for a total transaction of $31,747,805.67. Following the transaction, the chief executive officer now owns 90,323 shares of the company’s stock, valued at $17,962,535.01. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 536,287 shares of company stock valued at $93,666,752. Company insiders own 12.02% of the company’s stock.

A number of analysts recently commented on OKTA shares. Needham & Company LLC started coverage on shares of Okta in a research report on Friday, May 29th. They issued a “hold” rating for the company. Oppenheimer upped their price objective on shares of Okta from $130.00 to $185.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Piper Sandler restated a “buy” rating and issued a $190.00 price objective on shares of Okta in a research report on Monday, June 8th. DA Davidson upped their price objective on shares of Okta from $140.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Finally, Cowen upped their price objective on shares of Okta from $150.00 to $195.00 and gave the company an “outperform” rating in a research report on Tuesday, May 26th. Seven investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $181.56.

OKTA stock opened at $199.84 on Tuesday. The stock has a 50-day moving average price of $188.28 and a two-hundred day moving average price of $143.72. Okta Inc has a 1 year low of $88.66 and a 1 year high of $206.09. The company has a current ratio of 2.86, a quick ratio of 2.86 and a debt-to-equity ratio of 2.52. The stock has a market cap of $25.36 billion, a PE ratio of -111.64 and a beta of 1.07.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Thursday, May 28th. The company reported ($0.07) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.10. Okta had a negative net margin of 33.34% and a negative return on equity of 44.99%. The company had revenue of $182.86 million during the quarter, compared to the consensus estimate of $171.57 million. During the same period in the prior year, the business posted ($0.19) EPS. The company’s quarterly revenue was up 46.0% on a year-over-year basis. On average, analysts forecast that Okta Inc will post -1.51 earnings per share for the current fiscal year.

Okta Company Profile

Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.

Read More: What are the economic characteristics of a bear market?

Institutional Ownership by Quarter for Okta (NASDAQ:OKTA)

Receive News & Ratings for Okta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Okta and related companies with MarketBeat.com's FREE daily email newsletter.