Parallel Advisors LLC Sells 276,288 Shares of Okta, Inc. (NASDAQ:OKTA) (2024)

Posted by Defense World Staff on Jun 2nd, 2024

Parallel Advisors LLC reduced its holdings in Okta, Inc. (NASDAQ:OKTA – Free Report) by 98.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,473 shares of the company’s stock after selling 276,288 shares during the period. Parallel Advisors LLC’s holdings in Okta were worth $314,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new position in Okta in the 3rd quarter worth approximately $27,000. GAMMA Investing LLC bought a new position in Okta in the 4th quarter worth approximately $29,000. Principal Securities Inc. bought a new position in Okta in the 4th quarter worth approximately $48,000. Quintet Private Bank Europe S.A. bought a new stake in shares of Okta during the third quarter valued at approximately $64,000. Finally, Tucker Asset Management LLC bought a new stake in shares of Okta during the third quarter valued at approximately $65,000. 86.64% of the stock is owned by institutional investors.

Insider Activity at Okta

In related news, Director Shellye L. Archambeau sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $106.96, for a total value of $534,800.00. Following the completion of the sale, the director now owns 6,042 shares in the company, valued at $646,252.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Okta news, CAO Shibu Ninan sold 4,279 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $104.14, for a total value of $445,615.06. Following the completion of the sale, the chief accounting officer now directly owns 4,111 shares in the company, valued at $428,119.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shellye L. Archambeau sold 5,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $106.96, for a total value of $534,800.00. Following the completion of the sale, the director now owns 6,042 shares of the company’s stock, valued at $646,252.32. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on OKTA. Evercore ISI upgraded Okta from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $102.00 to $122.00 in a research report on Thursday. BMO Capital Markets boosted their price objective on Okta from $80.00 to $110.00 and gave the company a “market perform” rating in a research report on Thursday, February 29th. Westpark Capital upgraded Okta from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research report on Thursday, February 29th. Wedbush reaffirmed an “outperform” rating and issued a $130.00 price target on shares of Okta in a research note on Wednesday. Finally, Bank of America raised Okta from an “underperform” rating to a “buy” rating and boosted their price target for the company from $64.00 to $135.00 in a research note on Thursday, February 29th. Nineteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $104.81.

View Our Latest Report on Okta

Okta Trading Down 0.1 %

NASDAQ OKTA opened at $88.68 on Friday. The stock has a 50-day simple moving average of $97.98 and a 200 day simple moving average of $90.48. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20. Okta, Inc. has a 12 month low of $65.04 and a 12 month high of $114.50.

Okta (NASDAQ:OKTA – Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.35. The business had revenue of $605.00 million during the quarter, compared to the consensus estimate of $586.25 million. Okta had a negative return on equity of 3.84% and a negative net margin of 11.69%. On average, analysts expect that Okta, Inc. will post -1.51 earnings per share for the current fiscal year.