Mezzasalma Advisors LLC Has $338,000 Stock Position in Okta, Inc. (NASDAQ:OKTA)

Mezzasalma Advisors LLC lessened its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 30.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,230 shares of the company’s stock after selling 1,390 shares during the quarter. Mezzasalma Advisors LLC’s holdings in Okta were worth $338,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OKTA. First Trust Direct Indexing L.P. raised its holdings in Okta by 15.8% during the 1st quarter. First Trust Direct Indexing L.P. now owns 2,848 shares of the company’s stock worth $298,000 after buying an additional 388 shares during the period. Oak Thistle LLC bought a new position in shares of Okta during the 1st quarter worth approximately $785,000. Diversified Trust Co raised its holdings in shares of Okta by 1.9% in the first quarter. Diversified Trust Co now owns 19,990 shares of the company’s stock valued at $2,091,000 after purchasing an additional 377 shares during the last quarter. Blue Zone Wealth Advisors LLC lifted its position in shares of Okta by 5.7% in the first quarter. Blue Zone Wealth Advisors LLC now owns 5,433 shares of the company’s stock worth $568,000 after purchasing an additional 291 shares in the last quarter. Finally, MCF Advisors LLC bought a new stake in shares of Okta in the first quarter worth $318,000. 86.64% of the stock is currently owned by institutional investors.

Okta Stock Performance

NASDAQ:OKTA traded up $0.18 during mid-day trading on Thursday, reaching $93.79. 563,728 shares of the company’s stock were exchanged, compared to its average volume of 1,579,424. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.73 and a current ratio of 1.73. The firm has a market capitalization of $15.78 billion, a PE ratio of -56.16 and a beta of 1.03. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50. The business’s fifty day simple moving average is $93.43 and its two-hundred day simple moving average is $93.11.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, May 29th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.27. The company had revenue of $617.00 million for the quarter, compared to analysts’ expectations of $604.33 million. Okta had a negative net margin of 11.69% and a negative return on equity of 3.81%. Analysts anticipate that Okta, Inc. will post -0.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

OKTA has been the topic of several analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 price target on shares of Okta in a research report on Monday, June 17th. Evercore ISI upgraded Okta from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $102.00 to $122.00 in a report on Thursday, May 30th. BMO Capital Markets decreased their price target on Okta from $110.00 to $100.00 and set a “market perform” rating for the company in a research note on Monday, June 3rd. Susquehanna dropped their price objective on Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. Finally, UBS Group cut their price objective on Okta from $130.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Nineteen equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $105.58.

Insider Buying and Selling at Okta

In other news, Director Jacques Frederic Kerrest sold 1,552 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $86.99, for a total transaction of $135,008.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 22,530 shares of company stock valued at $1,980,733 in the last three months. Corporate insiders own 7.00% of the company’s stock.

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.