Okta, Inc. (NASDAQ:OKTA) CFO Sells $445,000.00 in Stock

Okta, Inc. (NASDAQ:OKTA) CFO Brett Tighe sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total transaction of $445,000.00. Following the transaction, the chief financial officer now owns 112,533 shares of the company’s stock, valued at approximately $10,015,437. This represents a 4.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Okta Trading Up 0.9 %

Shares of NASDAQ OKTA opened at $88.86 on Friday. The company’s fifty day moving average is $82.18 and its 200-day moving average is $82.16. The stock has a market cap of $15.23 billion, a price-to-earnings ratio of -253.89, a P/E/G ratio of 8.95 and a beta of 1.00. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $114.50. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Institutional Investors Weigh In On Okta

Several institutional investors have recently added to or reduced their stakes in OKTA. Point72 Asset Management L.P. bought a new stake in Okta in the 3rd quarter valued at $49,373,000. Nordea Investment Management AB lifted its position in Okta by 1,150.2% in the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after acquiring an additional 382,190 shares in the last quarter. Eminence Capital LP lifted its position in Okta by 18.1% in the 2nd quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock valued at $186,225,000 after acquiring an additional 305,381 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Okta by 232.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company’s stock valued at $29,479,000 after buying an additional 277,084 shares during the last quarter. Finally, Truist Financial Corp increased its stake in Okta by 62.5% in the 2nd quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock valued at $48,870,000 after buying an additional 200,770 shares during the last quarter. 86.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on OKTA shares. Canaccord Genuity Group raised their price objective on shares of Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Truist Financial reaffirmed a “hold” rating and set a $92.00 price objective (up previously from $80.00) on shares of Okta in a report on Wednesday, December 4th. JMP Securities reaffirmed a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. DA Davidson raised their price objective on shares of Okta from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Mizuho dropped their price objective on shares of Okta from $104.00 to $92.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Okta has a consensus rating of “Hold” and a consensus target price of $104.55.

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.