Okta, Inc. (NASDAQ:OKTA) Director Sells $6,337,500.00 in Stock

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 65,000 shares of Okta stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $97.50, for a total value of $6,337,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Jacques Frederic Kerrest also recently made the following trade(s):

• On Tuesday, January 28th, Jacques Frederic Kerrest sold 130,000 shares of Okta stock. The shares were sold at an average price of $93.00, for a total value of $12,090,000.00.
• On Thursday, January 23rd, Jacques Frederic Kerrest sold 390,000 shares of Okta stock. The shares were sold at an average price of $87.09, for a total transaction of $33,965,100.00.
• On Tuesday, January 21st, Jacques Frederic Kerrest sold 3,306 shares of Okta stock. The stock was sold at an average price of $88.85, for a total transaction of $293,738.10.
• On Monday, December 2nd, Jacques Frederic Kerrest sold 131,426 shares of Okta stock. The shares were sold at an average price of $80.68, for a total transaction of $10,603,449.68.

Okta Stock Down 0.5 %

NASDAQ:OKTA opened at $97.00 on Monday. The firm has a market capitalization of $16.62 billion, a price-to-earnings ratio of -277.14, a price-to-earnings-growth ratio of 6.58 and a beta of 1.03. 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’s 50 day moving average price is $85.99 and its two-hundred day moving average price is $82.03.

Hedge Funds Weigh In On Okta

A number of institutional investors have recently added to or reduced their stakes in the company. Paloma Partners Management Co bought a new position in shares of Okta in the 3rd quarter valued at about $969,000. SG Americas Securities LLC grew its holdings in Okta by 122.3% during the third quarter. SG Americas Securities LLC now owns 17,021 shares of the company’s stock worth $1,265,000 after purchasing an additional 9,364 shares during the period. Stifel Financial Corp increased its position in Okta by 56.1% during the third quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock worth $2,770,000 after buying an additional 13,387 shares during the last quarter. Nordea Investment Management AB raised its stake in Okta by 1,150.2% in the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after buying an additional 382,190 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Okta by 105.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock valued at $26,627,000 after buying an additional 184,107 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on OKTA. Piper Sandler upped their target price on shares of Okta from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group increased their target price on Okta from $97.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Morgan Stanley upgraded Okta from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $92.00 to $97.00 in a research report on Monday, December 2nd. BTIG Research increased their price target on shares of Okta from $98.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, BMO Capital Markets lifted their price objective on shares of Okta from $103.00 to $105.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target 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.