Okta (NASDAQ:OKTA) Price Target Raised to $125.00 at KeyCorp

Okta (NASDAQ:OKTA) had its target price hoisted by KeyCorp from $115.00 to $125.00 in a report issued on Tuesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

OKTA has been the topic of a number of other research reports. Westpark Capital restated a “buy” rating and set a $140.00 price target on shares of Okta in a research report on Wednesday, December 4th. Sanford C. Bernstein lowered their price target on Okta from $129.00 to $124.00 and set an “outperform” rating for the company in a research report on Tuesday, December 17th. Royal Bank of Canada restated an “outperform” rating and issued a $101.00 price target on shares of Okta in a research note on Wednesday, December 4th. Scotiabank cut their price target on Okta from $96.00 to $94.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. Finally, Truist Financial reiterated a “hold” rating and set a $92.00 target price (up from $80.00) on shares of Okta in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $104.87.

Okta Price Performance

NASDAQ:OKTA opened at $95.78 on Tuesday. The firm has a market capitalization of $16.41 billion, a price-to-earnings ratio of -273.66, a P/E/G ratio of 6.58 and a beta of 1.03. Okta has a 52-week low of $70.56 and a 52-week high of $114.50. The stock has a fifty day moving average of $86.61 and a 200 day moving average of $82.08. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

Insider Buying and Selling at Okta

In other news, CEO Todd Mckinnon sold 233,028 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $82.31, for a total transaction of $19,180,534.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jacques Frederic Kerrest sold 65,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $97.50, for a total value of $6,337,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 978,168 shares of company stock valued at $84,758,269 over the last ninety days. 7.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. bought a new stake in Okta in the third quarter worth about $25,000. Bank of Jackson Hole Trust bought a new stake in Okta in the fourth quarter worth about $25,000. Blue Trust Inc. lifted its stake in Okta by 105.5% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after purchasing an additional 191 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Okta during the third quarter valued at approximately $32,000. Finally, TD Private Client Wealth LLC raised its stake in shares of Okta by 3,507.7% during the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock valued at $37,000 after acquiring an additional 456 shares in the last quarter. Hedge funds and other institutional investors own 86.64% 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.