Okta (NASDAQ:OKTA) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Okta (NASDAQ:OKTA) had its target price raised by research analysts at JPMorgan Chase & Co. from $100.00 to $105.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 16.54% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. BTIG Research increased their target price on Okta from $98.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Robert W. Baird lifted their price target on Okta from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Canaccord Genuity Group boosted their target price on shares of Okta from $82.00 to $94.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. KeyCorp raised their price target on shares of Okta from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Finally, JMP Securities reiterated a “market perform” rating on shares of Okta in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $106.29.

Okta Trading Up 1.0 %

Shares of OKTA stock traded up $0.91 during trading hours on Friday, hitting $90.10. 845,901 shares of the company were exchanged, compared to its average volume of 2,369,781. The firm has a market cap of $15.44 billion, a P/E ratio of -257.39, a P/E/G ratio of 6.42 and a beta of 1.03. Okta has a fifty-two week low of $70.56 and a fifty-two week high of $114.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The company has a 50 day simple moving average of $89.16 and a two-hundred day simple moving average of $82.61.

Insider Transactions at Okta

In other Okta news, CFO Brett Tighe sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total value of $445,000.00. Following the sale, the chief financial officer now owns 112,533 shares in the company, valued at approximately $10,015,437. This represents a 4.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Larissa Schwartz sold 2,704 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $80.50, for a total value of $217,672.00. Following the transaction, the insider now directly owns 24,462 shares of the company’s stock, valued at approximately $1,969,191. This trade represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 980,908 shares of company stock valued at $85,025,665. Corporate insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On Okta

A number of institutional investors have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Okta during the 4th quarter valued at about $8,680,000. Forum Financial Management LP bought a new position in shares of Okta in the fourth quarter worth approximately $333,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Okta during the fourth quarter valued at approximately $40,000. PharVision Advisers LLC bought a new stake in shares of Okta during the fourth quarter valued at approximately $299,000. Finally, Woodline Partners LP purchased a new position in Okta in the 4th quarter worth approximately $2,199,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

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.