Okta (NASDAQ:OKTA) Rating Increased to Strong-Buy at Stephens

Okta (NASDAQ:OKTA) was upgraded by Stephens to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Several other research analysts also recently commented on the stock. UBS Group set a $135.00 price target on shares of Okta in a research note on Tuesday, March 4th. Susquehanna boosted their price target on shares of Okta from $95.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Truist Financial upped their price target on shares of Okta from $92.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, March 4th. JMP Securities reiterated a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. Finally, Robert W. Baird increased their target price on Okta from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $116.09.

Okta Stock Down 0.5 %

OKTA opened at $104.69 on Monday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The business’s fifty day simple moving average is $101.00 and its 200 day simple moving average is $86.31. Okta has a 52 week low of $70.56 and a 52 week high of $118.07. The stock has a market cap of $18.17 billion, a PE ratio of -299.11, a P/E/G ratio of 6.42 and a beta of 1.09.

Insider Buying and Selling

In other news, insider Larissa Schwartz sold 11,552 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the transaction, the insider now directly owns 22,125 shares of the company’s stock, valued at $2,524,241.25. This represents a 34.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jacques Frederic Kerrest sold 3,306 shares of Okta stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $88.85, for a total value of $293,738.10. The disclosure for this sale can be found here. Insiders have sold a total of 761,197 shares of company stock worth $70,662,533 in the last quarter. Corporate insiders own 7.00% of the company’s stock.

Institutional Trading of Okta

A number of institutional investors have recently made changes to their positions in OKTA. Bank of Jackson Hole Trust bought a new position in Okta during the fourth quarter valued at approximately $25,000. Itau Unibanco Holding S.A. purchased a new stake in Okta during the 3rd quarter valued at $25,000. Legacy Investment Solutions LLC bought a new position in shares of Okta during the 3rd quarter valued at $32,000. TD Private Client Wealth LLC boosted its stake in shares of Okta by 3,507.7% in the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock worth $37,000 after buying an additional 456 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in shares of Okta in the fourth quarter worth $40,000. 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.