Okta (NASDAQ:OKTA) Price Target Cut to $92.00 by Analysts at Mizuho

Okta (NASDAQ:OKTA) had its target price lowered by Mizuho from $104.00 to $92.00 in a research report sent to investors on Thursday, Benzinga reports. Mizuho currently has a neutral rating on the stock.

OKTA has been the subject of several other research reports. Citigroup cut their target price on Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. Bank of America lowered shares of Okta from a “buy” rating to an “underperform” rating and cut their target price for the stock from $135.00 to $75.00 in a report on Thursday, August 29th. Guggenheim restated a “buy” rating and set a $130.00 price objective on shares of Okta in a report on Tuesday, June 25th. Westpark Capital reissued a “buy” rating and issued a $140.00 price objective on shares of Okta in a research report on Thursday, August 29th. Finally, Susquehanna reduced their target price on shares of Okta from $110.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $100.00.

Okta Trading Down 1.7 %

NASDAQ:OKTA opened at $74.45 on Thursday. The business has a fifty day moving average of $80.75 and a 200-day moving average of $89.49. Okta has a 1 year low of $65.04 and a 1 year high of $114.50. The stock has a market cap of $12.52 billion, a price-to-earnings ratio of -44.58, a PEG ratio of 26.91 and a beta of 1.02. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, August 28th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.29. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. The business had revenue of $646.00 million during the quarter, compared to the consensus estimate of $632.24 million. Equities analysts predict that Okta will post 0.12 earnings per share for the current year.

Insider Transactions at Okta

In related news, CRO Jonathan James Addison sold 9,850 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $77.63, for a total transaction of $764,655.50. Following the transaction, the executive now owns 14,601 shares of the company’s stock, valued at approximately $1,133,475.63. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CRO Jonathan James Addison sold 9,850 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $77.63, for a total value of $764,655.50. Following the transaction, the executive now owns 14,601 shares in the company, valued at approximately $1,133,475.63. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Todd Mckinnon sold 200,512 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $75.21, for a total value of $15,080,507.52. Following the transaction, the chief executive officer now owns 8,495 shares in the company, valued at $638,908.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 343,989 shares of company stock worth $27,806,184. 7.00% of the stock is currently owned by company insiders.

Institutional Trading of Okta

Several hedge funds have recently modified their holdings of the business. Blue Trust Inc. lifted its holdings in Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after purchasing an additional 191 shares in the last quarter. Aaron Wealth Advisors LLC grew its position in Okta by 19.0% in the third quarter. Aaron Wealth Advisors LLC now owns 3,419 shares of the company’s stock valued at $254,000 after acquiring an additional 547 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in shares of Okta by 4.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock valued at $306,000 after buying an additional 182 shares during the last quarter. SWS Partners boosted its stake in shares of Okta by 31.8% during the 3rd quarter. SWS Partners now owns 32,486 shares of the company’s stock valued at $2,415,000 after buying an additional 7,838 shares during the last quarter. Finally, Swedbank AB lifted its stake in Okta by 0.8% during the third quarter. Swedbank AB now owns 80,011 shares of the company’s stock worth $5,948,000 after purchasing an additional 609 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

About Okta

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.