Jacques Frederic Kerrest Sells 390,000 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 390,000 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $87.09, for a total transaction of $33,965,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 stock was sold at an average price of $80.68, for a total transaction of $10,603,449.68.

Okta Trading Up 4.4 %

Shares of NASDAQ OKTA opened at $94.93 on Wednesday. The stock has a market cap of $16.27 billion, a P/E ratio of -271.23, a price-to-earnings-growth ratio of 8.95 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $114.50. The firm has a 50-day moving average of $82.95 and a 200 day moving average of $82.06.

Hedge Funds Weigh In On Okta

Large investors have recently made changes to their positions in the business. Paloma Partners Management Co bought a new position in Okta during the 3rd quarter valued at approximately $969,000. SG Americas Securities LLC grew its stake in shares of Okta by 122.3% in the third quarter. SG Americas Securities LLC now owns 17,021 shares of the company’s stock worth $1,265,000 after acquiring an additional 9,364 shares during the last quarter. Truist Financial Corp increased its holdings in shares of Okta by 62.5% during the second quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock valued at $48,870,000 after acquiring an additional 200,770 shares in the last quarter. Stifel Financial Corp raised its position in shares of Okta by 56.1% in the 3rd quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock worth $2,770,000 after purchasing an additional 13,387 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in Okta by 1,150.2% in the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock worth $33,146,000 after purchasing an additional 382,190 shares in the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on OKTA. Needham & Company LLC lifted their price target on Okta from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Citigroup upped their target price on Okta from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Royal Bank of Canada reissued an “outperform” rating and set a $101.00 price target on shares of Okta in a research note on Wednesday, December 4th. Westpark Capital restated a “buy” rating and issued a $140.00 price objective on shares of Okta in a report on Wednesday, December 4th. Finally, Piper Sandler increased their target price on shares of Okta from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $104.55.

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.