Okta, Inc. (NASDAQ:OKTA) Given Consensus Rating of “Hold” by Brokerages

Okta, Inc. (NASDAQ:OKTA) has earned an average recommendation of “Hold” from the thirty-two research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $105.45.

A number of research analysts have weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $101.00 price objective on shares of Okta in a research report on Wednesday, December 4th. Sanford C. Bernstein reduced their price objective on Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a report on Tuesday, December 17th. JPMorgan Chase & Co. upgraded shares of Okta from a “neutral” rating to an “overweight” rating and set a $100.00 price target for the company in a report on Monday, December 16th. The Goldman Sachs Group boosted their price target on Okta from $97.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Scotiabank decreased their target price on shares of Okta from $96.00 to $94.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st.

Insider Buying and Selling at Okta

In related news, CFO Brett Tighe sold 5,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 112,533 shares in the company, valued at $10,015,437. The trade was a 4.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jacques Frederic Kerrest sold 131,426 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $80.68, for a total value of $10,603,449.68. Following the sale, the director now directly owns 1,622 shares of the company’s stock, valued at approximately $130,862.96. This represents a 98.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 978,168 shares of company stock worth $84,758,269. 7.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Okta

Institutional investors have recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new stake in Okta during the third quarter worth approximately $25,000. Bank of Jackson Hole Trust acquired a new stake in Okta during the fourth quarter worth $25,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Okta during the 3rd quarter valued at about $26,000. Blue Trust Inc. boosted its holdings in Okta by 105.5% during the third 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. Finally, Legacy Investment Solutions LLC acquired a new stake in Okta in the 3rd quarter valued at $32,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Okta Trading Up 2.6 %

Shares of Okta stock opened at $98.26 on Friday. The firm has a market cap of $16.84 billion, a price-to-earnings ratio of -280.74, a PEG ratio of 6.58 and a beta of 1.03. The business has a 50-day moving average price of $86.85 and a 200-day moving average price of $82.19. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta has a twelve month low of $70.56 and a twelve month high of $114.50.

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.