Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest Sells 130,000 Shares

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 130,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $105.00, for a total transaction of $13,650,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, February 5th, Jacques Frederic Kerrest sold 65,000 shares of Okta stock. The shares were sold at an average price of $97.50, for a total transaction of $6,337,500.00.
• On Tuesday, January 28th, Jacques Frederic Kerrest sold 130,000 shares of Okta stock. The stock was sold at an average price of $93.00, for a total transaction of $12,090,000.00.
• On Thursday, January 23rd, Jacques Frederic Kerrest sold 390,000 shares of Okta stock. The stock was sold at an average price of $87.09, for a total transaction of $33,965,100.00.
• On Tuesday, January 21st, Jacques Frederic Kerrest sold 3,306 shares of Okta stock. The shares were sold at an average price of $88.85, for a total transaction of $293,738.10.

Okta Stock Up 1.1 %

Shares of OKTA opened at $112.44 on Friday. The stock has a market capitalization of $19.27 billion, a PE ratio of -321.26, a P/E/G ratio of 6.42 and a beta of 1.09. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $116.96. 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’s 50-day simple moving average is $91.10 and its 200-day simple moving average is $82.90.

Institutional Trading of Okta

Large investors have recently made changes to their positions in the company. Paloma Partners Management Co purchased a new stake in shares of Okta during the third quarter worth approximately $969,000. SBI Securities Co. Ltd. acquired a new stake in Okta during the fourth quarter worth approximately $1,686,000. Stifel Financial Corp raised its holdings in Okta by 56.1% during the third 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 in the last quarter. Nordea Investment Management AB raised its holdings in Okta by 1,150.2% during the fourth 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. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Okta by 105.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock worth $26,627,000 after purchasing an additional 184,107 shares in the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OKTA has been the subject of a number of research reports. DA Davidson raised shares of Okta from a “neutral” rating to a “buy” rating and upped their target price for the company from $90.00 to $125.00 in a report on Tuesday. Barclays raised their target price on shares of Okta from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Tuesday. Stifel Nicolaus increased their price objective on shares of Okta from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lowered shares of Okta from a “buy” rating to a “hold” rating and lowered their price objective for the company from $115.00 to $85.00 in a research report on Tuesday, November 12th. Finally, Canaccord Genuity Group raised their target price on shares of Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $113.10.

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.