Okta (NASDAQ:OKTA) Price Target Raised to $100.00

Okta (NASDAQ:OKTA) had its price objective hoisted by equities researchers at Citigroup from $95.00 to $100.00 in a report released on Friday. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price objective suggests a potential upside of 16.73% from the stock’s current price.

A number of other equities research analysts also recently weighed in on OKTA. Susquehanna lifted their target price on Okta from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. DA Davidson lifted their price objective on Okta from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Robert W. Baird upped their target price on Okta from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Needham & Company LLC lifted their price target on shares of Okta from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. raised shares of Okta from a “neutral” rating to an “overweight” rating and set a $100.00 price target on the stock in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Okta has an average rating of “Hold” and a consensus price target of $104.61.

Okta Price Performance

Shares of Okta stock opened at $85.67 on Friday. The firm has a fifty day moving average price of $80.84 and a two-hundred day moving average price of $82.53. Okta has a fifty-two week low of $70.56 and a fifty-two week high of $114.50. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market cap of $14.68 billion, a PE ratio of -244.77, a price-to-earnings-growth ratio of 8.52 and a beta of 1.00.

Insider Activity at Okta

In other Okta news, CEO Todd Mckinnon sold 233,028 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $82.31, for a total transaction of $19,180,534.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jacques Frederic Kerrest sold 131,426 shares of Okta stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $80.68, for a total transaction of $10,603,449.68. Following the sale, the director now owns 1,622 shares of the company’s stock, valued at approximately $130,862.96. This represents a 98.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 369,949 shares of company stock valued at $30,201,213 over the last quarter. Corporate insiders own 7.00% of the company’s stock.

Institutional Trading of Okta

A number of institutional investors have recently bought and sold shares of OKTA. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Okta by 2.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock valued at $605,000 after purchasing an additional 180 shares during the period. Bleakley Financial Group LLC lifted its stake in Okta by 4.6% in the third 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 period. Creative Financial Designs Inc. ADV boosted its holdings in Okta by 12.4% during the third quarter. Creative Financial Designs Inc. ADV now owns 1,704 shares of the company’s stock worth $127,000 after buying an additional 188 shares during the last quarter. 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 worth $28,000 after buying an additional 191 shares during the last quarter. Finally, CHICAGO TRUST Co NA grew its position in shares of Okta by 6.5% during the 4th quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company’s stock worth $246,000 after buying an additional 191 shares during the period. Institutional investors and hedge funds 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.