Okta (NASDAQ:OKTA) Price Target Raised to $105.00 at Barclays

Okta (NASDAQ:OKTA) had its price objective hoisted by Barclays from $96.00 to $105.00 in a research report sent to investors on Thursday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other research firms have also issued reports on OKTA. BTIG Research upped their target price on Okta from $98.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Susquehanna upped their price objective on Okta from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Morgan Stanley upgraded Okta from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $92.00 to $97.00 in a research note on Monday, December 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $101.00 price objective on shares of Okta in a research note on Wednesday, December 4th. Finally, Canaccord Genuity Group upped their price objective on Okta from $82.00 to $94.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $106.13.

Okta Stock Performance

OKTA opened at $92.75 on Thursday. Okta has a 52-week low of $70.56 and a 52-week high of $114.50. The firm has a market capitalization of $15.89 billion, a PE ratio of -265.00, a PEG ratio of 6.42 and a beta of 1.03. 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 business’s 50-day simple moving average is $88.64 and its 200 day simple moving average is $82.53.

Insider Buying and Selling at Okta

In other news, CEO Todd Mckinnon sold 233,028 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $82.31, for a total value of $19,180,534.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jacques Frederic Kerrest sold 131,426 shares of the 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 completion of the transaction, the director now owns 1,622 shares of the company’s stock, valued at $130,862.96. The trade was a 98.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 980,908 shares of company stock valued at $85,025,665. 7.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Bank of Jackson Hole Trust bought a new position in Okta during the 4th quarter worth $25,000. Itau Unibanco Holding S.A. bought a new position in Okta during the 3rd quarter worth $25,000. Blue Trust Inc. raised its position in Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after purchasing an additional 191 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in Okta during the 3rd quarter worth $32,000. Finally, TD Private Client Wealth LLC raised its position in Okta by 3,507.7% during the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock worth $37,000 after purchasing an additional 456 shares during the last quarter. 86.64% of the stock is owned by institutional investors.

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.