Okta (NASDAQ:OKTA) Stock Unloaded Sen.

Senator (R-Florida) recently sold shares of Okta, Inc. (NASDAQ:OKTA). In a filing disclosed on February 21st, the Senator disclosed that they had sold between $50,001 and $100,000 in Okta stock on January 21st.

Senator also recently made the following trade(s):

• Purchased $50,001 – $100,000 in shares of Howmet Aerospace (NYSE:HWM) on 1/22/2025.
• Purchased $100,001 – $250,000 in shares of Applied Materials (NASDAQ:AMAT) on 1/22/2025.
• Purchased $50,001 – $100,000 in shares of Micron Technology (NASDAQ:MU) on 1/22/2025.

Okta Trading Down 2.6 %

Okta stock opened at $92.75 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $88.64 and a two-hundred day moving average price of $82.53. The firm has a market capitalization of $15.89 billion, a price-to-earnings ratio of -265.00, a PEG ratio of 6.42 and a beta of 1.03. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $114.50.

Insider Activity at Okta

In other Okta news, insider Larissa Schwartz sold 2,740 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $97.59, for a total value of $267,396.60. Following the completion of the sale, the insider now directly owns 22,125 shares of the company’s stock, valued at $2,159,178.75. The trade was a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Todd Mckinnon sold 233,028 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $82.31, for a total transaction of $19,180,534.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 980,908 shares of company stock valued at $85,025,665. Corporate insiders own 7.00% of the company’s stock.

Analysts Set New Price Targets

OKTA has been the subject of a number of analyst reports. Scotiabank reduced 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 note on Tuesday, January 21st. Truist Financial reissued a “hold” rating and set a $92.00 target price (up from $80.00) on shares of Okta in a research note on Wednesday, December 4th. Stifel Nicolaus boosted their price target on shares of Okta from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. DA Davidson boosted their price target on shares of Okta from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. upgraded shares of Okta from a “neutral” rating to an “overweight” rating and set a $100.00 price target on the stock in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $106.13.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP grew its position in Okta by 35.5% during the fourth quarter. Marshall Wace LLP now owns 3,583,937 shares of the company’s stock valued at $282,414,000 after purchasing an additional 938,509 shares in the last quarter. Norges Bank purchased a new position in Okta during the fourth quarter valued at approximately $234,992,000. Geode Capital Management LLC grew its position in Okta by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 2,700,216 shares of the company’s stock valued at $212,385,000 after purchasing an additional 135,110 shares in the last quarter. Point72 Asset Management L.P. grew its position in Okta by 236.8% during the fourth quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company’s stock valued at $176,271,000 after purchasing an additional 1,572,786 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Okta by 2,135.7% during the fourth quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company’s stock valued at $150,845,000 after purchasing an additional 1,828,630 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

About Senator

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.