JPMorgan Chase & Co. Increases Okta (NASDAQ:OKTA) Price Target to $105.00

Okta (NASDAQ:OKTA) had its price target raised by analysts at JPMorgan Chase & Co. from $100.00 to $105.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 16.03% from the stock’s previous close.

A number of other research firms have also recently weighed in on OKTA. Scotiabank lowered their price target on Okta from $96.00 to $94.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. Stifel Nicolaus lifted their price target on shares of Okta from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Mizuho upped their price objective on shares of Okta from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Citigroup lifted their target price on shares of Okta from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, January 17th. Finally, BMO Capital Markets upped their price target on Okta from $103.00 to $105.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Okta has a consensus rating of “Hold” and a consensus price target of $105.67.

Okta Trading Up 1.5 %

OKTA opened at $90.49 on Friday. The business’s 50 day moving average price is $89.30 and its 200 day moving average price is $82.53. 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 stock has a market capitalization of $15.51 billion, a PE ratio of -258.54, a P/E/G ratio of 6.42 and a beta of 1.03. Okta has a one year low of $70.56 and a one year high of $114.50.

Insider Buying and Selling

In related news, CEO Todd Mckinnon sold 233,028 shares of Okta stock in a transaction on Friday, December 20th. The shares were sold at an average price of $82.31, for a total transaction of $19,180,534.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Larissa Schwartz sold 2,740 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $97.59, for a total transaction of $267,396.60. Following the completion of the transaction, the insider now owns 22,125 shares of the company’s stock, valued at $2,159,178.75. This represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 980,908 shares of company stock worth $85,025,665 over the last 90 days. 7.00% of the stock is owned by insiders.

Institutional Trading of Okta

Institutional investors and hedge funds have recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in Okta during the 3rd quarter worth approximately $25,000. Bank of Jackson Hole Trust acquired a new stake in shares of Okta in the fourth quarter valued at approximately $25,000. Blue Trust Inc. grew its position in shares of Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after acquiring an additional 191 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of Okta in the 3rd quarter valued at $32,000. Finally, TD Private Client Wealth LLC raised its position in Okta by 3,507.7% in the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock valued at $37,000 after purchasing an additional 456 shares during the last quarter. 86.64% of the stock is owned by hedge funds and other 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.