Okta, Inc. (NASDAQ:OKTA) Insider Eric Robert Kelleher Sells 5,895 Shares

Okta, Inc. (NASDAQ:OKTA) insider Eric Robert Kelleher sold 5,895 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $113.75, for a total value of $670,556.25. Following the completion of the sale, the insider now directly owns 9,828 shares in the company, valued at approximately $1,117,935. This represents a 37.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Okta Trading Down 2.4 %

Shares of OKTA stock traded down $2.72 during mid-day trading on Tuesday, hitting $112.92. The company’s stock had a trading volume of 2,042,511 shares, compared to its average volume of 2,344,861. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $116.96. The company has a market cap of $19.35 billion, a PE ratio of -322.63, a P/E/G ratio of 6.42 and a beta of 1.09. The company’s fifty day simple moving average is $95.21 and its 200-day simple moving average is $83.42. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on OKTA shares. Scotiabank raised their price objective on Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a report on Tuesday, March 4th. The Goldman Sachs Group raised their price objective on Okta from $107.00 to $123.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. JMP Securities reissued a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. BMO Capital Markets raised their price objective on Okta from $105.00 to $130.00 and gave the company a “market perform” rating in a report on Monday, March 10th. Finally, Mizuho raised Okta from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $110.00 to $127.00 in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Okta has an average rating of “Moderate Buy” and an average target price of $115.29.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP increased its holdings in shares of 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 acquiring an additional 938,509 shares in the last quarter. Norges Bank acquired a new stake in Okta in the 4th quarter valued at $234,992,000. Geode Capital Management LLC increased its stake in Okta by 5.3% during the 4th 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. raised its holdings 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 worth $176,271,000 after buying an additional 1,572,786 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Okta by 2,135.7% in the fourth quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company’s stock valued at $150,845,000 after buying an additional 1,828,630 shares in the last quarter. Institutional investors 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.