Analysts Set Okta, Inc. (NASDAQ:OKTA) Price Target at $104.45

Shares of Okta, Inc. (NASDAQ:OKTA) have received a consensus recommendation of “Hold” from the thirty-two research firms that are presently covering the company, MarketBeat.com reports. One 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 company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $104.61.

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Okta from a “buy” rating to a “hold” rating and dropped their target price for the stock from $115.00 to $85.00 in a report on Tuesday, November 12th. Scotiabank raised their target price on shares of Okta from $92.00 to $96.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 4th. Barclays lifted their price objective on shares of Okta from $81.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. Morgan Stanley raised shares of Okta from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $92.00 to $97.00 in a research report on Monday, December 2nd. Finally, Jefferies Financial Group reduced their target price on shares of Okta from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday, December 19th.

Insider Transactions at Okta

In related news, Director Jacques Frederic Kerrest sold 131,426 shares of Okta 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 sale, the director now owns 1,622 shares of the company’s stock, valued at approximately $130,862.96. This trade represents a 98.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction on Monday, December 30th. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00. Following the completion of the sale, the insider now directly owns 24,462 shares of the company’s stock, valued at approximately $1,969,191. The trade was a 9.95 % 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 in the last quarter. 7.00% of the stock is currently owned by company insiders.

Institutional Trading of Okta

Hedge funds have recently bought and sold shares of the business. Itau Unibanco Holding S.A. acquired a new stake in Okta in the 3rd quarter valued at $25,000. Future Financial Wealth Managment LLC bought a new position in Okta during the 3rd quarter valued at $26,000. Blue Trust Inc. lifted its stake in Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after acquiring an additional 191 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in Okta during the 3rd quarter valued at $32,000. Finally, Modus Advisors LLC bought a new position in Okta during the 4th quarter valued at $44,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Up 1.9 %

Okta stock opened at $87.29 on Tuesday. The company’s 50 day simple moving average is $81.23 and its 200 day simple moving average is $82.28. Okta has a fifty-two week low of $70.56 and a fifty-two week high of $114.50. The firm has a market capitalization of $14.96 billion, a price-to-earnings ratio of -249.40, a PEG ratio of 8.52 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.

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.