Insider Selling: Okta, Inc. (NASDAQ:OKTA) Director Sells 390,000 Shares of Stock

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 390,000 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $87.09, for a total transaction of $33,965,100.00. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Jacques Frederic Kerrest also recently made the following trade(s):

• On Tuesday, January 21st, Jacques Frederic Kerrest sold 3,306 shares of Okta stock. The shares were sold at an average price of $88.85, for a total value of $293,738.10.
• On Monday, December 2nd, Jacques Frederic Kerrest sold 131,426 shares of Okta stock. The shares were sold at an average price of $80.68, for a total value of $10,603,449.68.

Okta Stock Performance

OKTA opened at $90.90 on Tuesday. The company’s 50 day moving average is $82.54 and its 200 day moving average is $82.07. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The company has a market cap of $15.58 billion, a price-to-earnings ratio of -259.71, a PEG ratio of 8.95 and a beta of 1.00. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $114.50.

Wall Street Analysts Forecast Growth

OKTA has been the subject of several recent research reports. Robert W. Baird raised their price objective on Okta from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Jefferies Financial Group lowered their price target 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. Truist Financial reaffirmed a “hold” rating and set a $92.00 target price (up previously from $80.00) on shares of Okta in a research note on Wednesday, December 4th. Barclays boosted their price target on Okta from $81.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Okta in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Okta presently has an average rating of “Hold” and an average target price of $104.55.

Institutional Investors Weigh In On Okta

A number of hedge funds have recently modified their holdings of OKTA. Point72 Asset Management L.P. bought a new position in Okta in the 3rd quarter worth $49,373,000. Nordea Investment Management AB increased its position in Okta by 1,150.2% in the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock worth $33,146,000 after buying an additional 382,190 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Okta by 232.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company’s stock worth $29,479,000 after buying an additional 277,084 shares during the period. Truist Financial Corp lifted its position in shares of Okta by 62.5% during the 2nd quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock valued at $48,870,000 after buying an additional 200,770 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Okta by 105.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock valued at $26,627,000 after acquiring an additional 184,107 shares during the period. 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.