Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest Sells 130,000 Shares

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 130,000 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $93.00, for a total transaction of $12,090,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, January 23rd, Jacques Frederic Kerrest sold 390,000 shares of Okta stock. The shares were sold at an average price of $87.09, for a total value of $33,965,100.00.
• On Tuesday, January 21st, Jacques Frederic Kerrest sold 3,306 shares of Okta stock. The stock was 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 stock was sold at an average price of $80.68, for a total value of $10,603,449.68.

Okta Price Performance

Shares of Okta stock traded down $0.24 during trading hours on Thursday, reaching $93.76. The stock had a trading volume of 2,280,068 shares, compared to its average volume of 2,626,775. The stock’s 50 day moving average is $83.35 and its 200 day moving average is $82.15. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $114.50. The firm has a market capitalization of $16.07 billion, a PE ratio of -267.89, a PEG ratio of 8.95 and a beta of 1.00.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of OKTA. Itau Unibanco Holding S.A. acquired a new stake in shares of Okta in the third quarter valued at about $25,000. Future Financial Wealth Managment LLC purchased a new stake in Okta during the 3rd quarter valued at about $26,000. Blue Trust Inc. grew 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 acquired a new stake in Okta in the 3rd quarter valued at about $32,000. Finally, Modus Advisors LLC purchased a new position in Okta in the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Piper Sandler boosted their price target on Okta from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Barclays upped their target price on shares of Okta from $81.00 to $96.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. Needham & Company LLC lifted their price target on shares of Okta from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. raised shares of Okta from a “neutral” rating to an “overweight” rating and set a $100.00 price objective for the company in a research report on Monday, December 16th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Okta presently has a consensus rating of “Hold” and an average price target of $104.55.

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.