Okta, Inc. (NASDAQ:OKTA) Director Sells $6,337,500.00 in Stock

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 65,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $97.50, for a total value of $6,337,500.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Tuesday, January 28th, Jacques Frederic Kerrest sold 130,000 shares of Okta stock. The stock was sold at an average price of $93.00, for a total value of $12,090,000.00.
• 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 shares were sold at an average price of $88.85, for a total transaction 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 Trading Down 0.5 %

Shares of Okta stock traded down $0.47 during trading hours on Friday, hitting $97.00. The company’s stock had a trading volume of 1,974,338 shares, compared to its average volume of 2,536,202. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $114.50. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market capitalization of $16.62 billion, a PE ratio of -277.14, a price-to-earnings-growth ratio of 9.52 and a beta of 1.03. The stock has a 50 day moving average of $85.60 and a 200 day moving average of $82.19.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on OKTA shares. Barclays raised their price objective on shares of Okta from $81.00 to $96.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. Citigroup lifted their price objective on Okta from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Mizuho decreased their target price on Okta from $104.00 to $92.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. Morgan Stanley raised Okta from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $92.00 to $97.00 in a report on Monday, December 2nd. Finally, Susquehanna increased their price objective on shares of Okta from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $104.55.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Point72 Asset Management L.P. acquired a new stake in shares of Okta in the third quarter valued at approximately $49,373,000. Nordea Investment Management AB grew 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 valued at $33,146,000 after purchasing an additional 382,190 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Okta by 138.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company’s stock valued at $43,721,000 after buying an additional 322,201 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Okta by 232.0% during the 3rd 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 in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted 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 worth $26,627,000 after buying an additional 184,107 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

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.