Okta (NASDAQ:OKTA) Receives “Buy” Rating from Westpark Capital

Westpark Capital reiterated their buy rating on shares of Okta (NASDAQ:OKTA) in a research note released on Friday,Benzinga reports. They currently have a $140.00 price objective on the stock.

OKTA has been the subject of a number of other reports. Mizuho increased their price objective on Okta from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. JPMorgan Chase & Co. upgraded Okta from a “neutral” rating to an “overweight” rating and set a $100.00 price objective for the company in a report on Monday, December 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $101.00 price target on shares of Okta in a report on Wednesday, December 4th. Morgan Stanley upgraded Okta from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $92.00 to $97.00 in a report on Monday, December 2nd. Finally, Robert W. Baird increased their price target on Okta from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $105.67.

Okta Stock Up 1.5 %

NASDAQ OKTA opened at $90.49 on Friday. The business has a fifty day moving average price of $89.30 and a two-hundred day moving average price of $82.60. The stock has a market capitalization of $15.51 billion, a PE ratio of -258.54, a PEG ratio of 6.42 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta has a fifty-two week low of $70.56 and a fifty-two week high of $114.50.

Insider Activity at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 131,426 shares of Okta stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $80.68, for a total transaction of $10,603,449.68. Following the transaction, the director now owns 1,622 shares of the company’s stock, valued at $130,862.96. This trade represents a 98.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd Mckinnon sold 233,028 shares of Okta stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $82.31, for a total transaction of $19,180,534.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 980,908 shares of company stock valued at $85,025,665. 7.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Okta

Several large investors have recently modified their holdings of OKTA. Itau Unibanco Holding S.A. purchased a new stake in shares of Okta during the 3rd quarter worth approximately $25,000. Bank of Jackson Hole Trust bought a new position in Okta in the 4th quarter valued at $25,000. Blue Trust Inc. boosted its holdings in Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after purchasing an additional 191 shares during the period. Legacy Investment Solutions LLC bought a new stake in shares of Okta during the 3rd quarter worth $32,000. Finally, TD Private Client Wealth LLC lifted its holdings in shares of Okta by 3,507.7% during the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock worth $37,000 after acquiring an additional 456 shares during the last quarter. Hedge funds and other 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.