Okta (NASDAQ:OKTA) Price Target Raised to $105.00

Okta (NASDAQ:OKTA) had its price objective lifted by Susquehanna from $95.00 to $105.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts have also commented on OKTA. Mizuho raised Okta from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $110.00 to $127.00 in a research note on Tuesday. Stifel Nicolaus boosted their price objective on Okta from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. JMP Securities reissued a “market perform” rating on shares of Okta in a research note on Wednesday, December 4th. Canaccord Genuity Group increased their target price on shares of Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, BMO Capital Markets boosted their price target on Okta from $103.00 to $105.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, Okta presently has a consensus rating of “Moderate Buy” and an average target price of $113.10.

Okta Stock Down 4.4 %

OKTA opened at $111.22 on Tuesday. The company has a market capitalization of $19.06 billion, a P/E ratio of -317.77, a P/E/G ratio of 6.42 and a beta of 1.09. The firm’s fifty day moving average price is $90.54 and its two-hundred day moving average price is $82.70. Okta has a fifty-two week low of $70.56 and a fifty-two week high of $116.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.

Insider Buying and Selling

In related news, CEO Todd Mckinnon sold 233,028 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $82.31, for a total value of $19,180,534.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jacques Frederic Kerrest sold 390,000 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $87.09, for a total transaction of $33,965,100.00. The disclosure for this sale can be found here. Insiders sold 979,482 shares of company stock valued at $88,072,216 over the last quarter. 7.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Fluent Financial LLC bought a new position in shares of Okta during the 4th quarter worth about $1,287,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Okta during the fourth quarter worth $8,680,000. Forum Financial Management LP purchased a new stake in Okta during the fourth quarter worth about $333,000. University of Texas Texas AM Investment Management Co. bought a new position in Okta during the fourth quarter valued at $40,000. Finally, PharVision Advisers LLC bought a new position in Okta during the fourth quarter worth about $299,000. 86.64% of the stock is owned by institutional investors.

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.