Insider Selling: Okta, Inc. (NASDAQ:OKTA) Insider Sells 2,790 Shares of Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 2,790 shares of Okta stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.01, for a total transaction of $206,487.90. Following the transaction, the insider now directly owns 27,713 shares of the company’s stock, valued at $2,051,039.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Larissa Schwartz also recently made the following trade(s):

• On Tuesday, August 13th, Larissa Schwartz sold 2,795 shares of Okta stock. The stock was sold at an average price of $92.02, for a total transaction of $257,195.90.
• On Tuesday, July 16th, Larissa Schwartz sold 2,792 shares of Okta stock. The shares were sold at an average price of $99.40, for a total transaction of $277,524.80.

Okta Trading Up 0.2 %

Shares of OKTA traded up $0.18 during trading hours on Tuesday, hitting $74.21. 2,554,716 shares of the stock were exchanged, compared to its average volume of 1,937,211. Okta, Inc. has a fifty-two week low of $65.04 and a fifty-two week high of $114.50. The business has a 50-day moving average of $88.92 and a 200-day moving average of $94.45. The firm has a market capitalization of $12.48 billion, a P/E ratio of -44.44, a price-to-earnings-growth ratio of 40.71 and a beta of 1.02. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83.

Analyst Ratings Changes

A number of brokerages have recently weighed in on OKTA. Evercore ISI upgraded Okta from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $102.00 to $122.00 in a research note on Thursday, May 30th. Guggenheim reiterated a “buy” rating and set a $130.00 price target on shares of Okta in a research report on Tuesday, June 25th. Wedbush reaffirmed an “outperform” rating and issued a $130.00 price objective on shares of Okta in a research note on Wednesday, May 29th. Jefferies Financial Group lowered their target price on Okta from $110.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday, August 29th. Finally, Wells Fargo & Company reduced their price target on shares of Okta from $100.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Okta has an average rating of “Hold” and an average target price of $105.14.

Institutional Trading of Okta

Large investors have recently bought and sold shares of the business. American Trust boosted its holdings in shares of Okta by 118.7% during the 2nd quarter. American Trust now owns 7,122 shares of the company’s stock worth $667,000 after buying an additional 3,865 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Okta in the second quarter worth $460,000. Creekside Partners bought a new stake in Okta in the second quarter valued at $250,000. Truist Financial Corp raised its holdings in shares of Okta by 62.5% during the second quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock valued at $48,870,000 after purchasing an additional 200,770 shares during the period. Finally, Invst LLC bought a new position in shares of Okta during the 2nd quarter worth about $226,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

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.