Okta (NASDAQ:OKTA) Now Covered by Analysts at Barclays

Barclays assumed coverage on shares of Okta (NASDAQ:OKTA) in a report published on Tuesday, Marketbeat reports. The firm issued an equal weight rating and a $81.00 price objective on the stock.

Other analysts have also recently issued research reports about the stock. UBS Group decreased their price target on shares of Okta from $120.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Westpark Capital reissued a “buy” rating and set a $140.00 price target on shares of Okta in a research note on Thursday, August 29th. Scotiabank decreased their price objective on Okta from $104.00 to $92.00 and set a “sector perform” rating on the stock in a report on Thursday, August 29th. Wells Fargo & Company cut their target price on shares of Okta from $90.00 to $80.00 and set an “equal weight” rating for the company in a report on Thursday, October 17th. Finally, Mizuho reduced their price target on shares of Okta from $104.00 to $92.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Okta has an average rating of “Hold” and an average price target of $98.30.

Okta Stock Performance

NASDAQ OKTA opened at $74.51 on Tuesday. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18. Okta has a twelve month low of $66.69 and a twelve month high of $114.50. The business has a 50-day moving average price of $74.62 and a 200-day moving average price of $85.81. The firm has a market cap of $12.66 billion, a price-to-earnings ratio of -88.70, a price-to-earnings-growth ratio of 18.03 and a beta of 1.02.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.29. The business had revenue of $646.00 million during the quarter, compared to the consensus estimate of $632.24 million. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. As a group, equities research analysts predict that Okta will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling at Okta

In related news, CRO Jonathan James Addison sold 9,850 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $77.63, for a total value of $764,655.50. Following the completion of the transaction, the executive now owns 14,601 shares of the company’s stock, valued at $1,133,475.63. The trade was a 40.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Larissa Schwartz sold 2,790 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.01, for a total value of $206,487.90. Following the sale, the insider now directly owns 27,713 shares in the company, valued at $2,051,039.13. This trade represents a 9.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 475,789 shares of company stock valued at $35,701,361 in the last ninety days. Corporate insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On Okta

A number of hedge funds have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. purchased a new stake in shares of Okta during the third quarter valued at about $25,000. Future Financial Wealth Managment LLC bought a new position in shares of Okta during the 3rd quarter worth approximately $26,000. Blue Trust Inc. raised its stake in shares of Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after acquiring an additional 191 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in Okta during the third quarter valued at approximately $32,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Okta by 71.4% in the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after purchasing an additional 142 shares during the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

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.