Insider Selling: Okta, Inc. (NASDAQ:OKTA) Insider Sells 2,704 Shares of Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 2,704 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $80.50, for a total transaction of $217,672.00. Following the completion of the sale, the insider now directly owns 24,462 shares of the company’s stock, valued at approximately $1,969,191. This represents a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Monday, November 4th, Larissa Schwartz sold 2,791 shares of Okta stock. The stock was sold at an average price of $71.50, for a total transaction of $199,556.50.
• On Monday, October 14th, Larissa Schwartz sold 2,797 shares of Okta stock. The shares were sold at an average price of $77.63, for a total value of $217,131.11.

Okta Stock Performance

Shares of OKTA opened at $80.76 on Friday. The firm has a market capitalization of $13.84 billion, a P/E ratio of -230.74, a PEG ratio of 8.61 and a beta of 1.00. 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, Inc. has a one year low of $70.56 and a one year high of $114.50. The business has a fifty day moving average of $78.94 and a 200 day moving average of $82.81.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Truist Financial restated a “hold” rating and issued a $92.00 target price (up previously from $80.00) on shares of Okta in a research note on Wednesday, December 4th. Barclays boosted their target price on shares of Okta from $81.00 to $96.00 and gave the company an “equal weight” rating in a report on Wednesday, December 4th. Westpark Capital reissued a “buy” rating and set a $140.00 price target on shares of Okta in a research report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft cut shares of Okta from a “buy” rating to a “hold” rating and cut their price objective for the stock from $115.00 to $85.00 in a report on Tuesday, November 12th. Finally, BMO Capital Markets lifted their target price on shares of Okta from $103.00 to $105.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Okta presently has a consensus rating of “Hold” and a consensus price target of $104.45.

Institutional Investors Weigh In On Okta

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Itau Unibanco Holding S.A. purchased a new position in shares of Okta in the third quarter worth approximately $25,000. Future Financial Wealth Managment LLC purchased a new position in shares of Okta during the 3rd quarter worth $26,000. Blue Trust Inc. grew its position in shares of Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after acquiring an additional 191 shares during the period. Legacy Investment Solutions LLC purchased a new stake in shares of Okta in the 3rd quarter worth $32,000. Finally, Modus Advisors LLC bought a new position in Okta in the 4th quarter worth $44,000. Hedge funds and other 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.