Okta, Inc. (NASDAQ:OKTA) Receives $104.45 Average PT from Analysts

Okta, Inc. (NASDAQ:OKTA) has received a consensus rating of “Hold” from the thirty-two analysts that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and sixteen have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $104.61.

A number of equities research analysts have recently issued reports on OKTA shares. Royal Bank of Canada restated an “outperform” rating and set a $101.00 price target on shares of Okta in a report on Wednesday, December 4th. BMO Capital Markets boosted their price target 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. Canaccord Genuity Group boosted their price target on shares of Okta from $82.00 to $94.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Guggenheim restated a “buy” rating and set a $130.00 price target on shares of Okta in a report on Wednesday, December 4th. Finally, Stifel Nicolaus boosted their price target on shares of Okta from $108.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, December 4th.

Okta Stock Up 1.9 %

NASDAQ OKTA opened at $87.29 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The company’s 50 day simple moving average is $81.23 and its 200 day simple moving average is $82.28. Okta has a 12 month low of $70.56 and a 12 month high of $114.50. The company has a market capitalization of $14.96 billion, a P/E ratio of -249.40, a PEG ratio of 8.52 and a beta of 1.00.

Insider Buying and Selling at Okta

In other news, insider Larissa Schwartz sold 2,791 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $71.50, for a total value of $199,556.50. Following the completion of the transaction, the insider now owns 22,125 shares in the company, valued at approximately $1,581,937.50. This represents a 11.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jacques Frederic Kerrest sold 131,426 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.68, for a total transaction of $10,603,449.68. Following the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 369,949 shares of company stock valued at $30,201,213 in the last ninety days. Company 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 company. Wealth Enhancement Advisory Services LLC increased its position in shares of Okta by 2.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock worth $605,000 after purchasing an additional 180 shares in the last quarter. Bleakley Financial Group LLC increased its position in shares of Okta by 4.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock worth $306,000 after purchasing an additional 182 shares in the last quarter. Creative Financial Designs Inc. ADV increased its position in shares of Okta by 12.4% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,704 shares of the company’s stock worth $127,000 after purchasing an additional 188 shares in the last quarter. Blue Trust Inc. increased 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 worth $28,000 after purchasing an additional 191 shares in the last quarter. Finally, CHICAGO TRUST Co NA increased its position in shares of Okta by 6.5% during the 4th quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company’s stock worth $246,000 after purchasing an additional 191 shares in the last quarter. Institutional investors and hedge funds 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.