Okta, Inc. (NASDAQ:OKTA) Director Sells $293,738.10 in Stock

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 3,306 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $88.85, for a total transaction of $293,738.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Jacques Frederic Kerrest also recently made the following trade(s):

• On Monday, December 2nd, Jacques Frederic Kerrest sold 131,426 shares of Okta stock. The stock was sold at an average price of $80.68, for a total transaction of $10,603,449.68.

Okta Price Performance

Shares of OKTA stock traded down $0.55 during mid-day trading on Thursday, reaching $88.07. The stock had a trading volume of 1,913,748 shares, compared to its average volume of 2,582,623. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $114.50. The company has a market cap of $15.09 billion, a P/E ratio of -251.63, a price-to-earnings-growth ratio of 9.03 and a beta of 1.00. The business has a 50-day simple moving average of $81.65 and a 200 day simple moving average of $82.27.

Institutional Trading of Okta

Several institutional investors and hedge funds have recently made changes to their positions in OKTA. Dimensional Fund Advisors LP boosted its holdings in shares of Okta by 20.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,029,753 shares of the company’s stock valued at $96,388,000 after purchasing an additional 178,011 shares during the last quarter. Amalgamated Bank boosted its stake in Okta by 5.2% in the second quarter. Amalgamated Bank now owns 9,351 shares of the company’s stock valued at $875,000 after acquiring an additional 461 shares during the period. Intech Investment Management LLC boosted its holdings in shares of Okta by 36.4% during the second quarter. Intech Investment Management LLC now owns 15,116 shares of the company’s stock valued at $1,415,000 after acquiring an additional 4,031 shares during the period. Canada Pension Plan Investment Board grew its holdings in Okta by 639.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 56,200 shares of the company’s stock worth $5,261,000 after buying an additional 48,600 shares in the last quarter. Finally, Pacer Advisors Inc. grew its position in Okta by 900.4% in the 2nd quarter. Pacer Advisors Inc. now owns 32,452 shares of the company’s stock valued at $3,038,000 after buying an additional 29,208 shares in the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on OKTA shares. Deutsche Bank Aktiengesellschaft lowered Okta from a “buy” rating to a “hold” rating and reduced their target price for the company from $115.00 to $85.00 in a research report on Tuesday, November 12th. Robert W. Baird boosted their target price on shares of Okta from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Susquehanna raised their target price on shares of Okta from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Truist Financial reaffirmed a “hold” rating and set a $92.00 price target (up previously from $80.00) on shares of Okta in a research report on Wednesday, December 4th. Finally, Sanford C. Bernstein decreased their price target on Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Okta has a consensus rating of “Hold” and a consensus target price of $104.55.

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.