Okta, Inc. (NASDAQ:OKTA) CFO Brett Tighe Sells 5,000 Shares

Okta, Inc. (NASDAQ:OKTA) CFO Brett Tighe sold 5,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total transaction of $445,000.00. Following the completion of the sale, the chief financial officer now owns 112,533 shares of the company’s stock, valued at approximately $10,015,437. This trade represents a 4.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Okta Stock Down 0.6 %

OKTA opened at $88.07 on Friday. The firm has a market capitalization 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. Okta, Inc. has a one year low of $70.56 and a one year high of $114.50. The company has a fifty day moving average price of $81.88 and a 200-day moving average price of $82.31. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.

Institutional Investors Weigh In On Okta

Large investors have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. bought a new position in Okta in the 3rd quarter worth about $25,000. Future Financial Wealth Managment LLC purchased a new position in shares of Okta during the third quarter worth about $26,000. Blue Trust Inc. increased its position in shares of Okta by 105.5% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after purchasing an additional 191 shares during the last quarter. Legacy Investment Solutions LLC purchased a new stake in Okta in the third quarter valued at approximately $32,000. Finally, Modus Advisors LLC bought a new stake in Okta during the fourth quarter valued at approximately $44,000. Institutional investors own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on OKTA shares. Citigroup upped their target price on Okta from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, January 17th. JPMorgan Chase & Co. upgraded Okta from a “neutral” rating to an “overweight” rating and set a $100.00 price objective for the company in a research note on Monday, December 16th. Royal Bank of Canada reiterated an “outperform” rating and set a $101.00 target price on shares of Okta in a research note on Wednesday, December 4th. Canaccord Genuity Group increased their price target on shares of Okta from $82.00 to $94.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $92.00 price objective (up previously from $80.00) on shares of Okta in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $104.55.

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.