Okta, Inc. (NASDAQ:OKTA) Director Sells $12,090,000.00 in Stock

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 130,000 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $93.00, for a total value of $12,090,000.00. The sale was disclosed in a filing with the SEC, which is available at this link.

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

• On Thursday, January 23rd, Jacques Frederic Kerrest sold 390,000 shares of Okta stock. The shares were sold at an average price of $87.09, for a total value of $33,965,100.00.
• On Tuesday, January 21st, Jacques Frederic Kerrest sold 3,306 shares of Okta stock. The stock was sold at an average price of $88.85, for a total value of $293,738.10.
• 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 value of $10,603,449.68.

Okta Price Performance

Shares of NASDAQ:OKTA opened at $93.76 on Friday. The firm’s 50-day moving average is $83.72 and its two-hundred day moving average is $82.23. 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 1 year low of $70.56 and a 1 year high of $114.50.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Citigroup lifted their target price on shares of Okta from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. The Goldman Sachs Group upped their target price on Okta from $97.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Mizuho dropped their target price on Okta from $104.00 to $92.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. JMP Securities restated a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. Finally, Needham & Company LLC upped their price target on Okta from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Okta currently has a consensus rating of “Hold” and a consensus target price of $104.55.

Institutional Investors Weigh In On Okta

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OKTA. Thrivent Financial for Lutherans purchased a new stake in shares of Okta in the second quarter valued at $1,758,000. Mackenzie Financial Corp grew its stake in shares of Okta by 19.7% during the second quarter. Mackenzie Financial Corp now owns 17,919 shares of the company’s stock valued at $1,677,000 after purchasing an additional 2,953 shares during the last quarter. Truist Financial Corp lifted its stake in shares of Okta by 62.5% in the 2nd quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock valued at $48,870,000 after purchasing an additional 200,770 shares during the period. Creekside Partners acquired a new stake in shares of Okta in the 2nd quarter valued at approximately $250,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Okta in the second quarter valued at about $460,000. Hedge funds and other institutional investors 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.