Okta (NASDAQ:OKTA) Price Target Raised to $125.00 at KeyCorp

Okta (NASDAQ:OKTA) had its price objective lifted by KeyCorp from $115.00 to $125.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Okta from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Scotiabank reduced their price objective on shares of Okta from $96.00 to $94.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. BMO Capital Markets upped their price objective on shares of Okta from $103.00 to $105.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group increased their target price 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, JPMorgan Chase & Co. raised shares of Okta from a “neutral” rating to an “overweight” rating and set a $100.00 target price for the company in a research report on Monday, December 16th. One 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. According to data from MarketBeat, Okta currently has a consensus rating of “Hold” and an average price target of $105.45.

Okta Trading Up 2.0 %

Shares of OKTA stock opened at $100.26 on Tuesday. Okta has a 52-week low of $70.56 and a 52-week high of $114.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The company has a 50-day simple moving average of $87.19 and a two-hundred day simple moving average of $82.31. The company has a market capitalization of $17.18 billion, a price-to-earnings ratio of -286.46, a PEG ratio of 6.58 and a beta of 1.03.

Insiders Place Their Bets

In other Okta news, insider Larissa Schwartz sold 2,740 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $97.59, for a total value of $267,396.60. Following the sale, the insider now directly owns 22,125 shares in the company, valued at $2,159,178.75. This represents a 11.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jacques Frederic Kerrest sold 131,426 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now owns 1,622 shares in the company, valued at $130,862.96. This represents a 98.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 980,908 shares of company stock worth $85,025,665 in the last three months. 7.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Okta

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Frank Rimerman Advisors LLC raised its position in shares of Okta by 2.4% during the 4th quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock valued at $352,000 after buying an additional 105 shares in the last quarter. Stephens Inc. AR raised its position in shares of Okta by 5.0% during the 4th quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock valued at $260,000 after buying an additional 157 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised 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 valued at $605,000 after buying an additional 180 shares in the last quarter. Bleakley Financial Group LLC raised 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 valued at $306,000 after buying an additional 182 shares in the last quarter. Finally, Great Lakes Advisors LLC raised its position in shares of Okta by 2.7% during the 4th quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company’s stock valued at $557,000 after buying an additional 184 shares in the last quarter. 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.