Insider Selling: Okta, Inc. (NASDAQ:OKTA) Insider Sells $267,396.60 in Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 2,740 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $97.59, for a total value of $267,396.60. Following the sale, the insider now owns 22,125 shares in the company, valued at $2,159,178.75. The trade was a 11.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Larissa Schwartz also recently made the following trade(s):

• On Wednesday, January 22nd, Larissa Schwartz sold 2,704 shares of Okta stock. The stock was sold at an average price of $89.58, for a total value of $242,224.32.
• On Monday, December 30th, Larissa Schwartz sold 2,704 shares of Okta stock. The stock was sold at an average price of $80.50, for a total value of $217,672.00.

Okta Stock Down 4.0 %

OKTA stock opened at $96.29 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average price of $87.42 and a two-hundred day moving average price of $82.26. The company has a market cap of $16.50 billion, a price-to-earnings ratio of -275.11, a P/E/G ratio of 6.58 and a beta of 1.03. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $114.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OKTA. Sanctuary Advisors LLC bought a new position in shares of Okta during the 2nd quarter worth approximately $460,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Okta by 333.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,300 shares of the company’s stock worth $97,000 after acquiring an additional 1,000 shares during the period. Creative Planning boosted its stake in shares of Okta by 661.0% during the 3rd quarter. Creative Planning now owns 86,681 shares of the company’s stock worth $6,444,000 after acquiring an additional 75,290 shares during the period. NBC Securities Inc. boosted its stake in shares of Okta by 1,379.5% during the 3rd quarter. NBC Securities Inc. now owns 2,885 shares of the company’s stock worth $214,000 after acquiring an additional 2,690 shares during the period. Finally, Swedbank AB boosted its stake in shares of Okta by 0.8% during the 3rd quarter. Swedbank AB now owns 80,011 shares of the company’s stock worth $5,948,000 after acquiring an additional 609 shares during the period. 86.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

OKTA has been the topic of several recent research reports. Jefferies Financial Group decreased their price target on Okta from $100.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday, December 19th. The Goldman Sachs Group raised their target price on Okta from $97.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Truist Financial restated a “hold” rating and set a $92.00 target price (up previously from $80.00) on shares of Okta in a report on Wednesday, December 4th. BMO Capital Markets raised their target price on Okta from $103.00 to $105.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $101.00 target price on shares of Okta in a report on Wednesday, December 4th. 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. Based on data from MarketBeat.com, Okta currently has a consensus rating of “Hold” and an average price target of $105.45.

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.