Eric Robert Kelleher Sells 5,895 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) insider Eric Robert Kelleher sold 5,895 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $113.75, for a total value of $670,556.25. Following the transaction, the insider now owns 9,828 shares in the company, valued at approximately $1,117,935. This represents a 37.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Okta Stock Up 1.0 %

OKTA opened at $114.08 on Thursday. The stock’s 50 day moving average price is $96.35 and its 200 day moving average price is $83.87. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market cap of $19.80 billion, a P/E ratio of -325.94, a P/E/G ratio of 6.42 and a beta of 1.09. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $116.96.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Metis Global Partners LLC increased its stake in Okta by 7.1% during the 3rd quarter. Metis Global Partners LLC now owns 3,181 shares of the company’s stock valued at $236,000 after buying an additional 212 shares during the period. CIBC Asset Management Inc increased its stake in shares of Okta by 5.4% during the third quarter. CIBC Asset Management Inc now owns 5,650 shares of the company’s stock valued at $420,000 after acquiring an additional 288 shares during the period. Empowered Funds LLC raised its holdings in Okta by 5.4% during the third quarter. Empowered Funds LLC now owns 5,718 shares of the company’s stock worth $425,000 after purchasing an additional 295 shares in the last quarter. Swiss National Bank lifted its position in Okta by 0.8% in the third quarter. Swiss National Bank now owns 477,700 shares of the company’s stock worth $35,512,000 after purchasing an additional 3,600 shares during the period. Finally, Quest Partners LLC boosted its stake in Okta by 346.2% during the 3rd quarter. Quest Partners LLC now owns 7,134 shares of the company’s stock valued at $530,000 after purchasing an additional 5,535 shares in the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on OKTA shares. Morgan Stanley set a $125.00 price target on Okta in a report on Tuesday. Truist Financial upped their target price on shares of Okta from $92.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, March 4th. DA Davidson raised shares of Okta from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $90.00 to $125.00 in a research note on Tuesday, March 4th. Barclays upped their price objective on shares of Okta from $105.00 to $115.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Finally, Robert W. Baird lifted their target price on Okta from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Okta currently has a consensus rating of “Moderate Buy” and an average price target of $115.29.

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.