Okta, Inc. (NASDAQ:OKTA) Insider Sells $1,317,967.68 in Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 11,552 shares of Okta stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total value of $1,317,967.68. Following the completion of the sale, the insider now owns 22,125 shares in the company, valued at approximately $2,524,241.25. This represents a 34.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Tuesday, February 11th, Larissa Schwartz sold 2,740 shares of Okta stock. The stock was sold at an average price of $97.59, for a total value of $267,396.60.
• 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 shares were sold at an average price of $80.50, for a total value of $217,672.00.

Okta Stock Performance

NASDAQ:OKTA traded up $0.94 during mid-day trading on Friday, hitting $113.74. 3,497,942 shares of the company traded hands, compared to its average volume of 2,365,859. The stock’s fifty day moving average price is $96.89 and its 200-day moving average price is $84.07. Okta, Inc. has a one year low of $70.56 and a one year high of $116.96. 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 firm has a market cap of $19.75 billion, a price-to-earnings ratio of -324.97, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09.

Analyst Ratings Changes

OKTA has been the topic of several research reports. Westpark Capital restated a “buy” rating and set a $140.00 price target on shares of Okta in a research report on Friday, February 28th. Guggenheim restated a “buy” rating and set a $130.00 price target on shares of Okta in a research report on Wednesday, December 4th. Mizuho upgraded Okta from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $110.00 to $127.00 in a research report on Tuesday, March 4th. Robert W. Baird lifted their price target on Okta from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Finally, Sanford C. Bernstein dropped their target price on Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, Okta currently has a consensus rating of “Moderate Buy” and an average target price of $115.29.

Institutional Trading of Okta

Several hedge funds have recently bought and sold shares of the stock. Frank Rimerman Advisors LLC boosted its stake in shares of Okta by 2.4% in the fourth quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock worth $352,000 after acquiring an additional 105 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Okta by 1.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 7,873 shares of the company’s stock worth $620,000 after acquiring an additional 136 shares during the period. Stephens Inc. AR boosted its stake in shares of Okta by 5.0% in the fourth quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock worth $260,000 after acquiring an additional 157 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in shares of Okta by 3.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,646 shares of the company’s stock worth $445,000 after acquiring an additional 171 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Okta by 2.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock worth $605,000 after acquiring an additional 180 shares during the period. 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.