Brokerages Set Okta, Inc. (NASDAQ:OKTA) PT at $115.29

Okta, Inc. (NASDAQ:OKTA) has received an average recommendation of “Moderate Buy” from the thirty-four analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation, nineteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $116.09.

Several research analysts have issued reports on OKTA shares. Royal Bank of Canada increased their price objective on Okta from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 4th. KeyCorp lifted their price target on shares of Okta from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. Canaccord Genuity Group boosted their price target on shares of Okta from $94.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, March 4th. The Goldman Sachs Group raised their price objective on shares of Okta from $107.00 to $123.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Finally, Barclays boosted their target price on Okta from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th.

Okta Trading Down 8.3 %

OKTA stock opened at $91.93 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The firm has a market cap of $15.96 billion, a P/E ratio of -262.66, a P/E/G ratio of 6.42 and a beta of 1.06. Okta has a 1-year low of $70.56 and a 1-year high of $118.07. The business’s 50 day moving average is $101.64 and its 200-day moving average is $86.75.

Insider Buying and Selling at Okta

In other news, insider Larissa Schwartz sold 11,552 shares of Okta stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the transaction, the insider now owns 22,125 shares in the company, valued at $2,524,241.25. The trade was a 34.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eric Robert Kelleher sold 5,895 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $113.75, for a total value of $670,556.25. Following the completion of the transaction, the insider now owns 9,828 shares of the company’s stock, valued at $1,117,935. This represents a 37.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 761,197 shares of company stock valued at $70,662,533. Company insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On Okta

Institutional investors have recently added to or reduced their stakes in the stock. Bank of Jackson Hole Trust bought a new stake in shares of Okta in the fourth quarter valued at about $25,000. Itau Unibanco Holding S.A. bought a new stake in Okta in the 3rd quarter valued at approximately $25,000. Legacy Investment Solutions LLC acquired a new position in Okta during the 3rd quarter worth approximately $32,000. TD Private Client Wealth LLC grew its stake in shares of Okta by 3,507.7% during the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock worth $37,000 after acquiring an additional 456 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Okta in the fourth quarter valued at approximately $40,000. 86.64% of the stock is owned by institutional investors.

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.