Brett Tighe Sells 5,000 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) CFO Brett Tighe sold 5,000 shares of Okta stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $94.56, for a total value of $472,800.00. Following the transaction, the chief financial officer now owns 102,533 shares of the company’s stock, valued at $9,695,520.48. This trade represents a 4.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Brett Tighe also recently made the following trade(s):

• On Thursday, January 23rd, Brett Tighe sold 5,000 shares of Okta stock. The stock was sold at an average price of $87.29, for a total value of $436,450.00.
• On Tuesday, January 21st, Brett Tighe sold 5,000 shares of Okta stock. The stock was sold at an average price of $89.00, for a total transaction of $445,000.00.

Okta Stock Performance

OKTA traded down $0.24 during trading hours on Thursday, hitting $93.76. 2,280,068 shares of the stock were exchanged, compared to its average volume of 2,626,775. The stock has a market cap of $16.07 billion, a price-to-earnings ratio of -267.89, a price-to-earnings-growth ratio of 8.95 and a beta of 1.00. The stock has a 50-day simple moving average of $83.35 and a 200-day simple moving average of $82.15. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $114.50. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.

Analysts Set New Price Targets

Several research analysts have recently commented on OKTA shares. Guggenheim reissued a “buy” rating and set a $130.00 price objective on shares of Okta in a report on Wednesday, December 4th. The Goldman Sachs Group raised their price objective on shares of Okta from $97.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Canaccord Genuity Group lifted their price objective on Okta from $82.00 to $94.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. KeyCorp raised Okta from a “sector weight” rating to an “overweight” rating and set a $115.00 target price for the company in a research report on Thursday, December 19th. Finally, Sanford C. Bernstein lowered their target price on Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $104.55.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. acquired a new position in shares of Okta in the 3rd quarter worth $25,000. Future Financial Wealth Managment LLC purchased a new stake in Okta in the 3rd quarter worth about $26,000. Blue Trust Inc. boosted its position in Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after acquiring an additional 191 shares during the period. Legacy Investment Solutions LLC purchased a new position in Okta during the 3rd quarter valued at about $32,000. Finally, Modus Advisors LLC acquired a new position in shares of Okta in the 4th quarter valued at about $44,000. 86.64% of the stock is currently 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.