Okta, Inc. (NASDAQ:OKTA) CRO Jonathan James Addison Sells 7,005 Shares

Okta, Inc. (NASDAQ:OKTA) CRO Jonathan James Addison sold 7,005 shares of the company’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $101.19, for a total transaction of $708,835.95. Following the completion of the transaction, the executive now owns 19,067 shares of the company’s stock, valued at approximately $1,929,389.73. This trade represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Okta Price Performance

OKTA opened at $97.93 on Friday. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $118.07. 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 company has a market capitalization of $17.00 billion, a price-to-earnings ratio of -279.80, a P/E/G ratio of 6.42 and a beta of 1.07. The firm’s fifty day moving average price is $102.34 and its two-hundred day moving average price is $88.35.

Analysts Set New Price Targets

A number of analysts recently weighed in on OKTA shares. BMO Capital Markets increased their price objective on Okta from $105.00 to $130.00 and gave the company a “market perform” rating in a report on Monday, March 10th. Robert W. Baird increased their price target on Okta from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Jefferies Financial Group lifted their price objective on Okta from $90.00 to $110.00 and gave the stock a “hold” rating in a research note on Tuesday, March 4th. Stephens initiated coverage on shares of Okta in a research report on Tuesday, April 1st. They set an “equal weight” rating and a $127.00 target price for the company. Finally, Stifel Nicolaus boosted their price target on shares of Okta from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Okta presently has an average rating of “Moderate Buy” and a consensus target price of $116.03.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Jackson Hole Trust bought a new position in shares of Okta during the 4th quarter worth approximately $25,000. TD Private Client Wealth LLC increased its position in shares of Okta by 3,507.7% during the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock valued at $37,000 after acquiring an additional 456 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in Okta during the fourth quarter worth $40,000. Brown Brothers Harriman & Co. bought a new position in Okta in the 4th quarter valued at $43,000. Finally, Modus Advisors LLC purchased a new stake in shares of Okta during the 4th quarter valued at $44,000. 86.64% of the stock is currently owned by hedge funds and other 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.