Okta, Inc. (NASDAQ:OKTA) Insider Sells $670,556.25 in Stock

Okta, Inc. (NASDAQ:OKTA) insider Eric Robert Kelleher sold 5,895 shares of the 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 sale, the insider now directly owns 9,828 shares in the company, valued at $1,117,935. This trade represents a 37.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Okta Price Performance

OKTA stock opened at $112.92 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $116.96. The firm has a 50-day moving average of $95.78 and a 200 day moving average of $83.66. The company has a market cap of $19.60 billion, a P/E ratio of -322.63, a PEG ratio of 6.42 and a beta of 1.09.

Analyst Ratings Changes

A number of brokerages have recently issued reports on OKTA. Oppenheimer increased their price target on shares of Okta from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, March 4th. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 target price on shares of Okta in a research note on Tuesday, March 4th. Barclays boosted their price target 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. BTIG Research reaffirmed a “buy” rating on shares of Okta in a report on Tuesday, March 4th. Finally, Morgan Stanley set a $125.00 price objective on Okta in a research note on Tuesday. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $115.29.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in OKTA. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Okta by 52.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company’s stock valued at $956,000 after purchasing an additional 4,171 shares during the period. Fluent Financial LLC purchased a new stake in Okta in the fourth quarter worth $1,287,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Okta during the fourth quarter valued at $8,680,000. Forum Financial Management LP purchased a new position in Okta during the fourth quarter valued at $333,000. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in shares of Okta during the 4th quarter valued at $40,000. Hedge funds and other 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.