Okta, Inc. (NASDAQ:OKTA) Receives Average Rating of “Moderate Buy” from Analysts

Okta, Inc. (NASDAQ:OKTA) has been assigned a consensus recommendation of “Moderate Buy” from the thirty-six analysts that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $120.17.

OKTA has been the subject of a number of research reports. Jefferies Financial Group upped their target price on shares of Okta from $110.00 to $135.00 and gave the company a “hold” rating in a report on Friday. Morgan Stanley reduced their target price on shares of Okta from $125.00 to $123.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. UBS Group reaffirmed a “buy” rating and issued a $150.00 target price (up from $120.00) on shares of Okta in a report on Thursday. The Goldman Sachs Group upped their target price on shares of Okta from $107.00 to $123.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Finally, Canaccord Genuity Group increased their price target on shares of Okta from $94.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, March 4th.

Insider Activity

In related news, Director Jacques Frederic Kerrest sold 130,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $105.00, for a total transaction of $13,650,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Larissa Schwartz sold 11,552 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 22,125 shares in the company, valued at approximately $2,524,241.25. This trade represents a 34.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 154,452 shares of company stock worth $16,347,360 over the last ninety days. 5.68% of the stock is currently owned by insiders.

Institutional Trading of Okta

A number of hedge funds have recently bought and sold shares of OKTA. Bank of Jackson Hole Trust acquired a new position in shares of Okta in the 4th quarter valued at $25,000. Wolff Wiese Magana LLC raised its stake in shares of Okta by 167.4% in the 1st quarter. Wolff Wiese Magana LLC now owns 246 shares of the company’s stock valued at $26,000 after acquiring an additional 154 shares during the period. Wayfinding Financial LLC purchased a new position in shares of Okta in the 1st quarter valued at $27,000. Harbour Investments Inc. raised its stake in shares of Okta by 152.4% in the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock valued at $27,000 after acquiring an additional 157 shares during the period. Finally, Rossby Financial LCC purchased a new position in shares of Okta in the 1st quarter valued at $31,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Trading Down 0.2%

NASDAQ:OKTA opened at $123.72 on Monday. The stock’s 50 day moving average price is $109.45 and its 200 day moving average price is $95.62. Okta has a 52-week low of $70.56 and a 52-week high of $127.57. 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 company has a market capitalization of $21.48 billion, a PE ratio of -353.49, a P/E/G ratio of 6.42 and a beta of 0.96.

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.