Okta, Inc. (NASDAQ:OKTA) Receives Average Recommendation of “Hold” from Analysts

Shares of Okta, Inc. (NASDAQ:OKTA) have been given an average recommendation of “Hold” by the thirty-two ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $104.45.

A number of equities research analysts have issued reports on OKTA shares. Barclays boosted their price target on Okta from $81.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 4th. Needham & Company LLC lifted their target price on shares of Okta from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Wells Fargo & Company increased their price target on Okta from $80.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Susquehanna boosted their price objective on Okta from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Finally, JMP Securities reiterated a “market perform” rating on shares of Okta in a research note on Wednesday, December 4th.

Okta Trading Down 0.2 %

Shares of OKTA stock opened at $83.02 on Friday. 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 firm has a market cap of $14.23 billion, a P/E ratio of -237.20, a PEG ratio of 8.61 and a beta of 1.00. Okta has a 1-year low of $70.56 and a 1-year high of $114.50. The firm’s 50-day simple moving average is $78.16 and its 200-day simple moving average is $83.20.

Insider Activity

In other news, insider Larissa Schwartz sold 2,791 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $71.50, for a total transaction of $199,556.50. Following the transaction, the insider now owns 22,125 shares in the company, valued at approximately $1,581,937.50. This trade represents a 11.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd Mckinnon sold 233,028 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $82.31, for a total transaction of $19,180,534.68. The disclosure for this sale can be found here. Insiders have sold 604,425 shares of company stock worth $47,719,980 in the last 90 days. Company insiders own 7.00% of the company’s stock.

Institutional Trading of Okta

Several hedge funds have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. acquired a new stake in shares of Okta in the third quarter worth $25,000. Future Financial Wealth Managment LLC acquired a new stake in Okta in the 3rd quarter worth $26,000. Blue Trust Inc. increased its holdings in shares of Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after purchasing an additional 191 shares during the period. Legacy Investment Solutions LLC acquired a new position in Okta in the 3rd quarter valued at approximately $32,000. Finally, First Command Advisory Services Inc. acquired a new position in shares of Okta in the 2nd quarter valued at $47,000. Institutional investors own 86.64% of the company’s stock.

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.