Jacques Frederic Kerrest Sells 3,306 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 3,306 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $88.85, for a total transaction of $293,738.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Jacques Frederic Kerrest also recently made the following trade(s):

• On Monday, December 2nd, Jacques Frederic Kerrest sold 131,426 shares of Okta stock. The shares were sold at an average price of $80.68, for a total value of $10,603,449.68.

Okta Stock Down 0.6 %

OKTA stock traded down $0.55 on Thursday, hitting $88.07. 1,913,748 shares of the company’s stock were exchanged, compared to its average volume of 2,582,623. 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 quick ratio of 1.34 and a current ratio of 1.34. The stock has a market cap of $15.09 billion, a P/E ratio of -251.63, a price-to-earnings-growth ratio of 9.03 and a beta of 1.00. The firm has a 50 day moving average price of $81.65 and a two-hundred day moving average price of $82.27.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Piper Sandler lifted their price target on shares of Okta from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Robert W. Baird raised their price objective on Okta from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. upgraded Okta from a “neutral” rating to an “overweight” rating and set a $100.00 target price on the stock in a report on Monday, December 16th. Susquehanna raised their price target on shares of Okta from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Truist Financial restated a “hold” rating and issued a $92.00 price target (up from $80.00) on shares of Okta in a report on Wednesday, December 4th. One 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 company’s stock. According to MarketBeat, Okta currently has a consensus rating of “Hold” and an average target price of $104.55.

Institutional Trading of Okta

Institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. acquired a new stake in shares of Okta in the third quarter valued at about $49,373,000. Nordea Investment Management AB lifted its stake in Okta by 1,150.2% in the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after buying an additional 382,190 shares in the last quarter. Eminence Capital LP boosted its holdings in Okta by 18.1% in the 2nd quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock worth $186,225,000 after buying an additional 305,381 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Okta by 232.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company’s stock worth $29,479,000 after buying an additional 277,084 shares in the last quarter. Finally, Truist Financial Corp raised its holdings in shares of Okta by 62.5% during the second quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock valued at $48,870,000 after acquiring an additional 200,770 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

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.