Okta (NASDAQ:OKTA) Price Target Raised to $125.00

Okta (NASDAQ:OKTA) had its price objective hoisted by KeyCorp from $115.00 to $125.00 in a report issued on Tuesday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

OKTA has been the subject of several other reports. Citigroup raised their price objective on shares of Okta from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Friday, January 17th. Scotiabank cut their price objective on shares of Okta from $96.00 to $94.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. BMO Capital Markets raised their price objective on shares of Okta from $103.00 to $105.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. upgraded shares of Okta from a “neutral” rating to an “overweight” rating and set a $100.00 price objective for the company in a research report on Monday, December 16th. Finally, Canaccord Genuity Group raised their price objective on shares of Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $105.45.

Okta Trading Up 2.0 %

Shares of OKTA stock opened at $100.26 on Tuesday. The firm has a 50 day moving average price of $87.19 and a two-hundred day moving average price of $82.31. 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 $17.18 billion, a PE ratio of -286.46, a price-to-earnings-growth ratio of 6.58 and a beta of 1.03. Okta has a 12-month low of $70.56 and a 12-month high of $114.50.

Insiders Place Their Bets

In other news, Director Jacques Frederic Kerrest sold 390,000 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $87.09, for a total transaction of $33,965,100.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Larissa Schwartz sold 2,740 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $97.59, for a total transaction of $267,396.60. Following the transaction, the insider now owns 22,125 shares in the company, valued at $2,159,178.75. This represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 980,908 shares of company stock valued at $85,025,665. 7.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Okta

Institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Okta in the 4th quarter worth about $234,992,000. Marshall Wace LLP raised its holdings in shares of Okta by 35.5% in the 4th quarter. Marshall Wace LLP now owns 3,583,937 shares of the company’s stock worth $282,414,000 after acquiring an additional 938,509 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Okta by 570.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 869,362 shares of the company’s stock worth $68,506,000 after acquiring an additional 739,707 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Okta in the 3rd quarter worth about $49,373,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Okta by 54.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,241,220 shares of the company’s stock worth $97,808,000 after acquiring an additional 440,171 shares during the last quarter. Institutional investors and hedge funds 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.