Okta, Inc. (NASDAQ:OKTA) Insider Larissa Schwartz Sells 11,552 Shares

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 11,552 shares of the company’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 value of $1,317,967.68. Following the transaction, the insider now directly owns 22,125 shares in the company, valued at $2,524,241.25. The trade was a 34.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Larissa Schwartz also recently made the following trade(s):

• On Tuesday, February 11th, Larissa Schwartz sold 2,740 shares of Okta stock. The stock was sold at an average price of $97.59, for a total value of $267,396.60.
• On Wednesday, January 22nd, Larissa Schwartz sold 2,704 shares of Okta stock. The stock was sold at an average price of $89.58, for a total value of $242,224.32.
• On Monday, December 30th, Larissa Schwartz sold 2,704 shares of Okta stock. The stock was sold at an average price of $80.50, for a total value of $217,672.00.

Okta Price Performance

Shares of NASDAQ OKTA traded up $0.94 during trading hours on Friday, reaching $113.74. 3,497,942 shares of the stock traded hands, compared to its average volume of 2,365,859. 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’s 50-day simple moving average is $96.89 and its two-hundred day simple moving average is $84.07. The company has a market capitalization of $19.75 billion, a P/E ratio of -324.97, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $116.96.

Analysts Set New Price Targets

OKTA has been the subject of a number of analyst reports. Wells Fargo & Company increased their price target on Okta from $95.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Needham & Company LLC reissued a “buy” rating and issued a $115.00 price target on shares of Okta in a research report on Tuesday, March 4th. Scotiabank increased their price target on Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 4th. UBS Group set a $135.00 price target on Okta in a research report on Tuesday, March 4th. Finally, The Goldman Sachs Group increased their price target on Okta from $107.00 to $123.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $115.29.

Hedge Funds Weigh In On Okta

A number of large investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC increased its stake in Okta by 52.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company’s stock worth $956,000 after purchasing an additional 4,171 shares during the period. Fluent Financial LLC purchased a new position in Okta in the 4th quarter worth approximately $1,287,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Okta in the 4th quarter worth approximately $8,680,000. Forum Financial Management LP purchased a new position in Okta in the 4th quarter worth approximately $333,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in Okta in the 4th quarter worth approximately $40,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

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.