Okta, Inc. (NASDAQ:OKTA) Insider Sells $670,556.25 in Stock

Okta, Inc. (NASDAQ:OKTA) insider Eric Robert Kelleher sold 5,895 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $113.75, for a total transaction of $670,556.25. Following the completion of the transaction, the insider now directly owns 9,828 shares of the company’s stock, valued at $1,117,935. This trade represents a 37.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Okta Trading Down 1.1 %

Okta stock opened at $112.80 on Friday. The stock has a 50-day simple moving average of $96.89 and a 200 day simple moving average of $84.07. The stock has a market capitalization of $19.58 billion, a P/E ratio of -322.29, a PEG ratio of 6.42 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $116.96.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Jefferies Financial Group boosted their target price on Okta from $90.00 to $110.00 and gave the company a “hold” rating in a research note on Tuesday, March 4th. The Goldman Sachs Group boosted their price objective on Okta from $107.00 to $123.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Susquehanna raised their target price on shares of Okta from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Stifel Nicolaus lifted their price target on shares of Okta from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Finally, UBS Group set a $135.00 price objective on shares of Okta in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $115.29.

Institutional Trading of Okta

A number of hedge funds have recently made changes to their positions in the business. Marshall Wace LLP increased its holdings in shares of Okta by 35.5% during 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. Norges Bank bought a new position in Okta during the fourth quarter worth $234,992,000. Geode Capital Management LLC increased its holdings in shares of Okta by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 2,700,216 shares of the company’s stock valued at $212,385,000 after purchasing an additional 135,110 shares during the last quarter. Point72 Asset Management L.P. raised its position in shares of Okta by 236.8% in the fourth quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company’s stock valued at $176,271,000 after purchasing an additional 1,572,786 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of Okta by 2,135.7% during the 4th quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company’s stock worth $150,845,000 after buying an additional 1,828,630 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

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.