Okta, Inc. (NASDAQ:OKTA) CRO Jonathan James Addison Sells 7,005 Shares

Okta, Inc. (NASDAQ:OKTA - Get Free Report) CRO Jonathan James Addison sold 7,005 shares of Okta stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $101.19, for a total transaction of $708,835.95. Following the sale, the executive now owns 19,067 shares of the company's stock, valued at approximately $1,929,389.73. The trade was a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Okta Stock Down 2.0 %

Shares of OKTA stock traded down $2.04 during mid-day trading on Friday, hitting $97.93. The company's stock had a trading volume of 1,898,455 shares, compared to its average volume of 2,560,182. 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 $118.07. The stock has a market cap of $17.00 billion, a price-to-earnings ratio of -279.80, a PEG ratio of 6.42 and a beta of 1.07. The business has a 50-day moving average price of $102.38 and a 200 day moving average price of $88.64.

Hedge Funds Weigh In On Okta

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Stifel Financial Corp lifted its position in Okta by 56.1% during the third quarter. Stifel Financial Corp now owns 37,258 shares of the company's stock valued at $2,770,000 after purchasing an additional 13,387 shares during the period. MML Investors Services LLC raised its stake in Okta by 43.2% during the 3rd quarter. MML Investors Services LLC now owns 33,333 shares of the company's stock valued at $2,478,000 after buying an additional 10,048 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Okta during the 3rd quarter valued at $2,436,000. Sanctuary Advisors LLC boosted its stake in shares of Okta by 125.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 11,244 shares of the company's stock worth $861,000 after buying an additional 6,265 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Okta during the third quarter valued at $108,000. Institutional investors own 86.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on OKTA. Wells Fargo & Company increased their price objective on Okta from $95.00 to $100.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. upped their price objective on shares of Okta from $100.00 to $105.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Royal Bank of Canada raised their target price on Okta from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 4th. BMO Capital Markets upped their price target on Okta from $105.00 to $130.00 and gave the company a "market perform" rating in a research report on Monday, March 10th. Finally, Morgan Stanley cut their price objective on Okta from $125.00 to $123.00 and set an "overweight" rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $116.03.

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.