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Jefferies Financial Group Lowers Okta (NASDAQ:OKTA) Price Target to $90.00

Okta logo with Computer and Technology background

Okta (NASDAQ:OKTA - Free Report) had its target price decreased by Jefferies Financial Group from $100.00 to $90.00 in a report released on Thursday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

Other equities analysts have also recently issued reports about the company. UBS Group decreased their price objective on Okta from $120.00 to $108.00 and set a "buy" rating on the stock in a report on Thursday, August 29th. Sanford C. Bernstein lowered their price objective on shares of Okta from $129.00 to $124.00 and set an "outperform" rating for the company in a report on Tuesday. BMO Capital Markets increased their target price on shares of Okta from $103.00 to $105.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Susquehanna boosted their price target on shares of Okta from $85.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group increased their price objective on Okta from $97.00 to $107.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $104.45.

Check Out Our Latest Stock Analysis on Okta

Okta Price Performance

NASDAQ:OKTA traded up $0.28 during midday trading on Thursday, hitting $81.69. The company had a trading volume of 3,262,364 shares, compared to its average volume of 2,169,796. The company has a market capitalization of $14.00 billion, a PE ratio of -233.40, a P/E/G ratio of 8.61 and a beta of 1.00. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta has a 52-week low of $70.56 and a 52-week high of $114.50. The stock's fifty day moving average price is $77.44 and its 200-day moving average price is $83.37.

Insider Activity at Okta

In other Okta news, CEO Todd Mckinnon sold 224,533 shares of Okta stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $74.62, for a total value of $16,754,652.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Larissa Schwartz sold 2,791 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $71.50, for a total value of $199,556.50. Following the transaction, the insider now directly owns 22,125 shares in the company, valued at $1,581,937.50. The trade was a 11.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 604,425 shares of company stock valued at $46,098,322. 7.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Okta

Hedge funds and other institutional investors have recently modified their holdings of the stock. Itau Unibanco Holding S.A. bought a new position in shares of Okta during the 3rd quarter valued at approximately $25,000. Future Financial Wealth Managment LLC purchased a new position in Okta during the third quarter valued at approximately $26,000. Blue Trust Inc. boosted its position in shares of Okta by 105.5% in the third quarter. Blue Trust Inc. now owns 372 shares of the company's stock worth $28,000 after purchasing an additional 191 shares during the period. Legacy Investment Solutions LLC purchased a new stake in shares of Okta in the third quarter worth $32,000. Finally, First Command Advisory Services Inc. bought a new stake in shares of Okta during the 2nd quarter valued at $47,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Company Profile

(Get Free Report)

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.

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