Okta (NASDAQ:OKTA - Free Report) had its price objective raised by KeyCorp from $115.00 to $125.00 in a report released on Tuesday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.
A number of other brokerages have also weighed in on OKTA. Jefferies Financial Group reduced their price objective on shares of Okta from $100.00 to $90.00 and set a "hold" rating on the stock in a report on Thursday, December 19th. Piper Sandler raised their price objective on shares of Okta from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Wednesday, December 4th. Stifel Nicolaus raised their price objective on shares of Okta from $108.00 to $115.00 and gave the company a "buy" rating in a 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 target on the stock in a research note on Monday, December 16th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $101.00 price target on shares of Okta in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $105.45.
Read Our Latest Analysis on OKTA
Okta Stock Down 4.0 %
Shares of OKTA traded down $3.97 during midday trading on Tuesday, reaching $96.29. The stock had a trading volume of 2,954,818 shares, compared to its average volume of 2,366,723. Okta has a 1-year low of $70.56 and a 1-year high of $114.50. The company's fifty day simple moving average is $87.42 and its two-hundred day simple moving average is $82.26. The company has a market cap of $16.50 billion, a price-to-earnings ratio of -275.11, a PEG ratio of 6.58 and a beta of 1.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.
Insider Activity
In other news, CEO Todd Mckinnon sold 233,028 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $82.31, for a total value of $19,180,534.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jacques Frederic Kerrest sold 131,426 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $80.68, for a total transaction of $10,603,449.68. Following the completion of the sale, the director now owns 1,622 shares in the company, valued at $130,862.96. This represents a 98.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 980,908 shares of company stock worth $85,025,665 over the last ninety days. 7.00% of the stock is currently owned by insiders.
Institutional Trading of Okta
Hedge funds have recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in Okta during the third quarter worth approximately $25,000. Bank of Jackson Hole Trust acquired a new position in shares of Okta in the 4th quarter valued at $25,000. Blue Trust Inc. boosted its holdings in shares of Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company's stock valued at $28,000 after purchasing an additional 191 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of Okta in the 3rd quarter valued at $32,000. Finally, TD Private Client Wealth LLC boosted its holdings in shares of Okta by 3,507.7% in the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock valued at $37,000 after purchasing an additional 456 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.
About Okta
(
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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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