Okta, Inc. (NASDAQ:OKTA) Given Average Rating of "Hold" by Brokerages

Okta, Inc. (NASDAQ:OKTA - Get Free Report) has received a consensus recommendation of "Hold" from the thirty analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seventeen have assigned a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $98.96.

A number of equities analysts have recently commented on the company. Truist Financial lowered their price objective on Okta from $95.00 to $80.00 and set a "hold" rating for the company in a research report on Thursday, October 17th. JPMorgan Chase & Co. dropped their price objective on shares of Okta from $110.00 to $105.00 and set a "neutral" rating on the stock in a research report on Thursday, August 29th. Wells Fargo & Company decreased their price objective on shares of Okta from $90.00 to $80.00 and set an "equal weight" rating for the company in a research report on Thursday, October 17th. Susquehanna lowered their price objective on Okta from $110.00 to $85.00 and set a "neutral" rating for the company in a research report on Thursday, September 5th. Finally, DA Davidson dropped their target price on shares of Okta from $85.00 to $75.00 and set a "neutral" rating on the stock in a research report on Thursday, October 17th.

Insider Buying and Selling

In related news, CEO Todd Mckinnon sold 224,533 shares of Okta stock in a transaction on Friday, October 18th. The stock was sold at an average price of $74.62, for a total value of $16,754,652.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Todd Mckinnon sold 224,533 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $74.62, for a total transaction of $16,754,652.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Jonathan James Addison sold 9,850 shares of the firm's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $77.63, for a total transaction of $764,655.50. Following the transaction, the executive now directly owns 14,601 shares of the company's stock, valued at approximately $1,133,475.63. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 475,793 shares of company stock valued at $35,759,000. Insiders own 7.00% of the company's stock.

Institutional Investors Weigh In On Okta

Institutional investors and hedge funds have recently made changes to their positions in the company. Advisors Management Group Inc. ADV grew its holdings in shares of Okta by 32.3% during the third quarter. Advisors Management Group Inc. ADV now owns 11,758 shares of the company's stock valued at $874,000 after purchasing an additional 2,871 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in Okta during the 3rd quarter valued at approximately $56,000. Asset Management One Co. Ltd. grew its stake in Okta by 4.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 144,382 shares of the company's stock worth $10,733,000 after buying an additional 6,537 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Okta by 232.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company's stock worth $29,479,000 after buying an additional 277,084 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its stake in Okta by 37.5% in the third quarter. Harbor Capital Advisors Inc. now owns 7,031 shares of the company's stock valued at $523,000 after buying an additional 1,916 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Trading Down 0.7 %

NASDAQ:OKTA traded down $0.51 on Thursday, reaching $71.89. 1,638,741 shares of the company's stock were exchanged, compared to its average volume of 1,928,909. The business has a fifty day moving average of $76.81 and a 200-day moving average of $87.66. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18. Okta has a 52-week low of $65.04 and a 52-week high of $114.50. The firm has a market capitalization of $12.09 billion, a price-to-earnings ratio of -43.35, a price-to-earnings-growth ratio of 16.72 and a beta of 1.02.

Okta (NASDAQ:OKTA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.29. The company had revenue of $646.00 million during the quarter, compared to analysts' expectations of $632.24 million. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. As a group, analysts expect that Okta will post 0.19 earnings per share for the current year.

About Okta

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.