Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest Sells 65,000 Shares

Okta, Inc. (NASDAQ:OKTA - Get Free Report) Director Jacques Frederic Kerrest sold 65,000 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $97.50, for a total value of $6,337,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Jacques Frederic Kerrest also recently made the following trade(s):

• On Tuesday, January 28th, Jacques Frederic Kerrest sold 130,000 shares of Okta stock. The shares were sold at an average price of $93.00, for a total value of $12,090,000.00.
• On Thursday, January 23rd, Jacques Frederic Kerrest sold 390,000 shares of Okta stock. The shares were sold at an average price of $87.09, for a total value of $33,965,100.00.
• On Tuesday, January 21st, Jacques Frederic Kerrest sold 3,306 shares of Okta stock. The stock was sold at an average price of $88.85, for a total value of $293,738.10.
• On Monday, December 2nd, Jacques Frederic Kerrest sold 131,426 shares of Okta stock. The stock was sold at an average price of $80.68, for a total value of $10,603,449.68.

Okta Trading Down 1.9 %

OKTA traded down $1.88 during midday trading on Tuesday, reaching $95.78. 1,693,936 shares of the company were exchanged, compared to its average volume of 2,482,299. 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 one year low of $70.56 and a one year high of $114.50. The stock has a market capitalization of $16.41 billion, a P/E ratio of -273.66, a PEG ratio of 6.58 and a beta of 1.03. The stock's 50-day simple moving average is $86.33 and its 200 day simple moving average is $82.06.

Hedge Funds Weigh In On Okta

Several institutional investors have recently modified their holdings of OKTA. Itau Unibanco Holding S.A. bought a new position in shares of Okta during the 3rd quarter valued at about $25,000. Bank of Jackson Hole Trust bought a new position in shares of Okta during the 4th quarter valued at about $25,000. Future Financial Wealth Managment LLC bought a new position in shares of Okta during the 3rd quarter valued at about $26,000. Blue Trust Inc. lifted its holdings in shares of Okta by 105.5% during 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 in the last quarter. Finally, Legacy Investment Solutions LLC bought a new position in shares of Okta during the 3rd quarter valued at about $32,000. Institutional investors own 86.64% of the company's stock.

Analyst Ratings Changes

OKTA has been the subject of several recent analyst reports. Wells Fargo & Company increased their price objective on Okta from $80.00 to $95.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 5th. BTIG Research increased their price objective on Okta from $98.00 to $110.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Canaccord Genuity Group increased their price objective on Okta from $82.00 to $94.00 and gave the stock a "hold" rating in a research note on Wednesday, December 4th. BMO Capital Markets increased their price objective on Okta from $103.00 to $105.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Finally, Scotiabank lowered their target price on Okta from $96.00 to $94.00 and set a "sector perform" rating for the company in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Okta presently has an average rating of "Hold" and a consensus price target of $104.87.

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.