Okta, Inc. (NASDAQ:OKTA) Insider Larissa Schwartz Sells 11,552 Shares

Okta, Inc. (NASDAQ:OKTA - Get Free Report) insider Larissa Schwartz sold 11,552 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total value of $1,317,967.68. Following the completion of the transaction, the insider now directly owns 22,125 shares in the company, valued at approximately $2,524,241.25. The trade was a 34.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Larissa Schwartz also recently made the following trade(s):

• On Tuesday, February 11th, Larissa Schwartz sold 2,740 shares of Okta stock. The shares were sold at an average price of $97.59, for a total transaction of $267,396.60.
• On Wednesday, January 22nd, Larissa Schwartz sold 2,704 shares of Okta stock. The shares were sold at an average price of $89.58, for a total transaction of $242,224.32.
• On Monday, December 30th, Larissa Schwartz sold 2,704 shares of Okta stock. The shares were sold at an average price of $80.50, for a total value of $217,672.00.

Okta Trading Up 0.3 %

OKTA stock traded up $0.34 during mid-day trading on Tuesday, reaching $116.72. 3,016,852 shares of the stock traded hands, compared to its average volume of 2,379,706. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $118.07. The stock's fifty day moving average is $98.14 and its 200-day moving average is $84.73. The company has a market cap of $20.26 billion, a P/E ratio of -333.49, a P/E/G ratio of 6.42 and a beta of 1.09. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06.

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Hedge Funds Weigh In On Okta

Several institutional investors and hedge funds have recently added to or reduced their stakes in OKTA. Norges Bank purchased a new position in Okta during the 4th quarter valued at about $234,992,000. Ameriprise Financial Inc. grew its position in Okta by 2,135.7% during the fourth quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock valued at $150,845,000 after purchasing an additional 1,828,630 shares in the last quarter. Alyeska Investment Group L.P. increased its stake in Okta by 2,309.4% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,772,751 shares of the company's stock valued at $139,693,000 after buying an additional 1,699,176 shares during the period. Point72 Asset Management L.P. lifted its position in Okta by 236.8% in the 4th quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock worth $176,271,000 after buying an additional 1,572,786 shares in the last quarter. Finally, Sachem Head Capital Management LP acquired a new stake in shares of Okta during the 4th quarter valued at $105,592,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OKTA has been the subject of several research reports. Sanford C. Bernstein decreased their target price on Okta from $129.00 to $124.00 and set an "outperform" rating for the company in a research report on Tuesday, December 17th. UBS Group set a $135.00 target price on shares of Okta in a research note on Tuesday, March 4th. BTIG Research restated a "buy" rating on shares of Okta in a research report on Tuesday, March 4th. The Goldman Sachs Group boosted their price objective on shares of Okta from $107.00 to $123.00 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Finally, DA Davidson upgraded shares of Okta from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $90.00 to $125.00 in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $115.29.

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.