Okta, Inc. (NASDAQ:OKTA) Receives $98.30 Average PT from Brokerages

Okta, Inc. (NASDAQ:OKTA - Get Free Report) has been assigned an average recommendation of "Hold" from the thirty-two analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, nineteen have assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $98.30.

A number of equities research analysts recently commented on OKTA shares. Bank of America lowered shares of Okta from a "buy" rating to an "underperform" rating and lowered their price target for the company from $135.00 to $75.00 in a report on Thursday, August 29th. Robert W. Baird lowered their price target on shares of Okta from $105.00 to $95.00 and set an "outperform" rating for the company in a report on Friday, October 18th. Barclays initiated coverage on shares of Okta in a research report on Tuesday, November 19th. They issued an "equal weight" rating and a $81.00 target price on the stock. Stifel Nicolaus reduced their target price on shares of Okta from $122.00 to $108.00 and set a "buy" rating on the stock in a research report on Thursday, August 29th. Finally, Truist Financial reduced their target price on shares of Okta from $95.00 to $80.00 and set a "hold" rating on the stock in a research report on Thursday, October 17th.

Insider Buying and Selling at Okta

In other Okta news, insider Larissa Schwartz sold 2,790 shares of Okta stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.01, for a total transaction of $206,487.90. Following the transaction, the insider now owns 27,713 shares of the company's stock, valued at $2,051,039.13. The trade was a 9.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd Mckinnon sold 32,516 shares of the business's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $76.22, for a total transaction of $2,478,369.52. The disclosure for this sale can be found here. Insiders have sold 475,789 shares of company stock valued at $35,701,361 over the last 90 days. 7.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Okta

Several large investors have recently bought and sold shares of OKTA. Itau Unibanco Holding S.A. bought a new stake in Okta in the third quarter worth $25,000. Future Financial Wealth Managment LLC bought a new stake in Okta in the third quarter worth $26,000. Blue Trust Inc. increased its position in 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 last quarter. Legacy Investment Solutions LLC bought a new stake in Okta in the third quarter worth $32,000. Finally, EverSource Wealth Advisors LLC increased its position in Okta by 71.4% in the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company's stock worth $36,000 after purchasing an additional 142 shares during the last quarter. Institutional investors own 86.64% of the company's stock.

Okta Stock Performance

OKTA stock traded down $0.27 during midday trading on Monday, reaching $76.30. The company had a trading volume of 1,652,222 shares, compared to its average volume of 1,953,794. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83. Okta has a 1 year low of $66.69 and a 1 year high of $114.50. The firm has a 50-day moving average price of $74.72 and a 200-day moving average price of $85.32.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of ($0.08) by $0.29. The firm had revenue of $646.00 million during the quarter, compared to analyst estimates of $632.24 million. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. On average, research analysts anticipate that Okta will post 0.19 EPS for the current fiscal 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.