Okta, Inc. (NASDAQ:OKTA) Receives Average Rating of "Hold" from Analysts

Shares of Okta, Inc. (NASDAQ:OKTA - Get Free Report) have received a consensus rating of "Hold" from the thirty-two ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $104.45.

OKTA has been the topic of a number of research analyst reports. Guggenheim reissued a "buy" rating and issued a $130.00 price target on shares of Okta in a research note on Wednesday, December 4th. Westpark Capital reissued a "buy" rating and issued a $140.00 target price on shares of Okta in a research report on Wednesday, December 4th. Truist Financial reaffirmed a "hold" rating and set a $92.00 price target (up previously from $80.00) on shares of Okta in a research report on Wednesday, December 4th. Jefferies Financial Group decreased their price target on shares of Okta from $100.00 to $90.00 and set a "hold" rating on the stock in a report on Thursday. Finally, Canaccord Genuity Group upped their price objective on Okta from $82.00 to $94.00 and gave the stock a "hold" rating in a report on Wednesday, December 4th.

Okta Trading Up 1.9 %

OKTA traded up $1.59 during trading on Friday, hitting $83.28. The company's stock had a trading volume of 4,809,940 shares, compared to its average volume of 2,180,571. Okta has a twelve month low of $70.56 and a twelve month high of $114.50. The stock has a market cap of $14.27 billion, a PE ratio of -237.94, a PEG ratio of 8.61 and a beta of 1.00. The firm's 50 day moving average price is $77.51 and its 200-day moving average price is $83.36. 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 Buying and Selling at Okta

In related news, CRO Jonathan James Addison sold 9,850 shares of the firm's stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $77.63, for a total transaction of $764,655.50. Following the completion of the transaction, the executive now owns 14,601 shares of the company's stock, valued at $1,133,475.63. This trade represents a 40.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Todd Mckinnon sold 32,516 shares of the business's stock in a transaction dated 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 403,913 shares of company stock valued at $31,017,815 in the last quarter. Corporate insiders own 7.00% of the company's stock.

Hedge Funds Weigh In On Okta

Several hedge funds have recently made changes to their positions in the business. Atria Wealth Solutions Inc. grew its holdings in shares of Okta by 75.4% during the second quarter. Atria Wealth Solutions Inc. now owns 11,477 shares of the company's stock valued at $1,074,000 after buying an additional 4,932 shares in the last quarter. First Command Advisory Services Inc. acquired a new position in shares of Okta in the 2nd quarter valued at about $47,000. Railway Pension Investments Ltd lifted its position in shares of Okta by 27.7% in the second quarter. Railway Pension Investments Ltd now owns 225,296 shares of the company's stock worth $21,090,000 after purchasing an additional 48,900 shares in the last quarter. Atomi Financial Group Inc. acquired a new stake in shares of Okta during the second quarter worth approximately $206,000. Finally, Cambridge Investment Research Advisors Inc. grew its position in Okta by 11.8% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 16,285 shares of the company's stock valued at $1,524,000 after purchasing an additional 1,721 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

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.