Okta (NASDAQ:OKTA) Coverage Initiated at Stephens

Stock analysts at Stephens assumed coverage on shares of Okta (NASDAQ:OKTA - Get Free Report) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm set an "equal weight" rating and a $127.00 price target on the stock. Stephens' price target points to a potential upside of 38.15% from the company's previous close.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. increased their price target on Okta from $100.00 to $105.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. Sanford C. Bernstein reduced their price target on shares of Okta from $129.00 to $124.00 and set an "outperform" rating on the stock in a research report on Tuesday, December 17th. Piper Sandler lifted their price objective on shares of Okta from $85.00 to $90.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 4th. Westpark Capital restated a "buy" rating and set a $140.00 target price on shares of Okta in a research report on Friday, February 28th. Finally, Robert W. Baird lifted their price target on Okta from $115.00 to $130.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $116.09.

Remove Ads

Okta Price Performance

NASDAQ OKTA traded down $8.34 on Tuesday, reaching $91.93. The company had a trading volume of 7,539,910 shares, compared to its average volume of 2,469,360. The firm's 50 day moving average price is $101.58 and its 200 day moving average price is $86.54. Okta has a 12 month low of $70.56 and a 12 month high of $118.07. The stock has a market capitalization of $15.96 billion, a PE ratio of -262.66, a price-to-earnings-growth ratio of 6.42 and a beta of 1.06. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Insider Buying and Selling at Okta

In other news, insider Eric Robert Kelleher sold 5,895 shares of Okta stock in a transaction on Monday, March 17th. The stock was sold at an average price of $113.75, for a total value of $670,556.25. Following the transaction, the insider now directly owns 9,828 shares in the company, valued at approximately $1,117,935. This trade represents a 37.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Larissa Schwartz sold 11,552 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the completion of the transaction, the insider now owns 22,125 shares of the company's stock, valued at $2,524,241.25. This represents a 34.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 761,197 shares of company stock valued at $70,662,533. Company insiders own 7.00% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new position in Okta in the third quarter worth $25,000. Bank of Jackson Hole Trust purchased a new position in Okta during the 4th quarter worth $25,000. Legacy Investment Solutions LLC acquired a new position in Okta during the 3rd quarter valued at about $32,000. TD Private Client Wealth LLC increased its position in Okta by 3,507.7% during the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock valued at $37,000 after buying an additional 456 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in Okta in the fourth quarter worth about $40,000. Institutional investors own 86.64% of the company's stock.

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.