Okta (NASDAQ:OKTA - Get Free Report) was upgraded by equities researchers at Stephens to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.
Other equities research analysts also recently issued research reports about the company. Robert W. Baird raised their price target on Okta from $115.00 to $130.00 and gave the company an "outperform" rating in a report on Tuesday, March 4th. Scotiabank raised their target price on shares of Okta from $94.00 to $109.00 and gave the stock a "sector perform" rating in a research note on Tuesday, March 4th. Oppenheimer upped their price target on shares of Okta from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. JMP Securities restated a "market perform" rating on shares of Okta in a research report on Wednesday, December 4th. Finally, BMO Capital Markets boosted their price objective on Okta from $105.00 to $130.00 and gave the stock a "market perform" rating in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Okta currently has an average rating of "Moderate Buy" and an average price target of $116.09.
View Our Latest Report on Okta
Okta Stock Performance
NASDAQ:OKTA traded down $8.34 on Monday, hitting $91.93. The company's stock had a trading volume of 7,543,540 shares, compared to its average volume of 2,469,366. Okta has a one year low of $70.56 and a one year high of $118.07. The firm has a market capitalization of $15.96 billion, a P/E ratio of -262.66, a price-to-earnings-growth ratio of 6.42 and a beta of 1.06. The stock has a fifty day moving average of $101.58 and a two-hundred day moving average of $86.54. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06.
Insider Buying and Selling at Okta
In related news, CFO Brett Tighe sold 5,000 shares of the company's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total transaction of $445,000.00. Following the completion of the sale, the chief financial officer now directly owns 112,533 shares in the company, valued at $10,015,437. This represents a 4.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jacques Frederic Kerrest sold 390,000 shares of the firm's stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $87.09, for a total value of $33,965,100.00. 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. 7.00% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Okta
A number of institutional investors have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. bought a new stake in shares of Okta during the third quarter worth $25,000. Bank of Jackson Hole Trust acquired a new stake in shares of Okta during the 4th quarter valued at $25,000. Legacy Investment Solutions LLC bought a new stake in Okta during the 3rd quarter worth $32,000. TD Private Client Wealth LLC increased its holdings in Okta by 3,507.7% in the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock worth $37,000 after purchasing an additional 456 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in Okta in the 4th quarter worth about $40,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.
About Okta
(
Get Free Report)
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.
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