Okta Target of Unusually High Options Trading (NASDAQ:OKTA)

Okta, Inc. (NASDAQ:OKTA - Get Free Report) saw some unusual options trading on Monday. Traders acquired 34,505 call options on the stock. This is an increase of 63% compared to the typical volume of 21,109 call options.

Insider Activity

In other news, insider Larissa Schwartz sold 2,704 shares of the company's stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $80.50, for a total value of $217,672.00. Following the sale, the insider now directly owns 24,462 shares in the company, valued at approximately $1,969,191. This represents a 9.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jacques Frederic Kerrest sold 390,000 shares of the stock in a transaction on Thursday, January 23rd. The stock was 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. Over the last three months, insiders sold 763,901 shares of company stock valued at $70,880,205. 7.00% of the stock is owned by company insiders.

Institutional Trading of Okta

Several hedge funds and other institutional investors have recently modified their holdings of OKTA. Wellington Management Group LLP grew its position in shares of Okta by 68.8% in the fourth quarter. Wellington Management Group LLP now owns 34,042 shares of the company's stock valued at $2,683,000 after purchasing an additional 13,869 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Okta by 52.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company's stock worth $956,000 after buying an additional 4,171 shares in the last quarter. Fluent Financial LLC acquired a new stake in shares of Okta during the 4th quarter worth approximately $1,287,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Okta in the 4th quarter valued at $8,680,000. Finally, Forum Financial Management LP bought a new position in Okta in the fourth quarter valued at about $333,000. Institutional investors own 86.64% of the company's stock.

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Okta Stock Performance

OKTA traded down $3.14 during trading hours on Friday, reaching $108.06. The company's stock had a trading volume of 1,709,625 shares, compared to its average volume of 2,424,405. The company's 50-day moving average is $99.92 and its 200-day moving average is $85.43. Okta has a 52 week low of $70.56 and a 52 week high of $118.07. The firm has a market cap of $18.76 billion, a PE ratio of -308.86, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

Analysts Set New Price Targets

Several analysts have weighed in on OKTA shares. The Goldman Sachs Group upped their price objective on shares of Okta from $107.00 to $123.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Sanford C. Bernstein lowered their price objective on Okta from $129.00 to $124.00 and set an "outperform" rating for the company in a research report on Tuesday, December 17th. BTIG Research reiterated a "buy" rating on shares of Okta in a research report on Tuesday, March 4th. Robert W. Baird upped their price target on Okta from $115.00 to $130.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. Finally, Morgan Stanley set a $125.00 price objective on shares of Okta in a research report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Okta has a consensus rating of "Moderate Buy" and a consensus price target 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.