Okta, Inc. (NASDAQ:OKTA) Insider Sells $217,672.00 in Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 2,704 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00. Following the completion of the sale, the insider now owns 24,462 shares in the company, valued at approximately $1,969,191. This trade represents a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Larissa Schwartz also recently made the following trade(s):

• On Monday, November 4th, Larissa Schwartz sold 2,791 shares of Okta stock. The shares were sold at an average price of $71.50, for a total transaction of $199,556.50.
• On Monday, October 14th, Larissa Schwartz sold 2,797 shares of Okta stock. The stock was sold at an average price of $77.63, for a total transaction of $217,131.11.

Okta Stock Up 2.4 %

OKTA opened at $80.76 on Friday. The stock has a market capitalization of $13.84 billion, a P/E ratio of -230.74, a price-to-earnings-growth ratio of 8.61 and a beta of 1.00. Okta, Inc. has a one year low of $70.56 and a one year high of $114.50. The business’s 50-day simple moving average is $78.94 and its 200-day simple moving average is $82.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

Wall Street Analyst Weigh In

A number of research firms have commented on OKTA. KeyCorp upgraded Okta from a “sector weight” rating to an “overweight” rating and set a $115.00 price target on the stock in a research note on Thursday, December 19th. Citigroup raised their target price on Okta from $90.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Wells Fargo & Company boosted their price target on shares of Okta from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Piper Sandler raised their price objective on shares of Okta from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, Needham & Company LLC lifted their price objective on shares of Okta from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $104.45.

Hedge Funds Weigh In On Okta

A number of institutional investors have recently modified their holdings of the business. Everence Capital Management Inc. acquired a new stake in Okta during the 4th quarter worth approximately $355,000. Modus Advisors LLC acquired a new stake in shares of Okta in the 4th quarter worth approximately $44,000. 272 Capital LP acquired a new position in Okta during the third quarter worth $1,241,000. Oddo BHF Asset Management Sas purchased a new position in shares of Okta in the third quarter valued at $5,343,000. Finally, Tidal Investments LLC raised its stake in shares of Okta by 132.0% during the 3rd quarter. Tidal Investments LLC now owns 25,103 shares of the company’s stock worth $1,866,000 after buying an additional 14,283 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

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.