Okta, Inc. (NASDAQ:OKTA) Insider Larissa Schwartz Sells 2,704 Shares of Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 2,704 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $89.58, for a total transaction of $242,224.32. Following the sale, the insider now directly owns 23,311 shares in the company, valued at approximately $2,088,199.38. This trade represents a 10.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, December 30th, Larissa Schwartz sold 2,704 shares of Okta stock. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00.
• On Monday, November 4th, Larissa Schwartz sold 2,791 shares of Okta stock. The stock was sold at an average price of $71.50, for a total transaction of $199,556.50.

Okta Price Performance

Shares of NASDAQ:OKTA opened at $88.86 on Friday. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $114.50. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The stock’s 50-day moving average price is $82.18 and its 200-day moving average price is $82.25.

Analyst Upgrades and Downgrades

OKTA has been the topic of several recent research reports. BTIG Research increased their target price on Okta from $98.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Westpark Capital reissued a “buy” rating and set a $140.00 price objective on shares of Okta in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft downgraded Okta from a “buy” rating to a “hold” rating and cut their target price for the stock from $115.00 to $85.00 in a research note on Tuesday, November 12th. JMP Securities reiterated a “market perform” rating on shares of Okta in a research report on Wednesday, December 4th. Finally, DA Davidson raised their price objective on shares of Okta from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $104.55.

Hedge Funds Weigh In On Okta

A number of large investors have recently bought and sold shares of OKTA. Itau Unibanco Holding S.A. purchased a new position in shares of Okta in the third quarter worth $25,000. Future Financial Wealth Managment LLC bought a new stake in Okta in the 3rd quarter worth $26,000. Blue Trust Inc. increased its position in shares of Okta by 105.5% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after acquiring an additional 191 shares during the period. Legacy Investment Solutions LLC purchased a new position in shares of Okta in the third quarter valued at about $32,000. Finally, Modus Advisors LLC bought a new position in shares of Okta during the fourth quarter valued at about $44,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

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.