Okta, Inc. (NASDAQ:OKTA) CFO Brett Tighe Sells 5,000 Shares

Okta, Inc. (NASDAQ:OKTA) CFO Brett Tighe sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total transaction of $445,000.00. Following the transaction, the chief financial officer now owns 112,533 shares in the company, valued at $10,015,437. This represents a 4.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Okta Trading Up 0.9 %

Shares of NASDAQ OKTA opened at $88.86 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $114.50. The firm has a 50 day moving average price of $82.18 and a two-hundred day moving average price of $82.16. The stock has a market cap of $15.23 billion, a P/E ratio of -253.89, a price-to-earnings-growth ratio of 8.95 and a beta of 1.00.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Scotiabank lowered their price objective on shares of Okta from $96.00 to $94.00 and set a “sector perform” rating on the stock in a research note on Tuesday, January 21st. BMO Capital Markets boosted their price objective on shares of Okta from $103.00 to $105.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Susquehanna boosted their price objective on shares of Okta from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group upped their price target on shares of Okta from $82.00 to $94.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Okta from a “buy” rating to a “hold” rating and decreased their price target for the company from $115.00 to $85.00 in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Okta has a consensus rating of “Hold” and a consensus price target of $104.55.

Institutional Investors Weigh In On Okta

Several large investors have recently modified their holdings of OKTA. Dimensional Fund Advisors LP increased its position in shares of Okta by 20.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,029,753 shares of the company’s stock worth $96,388,000 after buying an additional 178,011 shares during the period. Amalgamated Bank increased its position in shares of Okta by 5.2% during the second quarter. Amalgamated Bank now owns 9,351 shares of the company’s stock worth $875,000 after buying an additional 461 shares during the period. Intech Investment Management LLC boosted its stake in Okta by 36.4% during the second quarter. Intech Investment Management LLC now owns 15,116 shares of the company’s stock worth $1,415,000 after acquiring an additional 4,031 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Okta by 639.5% during the second quarter. Canada Pension Plan Investment Board now owns 56,200 shares of the company’s stock worth $5,261,000 after acquiring an additional 48,600 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Okta by 900.4% during the second quarter. Pacer Advisors Inc. now owns 32,452 shares of the company’s stock worth $3,038,000 after acquiring an additional 29,208 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

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.