Jacques Frederic Kerrest Sells 390,000 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 390,000 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $87.09, for a total value of $33,965,100.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Jacques Frederic Kerrest also recently made the following trade(s):

• On Tuesday, January 21st, Jacques Frederic Kerrest sold 3,306 shares of Okta stock. The shares were sold at an average price of $88.85, for a total value of $293,738.10.
• On Monday, December 2nd, Jacques Frederic Kerrest sold 131,426 shares of Okta stock. The shares were sold at an average price of $80.68, for a total value of $10,603,449.68.

Okta Stock Performance

NASDAQ:OKTA opened at $94.93 on Wednesday. The stock’s fifty day moving average is $82.95 and its 200 day moving average is $82.06. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $114.50. The firm has a market capitalization of $16.27 billion, a PE ratio of -271.23, a PEG ratio of 8.95 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OKTA. Scotiabank cut their price objective on Okta from $96.00 to $94.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. DA Davidson upped their price target on Okta from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Barclays upped their price target on Okta from $81.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. Citigroup upped their price target on Okta from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Finally, Morgan Stanley upgraded Okta from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $92.00 to $97.00 in a research note on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $104.55.

Hedge Funds Weigh In On Okta

Several hedge funds have recently bought and sold shares of OKTA. Point72 Asset Management L.P. bought a new position in Okta in the 3rd quarter valued at $49,373,000. Nordea Investment Management AB grew its position in Okta by 1,150.2% in the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after acquiring an additional 382,190 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in Okta by 232.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company’s stock valued at $29,479,000 after acquiring an additional 277,084 shares during the last quarter. Truist Financial Corp grew its position in Okta by 62.5% in the 2nd quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock valued at $48,870,000 after acquiring an additional 200,770 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Okta by 105.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock valued at $26,627,000 after acquiring an additional 184,107 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

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.