Larissa Schwartz Sells 11,552 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 11,552 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total value of $1,317,967.68. Following the completion of the sale, the insider now owns 22,125 shares of the company’s stock, valued at $2,524,241.25. The trade was a 34.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, February 11th, Larissa Schwartz sold 2,740 shares of Okta stock. The shares were sold at an average price of $97.59, for a total value of $267,396.60.
• On Wednesday, January 22nd, Larissa Schwartz sold 2,704 shares of Okta stock. The stock was sold at an average price of $89.58, for a total value of $242,224.32.
• 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 value of $217,672.00.

Okta Stock Performance

OKTA opened at $113.74 on Friday. 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 $97.48 and its two-hundred day moving average price is $84.38. The firm has a market capitalization of $19.75 billion, a P/E ratio of -324.97, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $116.96.

Institutional Investors Weigh In On Okta

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Frank Rimerman Advisors LLC boosted its holdings in Okta by 2.4% in the 4th quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock valued at $352,000 after purchasing an additional 105 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Okta by 1.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 7,873 shares of the company’s stock valued at $620,000 after buying an additional 136 shares during the period. Stephens Inc. AR grew its position in Okta by 5.0% during the fourth quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock worth $260,000 after buying an additional 157 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in Okta by 3.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,646 shares of the company’s stock valued at $445,000 after acquiring an additional 171 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Okta by 2.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock valued at $605,000 after acquiring an additional 180 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on OKTA shares. BTIG Research reaffirmed a “buy” rating on shares of Okta in a research report on Tuesday, March 4th. Royal Bank of Canada lifted their target price on shares of Okta from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. BMO Capital Markets upped their price target on shares of Okta from $105.00 to $130.00 and gave the stock a “market perform” rating in a research note on Monday, March 10th. DA Davidson raised Okta from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $90.00 to $125.00 in a research report on Tuesday, March 4th. Finally, Canaccord Genuity Group boosted their target price on Okta from $94.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.