Okta, Inc. (NASDAQ:OKTA) Given Average Rating of “Hold” by Brokerages

Okta, Inc. (NASDAQ:OKTA) has earned a consensus rating of “Hold” from the thirty-two analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $105.45.

Several equities analysts have recently issued reports on OKTA shares. Susquehanna boosted their price target on shares of Okta from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft cut shares of Okta from a “buy” rating to a “hold” rating and decreased their price target for the stock from $115.00 to $85.00 in a research note on Tuesday, November 12th. Citigroup lifted their target price on Okta from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Canaccord Genuity Group boosted their target price on shares of Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Finally, Truist Financial reaffirmed a “hold” rating and issued a $92.00 price objective (up from $80.00) on shares of Okta in a research report on Wednesday, December 4th.

Okta Stock Up 2.6 %

Shares of NASDAQ OKTA opened at $98.26 on Friday. Okta has a 1 year low of $70.56 and a 1 year high of $114.50. The firm has a market capitalization of $16.84 billion, a PE ratio of -280.74, a price-to-earnings-growth ratio of 6.58 and a beta of 1.03. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The firm’s 50-day moving average is $86.85 and its 200-day moving average is $82.19.

Insiders Place Their Bets

In related news, insider Larissa Schwartz sold 2,704 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $80.50, for a total transaction of $217,672.00. Following the completion of the transaction, the insider now directly owns 24,462 shares in the company, valued at approximately $1,969,191. The trade was a 9.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jacques Frederic Kerrest sold 131,426 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $80.68, for a total value of $10,603,449.68. Following the completion of the sale, the director now owns 1,622 shares of the company’s stock, valued at $130,862.96. The trade was a 98.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 978,168 shares of company stock valued at $84,758,269. 7.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Okta

Large investors have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. purchased a new stake in Okta in the 3rd quarter worth about $25,000. Bank of Jackson Hole Trust bought a new position in shares of Okta during the 4th quarter worth $25,000. Future Financial Wealth Managment LLC bought a new position in Okta during the 3rd quarter worth about $26,000. Blue Trust Inc. increased its holdings in Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after buying an additional 191 shares during the period. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Okta in the 3rd quarter valued at $32,000. 86.64% of the stock is owned by 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.