Sen. Sells Off Shares of Okta, Inc. (NASDAQ:OKTA)

Senator (R-Florida) recently sold shares of Okta, Inc. (NASDAQ:OKTA). In a filing disclosed on February 21st, the Senator disclosed that they had sold between $50,001 and $100,000 in Okta stock on January 21st.

Senator also recently made the following trade(s):

• Purchased $50,001 – $100,000 in shares of Howmet Aerospace (NYSE:HWM) on 1/22/2025.
• Purchased $100,001 – $250,000 in shares of Applied Materials (NASDAQ:AMAT) on 1/22/2025.
• Purchased $50,001 – $100,000 in shares of Micron Technology (NASDAQ:MU) on 1/22/2025.

Okta Stock Down 2.6 %

Shares of NASDAQ OKTA opened at $92.75 on Friday. The firm’s 50-day moving average price is $88.64 and its 200-day moving average price is $82.53. 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 stock has a market capitalization of $15.89 billion, a price-to-earnings ratio of -265.00, a P/E/G ratio of 6.42 and a beta of 1.03. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $114.50.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on OKTA shares. Scotiabank reduced 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 report on Tuesday, January 21st. BTIG Research increased their price objective on shares of Okta from $98.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. UBS Group increased their price objective on shares of Okta from $108.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday. Susquehanna increased their price objective on shares of Okta from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, KeyCorp increased their price objective on shares of Okta from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Okta currently has an average rating of “Hold” and a consensus target price of $106.13.

Hedge Funds Weigh In On Okta

Hedge funds and other institutional investors have recently modified their holdings of the business. Frank Rimerman Advisors LLC boosted its stake in Okta by 2.4% in the fourth quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock valued at $352,000 after acquiring an additional 105 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in 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 acquiring an additional 136 shares in the last quarter. Stephens Inc. AR boosted its stake in Okta by 5.0% in the fourth quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock valued at $260,000 after acquiring an additional 157 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Okta by 3.1% in 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 in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Okta by 2.3% in the fourth 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. 86.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 131,426 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $80.68, for a total value of $10,603,449.68. Following the completion of the transaction, the director now owns 1,622 shares of the company’s stock, valued at approximately $130,862.96. This trade represents a 98.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Todd Mckinnon sold 233,028 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $82.31, for a total transaction of $19,180,534.68. The disclosure for this sale can be found here. Insiders sold a total of 980,908 shares of company stock worth $85,025,665 over the last three months. Corporate insiders own 7.00% of the company’s stock.

About Senator

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.