Okta (NASDAQ:OKTA) Given New $105.00 Price Target at JPMorgan Chase & Co.

Okta (NASDAQ:OKTA) had its target price hoisted by JPMorgan Chase & Co. from $100.00 to $105.00 in a research note released on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities analysts have also issued reports about the company. Piper Sandler increased their price objective on Okta from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group increased their price objective on Okta from $82.00 to $94.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Sanford C. Bernstein reduced their price objective on Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 17th. Truist Financial reiterated a “hold” rating and set a $92.00 price objective (up from $80.00) on shares of Okta in a research report on Wednesday, December 4th. Finally, Citigroup increased their price objective on Okta from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Okta has an average rating of “Hold” and a consensus target price of $105.67.

Okta Stock Performance

NASDAQ:OKTA opened at $90.49 on Friday. The business’s 50-day moving average price is $89.30 and its two-hundred day moving average price is $82.60. Okta has a twelve month low of $70.56 and a twelve month high of $114.50. The stock has a market cap of $15.51 billion, a P/E ratio of -258.54, a PEG ratio of 6.42 and a beta of 1.03. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Insider Activity at Okta

In related news, insider Larissa Schwartz sold 2,704 shares of Okta 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 sale, the insider now directly owns 24,462 shares in the company, valued at $1,969,191. The trade was a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Todd Mckinnon sold 233,028 shares of Okta stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $82.31, for a total value of $19,180,534.68. The disclosure for this sale can be found here. Insiders have sold 980,908 shares of company stock worth $85,025,665 over the last ninety days. 7.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Okta

Several hedge funds have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Okta in the fourth quarter worth $8,680,000. Forum Financial Management LP bought a new stake in Okta in the fourth quarter worth $333,000. University of Texas Texas AM Investment Management Co. bought a new stake in Okta in the fourth quarter worth $40,000. PharVision Advisers LLC bought a new stake in Okta in the fourth quarter worth $299,000. Finally, Woodline Partners LP bought a new stake in Okta in the fourth quarter worth $2,199,000. 86.64% of the stock is owned by institutional investors.

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.