Jacques Frederic Kerrest Sells 130,000 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 130,000 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $93.00, for a total value of $12,090,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, January 23rd, Jacques Frederic Kerrest sold 390,000 shares of Okta stock. The shares were sold at an average price of $87.09, for a total value of $33,965,100.00.
• 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 transaction of $293,738.10.
• On Monday, December 2nd, Jacques Frederic Kerrest sold 131,426 shares of Okta stock. The stock was sold at an average price of $80.68, for a total transaction of $10,603,449.68.

Okta Price Performance

Shares of OKTA traded down $0.24 during mid-day trading on Thursday, reaching $93.76. The company had a trading volume of 2,280,068 shares, compared to its average volume of 2,626,775. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market capitalization of $16.07 billion, a P/E ratio of -267.89, a P/E/G ratio of 8.95 and a beta of 1.00. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $114.50. The company’s 50-day moving average is $83.35 and its 200-day moving average is $82.15.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. JMP Securities reiterated a “market perform” rating on shares of Okta in a research note on Wednesday, December 4th. Truist Financial reiterated a “hold” rating and issued a $92.00 target price (up previously from $80.00) on shares of Okta in a research report on Wednesday, December 4th. BTIG Research raised their price objective on Okta from $98.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. DA Davidson lifted their price objective on shares of Okta from $75.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Mizuho dropped their target price on shares of Okta from $104.00 to $92.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $104.55.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in OKTA. Stephens Inc. AR lifted its stake in shares of Okta by 5.0% during 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 during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Okta by 2.3% during 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 during the last quarter. Bleakley Financial Group LLC lifted its stake in shares of Okta by 4.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock valued at $306,000 after purchasing an additional 182 shares during the period. Creative Financial Designs Inc. ADV boosted its position in shares of Okta by 12.4% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,704 shares of the company’s stock worth $127,000 after purchasing an additional 188 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after purchasing an additional 191 shares during the period. 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.