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

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 11,552 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total value of $1,317,967.68. Following the transaction, the insider now owns 22,125 shares in the company, valued at $2,524,241.25. The trade was a 34.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Tuesday, February 11th, Larissa Schwartz sold 2,740 shares of Okta stock. The stock was 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 stock was sold at an average price of $80.50, for a total value of $217,672.00.

Okta Trading Up 0.8 %

Shares of Okta stock opened at $113.74 on Friday. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $116.96. The firm has a market cap of $19.75 billion, a PE ratio of -324.97, a P/E/G ratio of 6.42 and a beta of 1.09. The business’s fifty day moving average is $97.48 and its two-hundred day moving average is $84.32. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Oppenheimer boosted their target price on Okta from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. upped their price target on Okta from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, February 28th. Truist Financial upped their price target on Okta from $92.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, March 4th. Jefferies Financial Group upped their price target on Okta from $90.00 to $110.00 and gave the stock a “hold” rating in a report on Tuesday, March 4th. Finally, KeyCorp upped their price target on Okta from $125.00 to $135.00 and gave the stock an “overweight” rating in a report 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 assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $115.29.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OKTA. Norges Bank purchased a new position in shares of Okta during the 4th quarter worth $234,992,000. Ameriprise Financial Inc. increased its holdings in shares of Okta by 2,135.7% during the 4th quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company’s stock worth $150,845,000 after buying an additional 1,828,630 shares during the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of Okta by 2,309.4% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,772,751 shares of the company’s stock worth $139,693,000 after buying an additional 1,699,176 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Okta by 236.8% during the 4th quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company’s stock worth $176,271,000 after buying an additional 1,572,786 shares during the last quarter. Finally, Sachem Head Capital Management LP acquired a new stake in shares of Okta during the 4th quarter worth $105,592,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

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.