Weekly Analysts’ Ratings Changes for Okta (OKTA)

Okta (NASDAQ: OKTA) recently received a number of ratings updates from brokerages and research firms:

• 12/2/2024 – Okta was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating. They now have a $97.00 price target on the stock, up previously from $92.00.
• 11/29/2024 – Okta had its price target lowered by analysts at JPMorgan Chase & Co. from $105.00 to $85.00. They now have a “neutral” rating on the stock.
• 11/19/2024 – Okta is now covered by analysts at Barclays PLC. They set an “equal weight” rating and a $81.00 price target on the stock.
• 11/12/2024 – Okta was downgraded by analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating. They now have a $85.00 price target on the stock, down previously from $115.00.
• 11/4/2024 – Okta had its price target lowered by analysts at Morgan Stanley from $100.00 to $92.00. They now have an “equal weight” rating on the stock.
• 10/22/2024 – Okta had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $113.00 to $97.00. They now have a “buy” rating on the stock.
• 10/18/2024 – Okta had its price target lowered by analysts at Robert W. Baird from $105.00 to $95.00. They now have an “outperform” rating on the stock.
• 10/18/2024 – Okta had its price target lowered by analysts at Canaccord Genuity Group Inc. from $90.00 to $82.00. They now have a “hold” rating on the stock.
• 10/17/2024 – Okta had its price target lowered by analysts at Royal Bank of Canada from $125.00 to $101.00. They now have an “outperform” rating on the stock.
• 10/17/2024 – Okta had its price target lowered by analysts at DA Davidson from $85.00 to $75.00. They now have a “neutral” rating on the stock.
• 10/17/2024 – Okta had its price target lowered by analysts at Mizuho from $104.00 to $92.00. They now have a “neutral” rating on the stock.
• 10/17/2024 – Okta had its price target lowered by analysts at Piper Sandler from $100.00 to $85.00. They now have a “neutral” rating on the stock.
• 10/17/2024 – Okta had its price target lowered by analysts at Truist Financial Co. from $95.00 to $80.00. They now have a “hold” rating on the stock.
• 10/17/2024 – Okta had its price target lowered by analysts at Wells Fargo & Company from $90.00 to $80.00. They now have an “equal weight” rating on the stock.
• 10/17/2024 – Okta had its price target lowered by analysts at BTIG Research from $128.00 to $98.00. They now have a “buy” rating on the stock.
• 10/17/2024 – Okta is now covered by analysts at Needham & Company LLC. They set a “buy” rating and a $100.00 price target on the stock.

Okta Trading Down 0.8 %

OKTA traded down $0.64 during midday trading on Tuesday, hitting $80.21. 2,479,596 shares of the company were exchanged, compared to its average volume of 1,977,530. The firm has a market capitalization of $13.62 billion, a P/E ratio of -95.49, a P/E/G ratio of 18.99 and a beta of 1.00. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $114.50. The firm’s 50 day moving average price is $75.03 and its 200-day moving average price is $84.42. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18.

Insider Activity

In other news, insider Larissa Schwartz sold 2,790 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.01, for a total value of $206,487.90. Following the transaction, the insider now directly owns 27,713 shares of the company’s stock, valued at $2,051,039.13. The trade was a 9.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Todd Mckinnon sold 200,512 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $75.21, for a total value of $15,080,507.52. Following the completion of the transaction, the chief executive officer now directly owns 8,495 shares in the company, valued at $638,908.95. This represents a 95.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 475,789 shares of company stock valued at $35,701,361 in the last ninety days. 7.00% of the stock is owned by company insiders.

Institutional Trading of Okta

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in Okta by 122.3% in the 3rd quarter. SG Americas Securities LLC now owns 17,021 shares of the company’s stock valued at $1,265,000 after buying an additional 9,364 shares in the last quarter. Paloma Partners Management Co bought a new stake in Okta during the 3rd quarter worth approximately $969,000. Truist Financial Corp increased its holdings in Okta by 62.5% during the 2nd quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock worth $48,870,000 after purchasing an additional 200,770 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Okta by 105.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock worth $26,627,000 after purchasing an additional 184,107 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Okta by 7.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,547 shares of the company’s stock worth $8,813,000 after purchasing an additional 8,239 shares in the last quarter. 86.64% of the stock is owned by institutional investors.

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.