Okta, Inc. (NASDAQ:OKTA) Receives $104.45 Average Price Target from Analysts

Shares of Okta, Inc. (NASDAQ:OKTA) have been assigned an average recommendation of “Hold” from the thirty-two brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $104.45.

A number of analysts recently issued reports on OKTA shares. Barclays raised their price objective on shares of Okta from $81.00 to $96.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. DA Davidson raised their price target on shares of Okta from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Bank of America downgraded Okta from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $135.00 to $75.00 in a research note on Thursday, August 29th. BTIG Research increased their price objective on Okta from $98.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Guggenheim restated a “buy” rating and issued a $130.00 target price on shares of Okta in a research note on Wednesday, December 4th.

Insider Buying and Selling at Okta

In other Okta news, CRO Jonathan James Addison sold 9,850 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $77.63, for a total transaction of $764,655.50. Following the sale, the executive now owns 14,601 shares in the company, valued at $1,133,475.63. This trade represents a 40.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Larissa Schwartz sold 2,797 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $77.63, for a total value of $217,131.11. Following the completion of the transaction, the insider now owns 24,916 shares of the company’s stock, valued at $1,934,229.08. The trade was a 10.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 371,397 shares of company stock worth $28,539,445 over the last three months. 7.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Itau Unibanco Holding S.A. purchased a new stake in shares of Okta in the 3rd quarter valued at $25,000. Future Financial Wealth Managment LLC purchased a new stake in Okta during the third quarter valued at about $26,000. Blue Trust Inc. boosted its position in Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after buying an additional 191 shares during the period. Legacy Investment Solutions LLC bought a new position in shares of Okta during the third quarter valued at about $32,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of Okta in the second quarter worth about $47,000. 86.64% of the stock is currently owned by institutional investors.

Okta Trading Down 0.5 %

Shares of Okta stock opened at $83.19 on Friday. The firm has a market cap of $14.26 billion, a PE ratio of -237.69, a P/E/G ratio of 8.61 and a beta of 1.00. Okta has a 1 year low of $70.56 and a 1 year high of $114.50. 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 stock has a fifty day moving average price of $77.83 and a 200-day moving average price of $83.20.

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.