Okta, Inc. (NASDAQ:OKTA) CFO Brett Tighe Sells 5,000 Shares

Okta, Inc. (NASDAQ:OKTA) CFO Brett Tighe sold 5,000 shares of Okta stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $87.29, for a total transaction of $436,450.00. Following the sale, the chief financial officer now directly owns 107,533 shares of the company’s stock, valued at $9,386,555.57. This represents a 4.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Brett Tighe also recently made the following trade(s):

• On Tuesday, January 21st, Brett Tighe sold 5,000 shares of Okta stock. The shares were sold at an average price of $89.00, for a total value of $445,000.00.

Okta Trading Up 2.3 %

Shares of OKTA stock opened at $90.90 on Tuesday. The stock has a 50 day simple moving average of $82.54 and a 200 day simple moving average of $82.07. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $114.50. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The stock has a market cap of $15.58 billion, a P/E ratio of -259.71, a price-to-earnings-growth ratio of 8.95 and a beta of 1.00.

Institutional Trading of Okta

Institutional investors and hedge funds have recently made changes to their positions in the company. Greenwood Capital Associates LLC bought a new position in shares of Okta in the 4th quarter valued at $209,000. GPS Wealth Strategies Group LLC boosted its stake in Okta by 169.3% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 1,384 shares of the company’s stock valued at $109,000 after buying an additional 870 shares in the last quarter. Spire Wealth Management grew its position in Okta by 696.7% in the fourth quarter. Spire Wealth Management now owns 2,390 shares of the company’s stock valued at $188,000 after acquiring an additional 2,090 shares during the last quarter. Caprock Group LLC raised its stake in Okta by 6.5% during the fourth quarter. Caprock Group LLC now owns 4,032 shares of the company’s stock worth $318,000 after acquiring an additional 246 shares in the last quarter. Finally, Alta Wealth Advisors LLC lifted its holdings in shares of Okta by 67.4% in the fourth quarter. Alta Wealth Advisors LLC now owns 5,030 shares of the company’s stock worth $396,000 after acquiring an additional 2,025 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

OKTA has been the subject of a number of recent analyst reports. Susquehanna upped their price objective on shares of Okta from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. DA Davidson raised their price target on Okta from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group boosted their price objective on Okta from $97.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Barclays raised their target price 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. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $101.00 price objective on shares of Okta in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $104.55.

About Okta

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.