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

Okta, Inc. (NASDAQ:OKTA) CFO Brett Tighe sold 5,000 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $94.76, for a total transaction of $473,800.00. Following the sale, the chief financial officer now owns 97,533 shares of the company’s stock, valued at approximately $9,242,227.08. This represents a 4.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Tuesday, January 28th, Brett Tighe sold 5,000 shares of Okta stock. The stock was sold at an average price of $94.56, for a total transaction of $472,800.00.
• On Thursday, January 23rd, Brett Tighe sold 5,000 shares of Okta stock. The stock was sold at an average price of $87.29, for a total transaction of $436,450.00.
• On Tuesday, January 21st, Brett Tighe sold 5,000 shares of Okta stock. The stock was sold at an average price of $89.00, for a total transaction of $445,000.00.

Okta Stock Performance

OKTA stock traded down $0.98 on Monday, hitting $93.24. The company had a trading volume of 1,990,065 shares, compared to its average volume of 2,600,667. Okta, Inc. has a 12-month low of $70.56 and a 12-month 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’s 50-day simple moving average is $84.07 and its 200 day simple moving average is $81.97. The stock has a market cap of $15.98 billion, a price-to-earnings ratio of -266.40, a P/E/G ratio of 9.52 and a beta of 1.03.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Westpark Capital reiterated a “buy” rating and set a $140.00 target price on shares of Okta in a report on Wednesday, December 4th. Susquehanna increased their price target on shares of Okta from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Piper Sandler increased their price target on shares of Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Robert W. Baird increased their price target on shares of Okta from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Finally, Guggenheim reissued a “buy” rating and issued a $130.00 price target on shares of Okta in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Okta has an average rating of “Hold” and a consensus price target of $104.55.

Institutional Investors Weigh In On Okta

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. purchased a new stake in Okta in the third quarter worth approximately $25,000. Bank of Jackson Hole Trust purchased a new stake in Okta in the fourth quarter worth approximately $25,000. Future Financial Wealth Managment LLC purchased a new stake in Okta in the third quarter worth approximately $26,000. Blue Trust Inc. boosted its stake in shares of Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after acquiring an additional 191 shares during the last quarter. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Okta during the 3rd quarter worth $32,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

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.