Okta, Inc. (NASDAQ:OKTA) Director Sells $6,337,500.00 in Stock

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 65,000 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $97.50, for a total transaction of $6,337,500.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Jacques Frederic Kerrest also recently made the following trade(s):

• On Tuesday, January 28th, Jacques Frederic Kerrest sold 130,000 shares of Okta stock. The stock was sold at an average price of $93.00, for a total transaction of $12,090,000.00.
• On Thursday, January 23rd, Jacques Frederic Kerrest sold 390,000 shares of Okta stock. The shares were sold at an average price of $87.09, for a total transaction of $33,965,100.00.
• On Tuesday, January 21st, Jacques Frederic Kerrest sold 3,306 shares of Okta stock. The shares were sold at an average price of $88.85, for a total transaction of $293,738.10.
• On Monday, December 2nd, Jacques Frederic Kerrest sold 131,426 shares of Okta stock. The shares were sold at an average price of $80.68, for a total transaction of $10,603,449.68.

Okta Stock Performance

OKTA traded down $0.47 on Friday, hitting $97.00. The company had a trading volume of 1,974,338 shares, compared to its average volume of 2,536,202. The stock has a market cap of $16.62 billion, a price-to-earnings ratio of -277.14, a price-to-earnings-growth ratio of 9.52 and a beta of 1.03. 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 company’s fifty day moving average price is $85.60 and its 200 day moving average price is $82.19. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $114.50.

Analyst Ratings Changes

Several brokerages have recently weighed in on OKTA. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 target price on shares of Okta in a report on Tuesday. The Goldman Sachs Group upped 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. KeyCorp upgraded Okta from a “sector weight” rating to an “overweight” rating and set a $115.00 target price for the company in a research note on Thursday, December 19th. JPMorgan Chase & Co. upgraded Okta from a “neutral” rating to an “overweight” rating and set a $100.00 target price on the stock in a report on Monday, December 16th. Finally, Stifel Nicolaus raised their price objective on Okta from $108.00 to $115.00 and gave the company a “buy” rating in a research note 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $104.55.

Institutional Trading of Okta

Large investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in Okta by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company’s stock worth $87,903,000 after buying an additional 46,064 shares during the period. Penserra Capital Management LLC increased its stake in Okta by 9.8% in the third quarter. Penserra Capital Management LLC now owns 767,962 shares of the company’s stock valued at $57,089,000 after acquiring an additional 68,757 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Okta during the 3rd quarter worth approximately $49,373,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Okta by 138.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company’s stock valued at $43,721,000 after acquiring an additional 322,201 shares during the period. Finally, Glenmede Trust Co. NA grew its holdings in shares of Okta by 17.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 510,658 shares of the company’s stock worth $37,962,000 after purchasing an additional 76,588 shares during the last quarter. 86.64% of the stock is owned by institutional investors.

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.