Okta, Inc. (NASDAQ:OKTA) Receives Average Rating of “Hold” from Brokerages

Okta, Inc. (NASDAQ:OKTA) has earned a consensus rating of “Hold” from the thirty-two brokerages that are covering the company, MarketBeat Ratings reports. One 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. The average twelve-month target price among analysts that have covered the stock in the last year is $105.45.

A number of research firms have recently weighed in on OKTA. Mizuho raised their price target on shares of Okta from $100.00 to $110.00 and gave the company a “neutral” rating in a report on Wednesday. Barclays raised their target price on shares of Okta from $81.00 to $96.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. KeyCorp upped their price target on Okta from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday. Canaccord Genuity Group raised their price objective on Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Finally, Morgan Stanley raised Okta from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $92.00 to $97.00 in a research report on Monday, December 2nd.

Okta Price Performance

Shares of OKTA stock opened at $96.29 on Friday. The stock’s 50-day moving average is $87.42 and its 200 day moving average is $82.33. 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 company has a market cap of $16.50 billion, a P/E ratio of -275.11, a PEG ratio of 6.58 and a beta of 1.03.

Insider Activity

In related news, Director Jacques Frederic Kerrest sold 390,000 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $87.09, for a total value of $33,965,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Larissa Schwartz sold 2,740 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $97.59, for a total transaction of $267,396.60. Following the transaction, the insider now directly owns 22,125 shares in the company, valued at approximately $2,159,178.75. The trade was a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 980,908 shares of company stock worth $85,025,665 over the last three months. 7.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Okta

Hedge funds have recently made changes to their positions in the company. Bank of Jackson Hole Trust acquired a new stake in Okta during the 4th quarter worth $25,000. Itau Unibanco Holding S.A. purchased a new stake in Okta during the 3rd quarter valued at about $25,000. Future Financial Wealth Managment LLC acquired a new stake in Okta in the 3rd quarter valued at about $26,000. Blue Trust Inc. lifted its stake in Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after purchasing an additional 191 shares in the last quarter. Finally, Legacy Investment Solutions LLC acquired a new position in shares of Okta during the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds 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.