Okta (NASDAQ:OKTA) PT Lowered to $98.00

Okta (NASDAQ:OKTA) had its target price dropped by investment analysts at BTIG Research from $128.00 to $98.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price objective indicates a potential upside of 30.63% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. DA Davidson cut their price target on shares of Okta from $100.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Westpark Capital reaffirmed a “buy” rating and issued a $140.00 target price on shares of Okta in a research report on Thursday, August 29th. Mizuho lowered their price target on Okta from $104.00 to $92.00 and set a “neutral” rating for the company in a research report on Thursday. Truist Financial cut their price objective on Okta from $95.00 to $80.00 and set a “hold” rating on the stock in a report on Thursday. Finally, Royal Bank of Canada decreased their target price on Okta from $125.00 to $101.00 and set an “outperform” rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Okta currently has an average rating of “Hold” and an average target price of $100.34.

Okta Trading Down 0.9 %

OKTA traded down $0.70 during trading on Thursday, hitting $75.02. The company’s stock had a trading volume of 1,887,378 shares, compared to its average volume of 1,938,720. Okta has a twelve month low of $65.04 and a twelve month high of $114.50. The stock has a market cap of $12.62 billion, a PE ratio of -45.00, a PEG ratio of 26.91 and a beta of 1.02. The firm’s 50 day moving average price is $81.03 and its 200-day moving average price is $89.60. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.29. The firm had revenue of $646.00 million for the quarter, compared to the consensus estimate of $632.24 million. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. On average, analysts expect that Okta will post 0.12 earnings per share for the current year.

Insider Transactions at Okta

In other Okta news, CRO Jonathan James Addison sold 9,850 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $77.63, for a total transaction of $764,655.50. Following the completion of the transaction, the executive now directly owns 14,601 shares of the company’s stock, valued at approximately $1,133,475.63. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Todd Mckinnon sold 200,512 shares of Okta stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $75.21, for a total value of $15,080,507.52. Following the transaction, the chief executive officer now owns 8,495 shares of the company’s stock, valued at $638,908.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CRO Jonathan James Addison sold 9,850 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $77.63, for a total transaction of $764,655.50. Following the sale, the executive now directly owns 14,601 shares of the company’s stock, valued at approximately $1,133,475.63. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 523,676 shares of company stock valued at $44,592,544. Company insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OKTA. City State Bank boosted its stake in shares of Okta by 160.0% during the 1st quarter. City State Bank now owns 260 shares of the company’s stock worth $27,000 after acquiring an additional 160 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Okta by 71.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after purchasing an additional 142 shares during the period. Future Financial Wealth Managment LLC purchased a new position in Okta in the 3rd quarter worth about $26,000. First Command Advisory Services Inc. purchased a new position in Okta in the 2nd quarter worth about $47,000. Finally, nVerses Capital LLC acquired a new stake in Okta during the 2nd quarter worth about $47,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

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.