Brokerages Set Okta, Inc. (NASDAQ:OKTA) Target Price at $104.45

Shares of Okta, Inc. (NASDAQ:OKTA) have received a consensus rating of “Hold” from the thirty-two analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, fifteen have issued a hold recommendation and sixteen have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $104.45.

Several research firms have weighed in on OKTA. BMO Capital Markets raised their price objective on shares of Okta from $103.00 to $105.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. DA Davidson boosted their price objective on shares of Okta from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Susquehanna upped their price objective on Okta from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Canaccord Genuity Group boosted their target price on Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Finally, Canaccord Genuity Group raised their price target on Okta from $82.00 to $94.00 and gave the company a “hold” rating in a report on Wednesday, December 4th.

Insider Transactions at Okta

In other news, insider Larissa Schwartz sold 2,797 shares of Okta stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $77.63, for a total transaction of $217,131.11. Following the completion of the transaction, the insider now directly owns 24,916 shares in the company, valued at approximately $1,934,229.08. The trade was a 10.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Jonathan James Addison sold 9,850 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $77.63, for a total value of $764,655.50. Following the sale, the executive now directly owns 14,601 shares of the company’s stock, valued at $1,133,475.63. This represents a 40.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 604,425 shares of company stock worth $47,719,980 in the last ninety days. Insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On Okta

A number of institutional investors have recently made changes to their positions in the company. Marshall Wace LLP boosted its stake in Okta by 117.4% in the 2nd quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock valued at $212,841,000 after purchasing an additional 1,227,890 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Okta during the third quarter worth $49,373,000. Eminence Capital LP boosted its position in shares of Okta by 18.1% in the second quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock valued at $186,225,000 after acquiring an additional 305,381 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Okta by 232.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company’s stock valued at $29,479,000 after acquiring an additional 277,084 shares during the period. Finally, Truist Financial Corp grew its stake in shares of Okta by 62.5% in the second quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock valued at $48,870,000 after acquiring an additional 200,770 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

Okta Trading Down 0.2 %

OKTA stock opened at $83.02 on Friday. 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 stock has a market capitalization of $14.23 billion, a price-to-earnings ratio of -237.20, a P/E/G ratio of 8.61 and a beta of 1.00. The business has a fifty day moving average price of $78.16 and a 200 day moving average price of $83.20. Okta has a fifty-two week low of $70.56 and a fifty-two week high of $114.50.

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.