Insider Selling: Okta, Inc. (NASDAQ:OKTA) CFO Sells $436,450.00 in Stock

Okta, Inc. (NASDAQ:OKTA) CFO Brett Tighe sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $87.29, for a total transaction of $436,450.00. Following the sale, the chief financial officer now directly owns 107,533 shares of the company’s stock, valued at approximately $9,386,555.57. The trade was a 4.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Tuesday, January 21st, Brett Tighe sold 5,000 shares of Okta stock. The shares were sold at an average price of $89.00, for a total value of $445,000.00.

Okta Price Performance

NASDAQ OKTA opened at $94.00 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market cap of $16.11 billion, a price-to-earnings ratio of -268.57, a PEG ratio of 8.95 and a beta of 1.00. The business has a 50 day simple moving average of $83.35 and a 200 day simple moving average of $82.15. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $114.50.

Institutional Investors Weigh In On Okta

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. acquired a new position in Okta in the 3rd quarter worth $25,000. Future Financial Wealth Managment LLC acquired a new position in shares of Okta during the third quarter worth about $26,000. Blue Trust Inc. grew its holdings in shares of Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after buying an additional 191 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in Okta in the 3rd quarter valued at approximately $32,000. Finally, Modus Advisors LLC bought a new stake in Okta in the 4th quarter valued at approximately $44,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on OKTA shares. Needham & Company LLC raised their target price on Okta from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Westpark Capital reaffirmed a “buy” rating and issued a $140.00 target price on shares of Okta in a research note on Wednesday, December 4th. JMP Securities reissued a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. The Goldman Sachs Group upped their price objective on Okta from $97.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, BMO Capital Markets lifted their target price on Okta from $103.00 to $105.00 and gave the company a “market perform” rating 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 assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $104.55.

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.