Okta, Inc. (NASDAQ:OKTA) CFO Brett Tighe Sells 5,000 Shares

Okta, Inc. (NASDAQ:OKTA) CFO Brett Tighe sold 5,000 shares of the firm’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $94.56, for a total transaction of $472,800.00. Following the completion of the transaction, the chief financial officer now owns 102,533 shares in the company, valued at $9,695,520.48. The trade was a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Thursday, January 23rd, Brett Tighe sold 5,000 shares of Okta stock. The shares were sold at an average price of $87.29, for a total value of $436,450.00.
• 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 Trading Down 0.3 %

OKTA stock traded down $0.24 during midday trading on Thursday, reaching $93.76. The stock had a trading volume of 2,280,068 shares, compared to its average volume of 2,626,775. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $114.50. The business has a fifty day simple moving average of $83.35 and a two-hundred day simple moving average of $82.15. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The firm has a market cap of $16.07 billion, a price-to-earnings ratio of -267.89, a PEG ratio of 8.95 and a beta of 1.00.

Institutional Investors Weigh In On Okta

Institutional investors have recently made changes to their positions in the stock. Stephens Inc. AR grew its position in shares of Okta by 5.0% during the 4th quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock worth $260,000 after buying an additional 157 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Okta by 2.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock valued at $605,000 after purchasing an additional 180 shares during the period. Bleakley Financial Group LLC raised its holdings in Okta by 4.6% in the third quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock worth $306,000 after purchasing an additional 182 shares during the period. Creative Financial Designs Inc. ADV boosted its position in shares of Okta by 12.4% during the third quarter. Creative Financial Designs Inc. ADV now owns 1,704 shares of the company’s stock worth $127,000 after purchasing an additional 188 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after buying an additional 191 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OKTA has been the subject of several research reports. Morgan Stanley raised Okta from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $92.00 to $97.00 in a research report on Monday, December 2nd. Wells Fargo & Company raised their price target on shares of Okta from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Needham & Company LLC upped their price objective on shares of Okta from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Westpark Capital reaffirmed a “buy” rating and issued a $140.00 price target on shares of Okta in a report on Wednesday, December 4th. Finally, JMP Securities reiterated a “market perform” rating on shares of Okta in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $104.55.

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.