Insider Selling: Okta, Inc. (NASDAQ:OKTA) Director Sells 130,000 Shares of Stock

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 130,000 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $93.00, for a total value of $12,090,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Jacques Frederic Kerrest also recently made the following trade(s):

• On Thursday, January 23rd, Jacques Frederic Kerrest sold 390,000 shares of Okta stock. The stock was sold at an average price of $87.09, for a total value of $33,965,100.00.
• On Tuesday, January 21st, Jacques Frederic Kerrest sold 3,306 shares of Okta stock. The shares were sold at an average price of $88.85, for a total value of $293,738.10.
• On Monday, December 2nd, Jacques Frederic Kerrest sold 131,426 shares of Okta stock. The shares were sold at an average price of $80.68, for a total value of $10,603,449.68.

Okta Stock Performance

Shares of Okta stock opened at $94.22 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of $84.07 and a two-hundred day moving average price of $82.20. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $114.50. The company has a market cap of $16.14 billion, a P/E ratio of -269.20, a PEG ratio of 9.49 and a beta of 1.00.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. BTIG Research raised their price objective on Okta from $98.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Wells Fargo & Company increased their target price on Okta from $80.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Canaccord Genuity Group increased their target price on Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. KeyCorp upgraded Okta from a “sector weight” rating to an “overweight” rating and set a $115.00 target price for the company in a report on Thursday, December 19th. Finally, Robert W. Baird increased their target price on Okta from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Okta currently has a consensus rating of “Hold” and a consensus price target of $104.55.

Institutional Trading of Okta

A number of large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its holdings in Okta by 1.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company’s stock worth $79,503,000 after acquiring an additional 17,950 shares during the period. Penserra Capital Management LLC grew its holdings in Okta by 9.8% during the 3rd quarter. Penserra Capital Management LLC now owns 767,962 shares of the company’s stock worth $57,089,000 after acquiring an additional 68,757 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Okta in the 3rd quarter valued at about $49,373,000. Allspring Global Investments Holdings LLC grew its stake in shares of Okta by 138.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company’s stock valued at $43,721,000 after buying an additional 322,201 shares during the period. Finally, Truist Financial Corp grew its stake in shares of Okta by 62.5% in the 2nd quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock valued at $48,870,000 after buying an additional 200,770 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

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.