Okta (NASDAQ:OKTA) Given New $115.00 Price Target at Barclays

Okta (NASDAQ:OKTA) had its price objective upped by equities research analysts at Barclays from $105.00 to $115.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential upside of 31.94% from the company’s current price.

OKTA has been the topic of a number of other research reports. Stifel Nicolaus increased their price objective on shares of Okta from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $101.00 target price on shares of Okta in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft lowered Okta from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $115.00 to $85.00 in a research note on Tuesday, November 12th. Piper Sandler upped their target price on Okta from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Finally, Robert W. Baird raised their target price on shares of 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, thirteen have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.60.

Okta Stock Down 3.7 %

Shares of NASDAQ:OKTA opened at $87.16 on Tuesday. 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 company’s fifty day moving average is $89.37 and its two-hundred day moving average is $82.38. Okta has a 1-year low of $70.56 and a 1-year high of $114.50. The stock has a market capitalization of $14.94 billion, a price-to-earnings ratio of -249.03, a price-to-earnings-growth ratio of 6.42 and a beta of 1.03.

Insiders Place Their Bets

In other Okta news, Director Jacques Frederic Kerrest sold 65,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $97.50, for a total value of $6,337,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $80.50, for a total value of $217,672.00. Following the completion of the sale, the insider now directly owns 24,462 shares of the company’s stock, valued at approximately $1,969,191. This trade represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 849,482 shares of company stock valued at $74,422,216 in the last three months. 7.00% of the stock is currently owned by insiders.

Institutional Trading of Okta

A number of institutional investors have recently modified their holdings of OKTA. Bank of Jackson Hole Trust purchased a new position in Okta in the 4th quarter valued at approximately $25,000. Itau Unibanco Holding S.A. purchased a new position in shares of Okta in the third quarter valued at $25,000. Legacy Investment Solutions LLC purchased a new position in shares of Okta in the third quarter valued at $32,000. TD Private Client Wealth LLC lifted its holdings in Okta by 3,507.7% during the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock worth $37,000 after purchasing an additional 456 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new position in Okta in the 4th quarter worth about $40,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

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.