Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest Sells 130,000 Shares

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 130,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $105.00, for a total value of $13,650,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, February 5th, Jacques Frederic Kerrest sold 65,000 shares of Okta stock. The stock was sold at an average price of $97.50, for a total value of $6,337,500.00.
• On Tuesday, January 28th, Jacques Frederic Kerrest sold 130,000 shares of Okta stock. The stock was sold at an average price of $93.00, for a total value of $12,090,000.00.
• 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 stock was sold at an average price of $88.85, for a total value of $293,738.10.

Okta Trading Down 4.4 %

OKTA opened at $111.22 on Friday. The stock has a market cap of $19.06 billion, a PE ratio of -317.77, a PEG ratio of 6.42 and a beta of 1.09. 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 business has a 50 day moving average of $90.54 and a 200-day moving average of $82.70. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $116.96.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. BMO Capital Markets lifted their price target on Okta from $103.00 to $105.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Jefferies Financial Group lifted their price target on Okta from $90.00 to $110.00 and gave the company a “hold” rating in a research report on Tuesday. Scotiabank lifted their price target on Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a research report on Tuesday. Morgan Stanley upgraded Okta from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $92.00 to $97.00 in a research report on Monday, December 2nd. Finally, Oppenheimer lifted their price objective on Okta from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $113.10.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC raised its stake in Okta by 3,719.2% during the third quarter. International Assets Investment Management LLC now owns 9,739 shares of the company’s stock valued at $724,000 after buying an additional 9,484 shares during the last quarter. Stephens Inc. AR raised its stake in Okta by 19.2% during the third quarter. Stephens Inc. AR now owns 3,139 shares of the company’s stock valued at $233,000 after buying an additional 505 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in Okta by 37.5% during the third quarter. Harbor Capital Advisors Inc. now owns 7,031 shares of the company’s stock valued at $523,000 after buying an additional 1,916 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Okta by 232.0% during 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 buying an additional 277,084 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in Okta by 4.7% during the third quarter. Asset Management One Co. Ltd. now owns 144,382 shares of the company’s stock valued at $10,733,000 after buying an additional 6,537 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

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.