BMO Capital Markets Increases Okta (NASDAQ:OKTA) Price Target to $130.00

Okta (NASDAQ:OKTA) had its target price lifted by analysts at BMO Capital Markets from $105.00 to $130.00 in a research note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ target price points to a potential upside of 15.62% from the stock’s current price.

Several other brokerages have also commented on OKTA. Needham & Company LLC restated a “buy” rating and set a $115.00 target price on shares of Okta in a research report on Tuesday, March 4th. JMP Securities restated a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. Royal Bank of Canada raised their price objective on shares of Okta from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 4th. Susquehanna boosted their target price on shares of Okta from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Finally, Guggenheim restated a “buy” rating and issued a $130.00 price target on shares of Okta in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $113.90.

Okta Price Performance

Shares of NASDAQ OKTA opened at $112.44 on Monday. 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 company has a market capitalization of $19.27 billion, a PE ratio of -321.26, a P/E/G ratio of 6.42 and a beta of 1.09. The firm has a fifty day simple moving average of $91.72 and a 200 day simple moving average of $82.79. Okta has a twelve month low of $70.56 and a twelve month high of $116.96.

Insider Buying and Selling at Okta

In other Okta news, CEO Todd Mckinnon sold 233,028 shares of Okta stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $82.31, for a total transaction of $19,180,534.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jacques Frederic Kerrest sold 130,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $105.00, for a total transaction of $13,650,000.00. The disclosure for this sale can be found here. Insiders have sold 979,482 shares of company stock valued at $88,072,216 in the last 90 days. 7.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Fluent Financial LLC bought a new stake in Okta during the fourth quarter valued at $1,287,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Okta during the 4th quarter valued at about $8,680,000. Forum Financial Management LP bought a new stake in shares of Okta during the 4th quarter valued at about $333,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Okta during the fourth quarter worth about $40,000. Finally, PharVision Advisers LLC bought a new position in shares of Okta in the fourth quarter worth approximately $299,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

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.