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

Okta, Inc. (NASDAQ:OKTA) CFO Brett Tighe sold 5,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $94.76, for a total value of $473,800.00. Following the completion of the sale, the chief financial officer now directly owns 97,533 shares of the company’s stock, valued at $9,242,227.08. The trade was a 4.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, January 28th, Brett Tighe sold 5,000 shares of Okta stock. The stock was sold at an average price of $94.56, for a total value of $472,800.00.
• On Thursday, January 23rd, Brett Tighe sold 5,000 shares of Okta stock. The stock was sold at an average price of $87.29, for a total transaction 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 transaction of $445,000.00.

Okta Stock Performance

OKTA opened at $94.41 on Wednesday. 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’s 50 day moving average is $84.76 and its 200-day moving average is $81.97. The stock has a market cap of $16.18 billion, a PE ratio of -269.74, a price-to-earnings-growth ratio of 9.52 and a beta of 1.03. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $114.50.

Analysts Set New Price Targets

Several analysts have recently weighed in on OKTA shares. Deutsche Bank Aktiengesellschaft downgraded Okta from a “buy” rating to a “hold” rating and lowered their target price for the company from $115.00 to $85.00 in a research note on Tuesday, November 12th. BMO Capital Markets lifted their price objective on Okta from $103.00 to $105.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $101.00 target price on shares of Okta in a research report on Wednesday, December 4th. KeyCorp raised shares of Okta from a “sector weight” rating to an “overweight” rating and set a $115.00 price target for the company in a research report on Thursday, December 19th. Finally, Susquehanna upped their price target on shares of Okta from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Okta presently has a consensus rating of “Hold” and an average target price of $104.55.

Institutional Trading of Okta

Several hedge funds have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. acquired a new position in shares of Okta during the third quarter valued at $25,000. Bank of Jackson Hole Trust bought a new position in Okta in the 4th quarter valued at about $25,000. Future Financial Wealth Managment LLC acquired a new position in Okta during the 3rd quarter valued at about $26,000. Blue Trust Inc. raised its position in shares of 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 in the last quarter. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Okta in the 3rd quarter worth approximately $32,000. Institutional investors own 86.64% of the company’s stock.

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.