Okta, Inc. (NASDAQ:OKTA) CFO Sells $472,800.00 in Stock

Okta, Inc. (NASDAQ:OKTA) CFO Brett Tighe sold 5,000 shares of Okta stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $94.56, for a total transaction of $472,800.00. Following the transaction, the chief financial officer now directly owns 102,533 shares in the company, valued at $9,695,520.48. This represents a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, January 23rd, Brett Tighe sold 5,000 shares of Okta stock. The shares were sold at an average price of $87.29, for a total value of $436,450.00.
• On Tuesday, January 21st, Brett Tighe sold 5,000 shares of Okta stock. The stock was sold at an average price of $89.00, for a total transaction of $445,000.00.

Okta Stock Performance

Shares of Okta stock opened at $94.22 on Friday. The stock has a market cap of $16.14 billion, a price-to-earnings ratio of -269.20, a PEG ratio of 9.49 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The firm’s 50-day moving average is $84.07 and its 200 day moving average is $82.07. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $114.50.

Analyst Upgrades and Downgrades

OKTA has been the topic of a number of research reports. Guggenheim reaffirmed a “buy” rating and set a $130.00 price objective on shares of Okta in a report on Wednesday, December 4th. Susquehanna upped their target price on Okta from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Piper Sandler lifted their price objective on shares of Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. KeyCorp upgraded shares of Okta from a “sector weight” rating to an “overweight” rating and set a $115.00 price target on the stock in a research report on Thursday, December 19th. Finally, Citigroup increased their target price on Okta from $95.00 to $100.00 and gave the company a “neutral” rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Okta currently has an average rating of “Hold” and an average target price of $104.55.

Institutional Investors Weigh In On Okta

Several institutional investors have recently modified their holdings of OKTA. Itau Unibanco Holding S.A. purchased a new stake in Okta during the third quarter valued at $25,000. Bank of Jackson Hole Trust bought a new position in shares of Okta in the fourth quarter worth approximately $25,000. Future Financial Wealth Managment LLC purchased a new stake in Okta in the 3rd quarter worth $26,000. Blue Trust Inc. raised its stake in Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after purchasing an additional 191 shares during the period. Finally, Legacy Investment Solutions LLC purchased a new position in shares of Okta in the third quarter worth $32,000. 86.64% of the stock is 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.