Larissa Schwartz Sells 2,740 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 2,740 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $97.59, for a total transaction of $267,396.60. Following the transaction, the insider now owns 22,125 shares in the company, valued at approximately $2,159,178.75. This trade represents a 11.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Larissa Schwartz also recently made the following trade(s):

• On Wednesday, January 22nd, Larissa Schwartz sold 2,704 shares of Okta stock. The shares were sold at an average price of $89.58, for a total transaction of $242,224.32.
• On Monday, December 30th, Larissa Schwartz sold 2,704 shares of Okta stock. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00.

Okta Trading Down 4.0 %

Shares of NASDAQ:OKTA opened at $96.29 on Friday. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $114.50. The firm has a market capitalization of $16.50 billion, a price-to-earnings ratio of -275.11, a price-to-earnings-growth ratio of 6.58 and a beta of 1.03. 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 business’s 50 day moving average price is $87.42 and its 200-day moving average price is $82.33.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Marshall Wace LLP lifted its position in shares of Okta by 35.5% during the 4th quarter. Marshall Wace LLP now owns 3,583,937 shares of the company’s stock valued at $282,414,000 after buying an additional 938,509 shares in the last quarter. Norges Bank acquired a new position in Okta in the 4th quarter valued at $234,992,000. Geode Capital Management LLC raised its stake in Okta by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 2,700,216 shares of the company’s stock valued at $212,385,000 after purchasing an additional 135,110 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Okta by 54.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,241,220 shares of the company’s stock valued at $97,808,000 after purchasing an additional 440,171 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Okta by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company’s stock valued at $87,903,000 after purchasing an additional 46,064 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on OKTA. Morgan Stanley upgraded shares of Okta from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $92.00 to $97.00 in a report on Monday, December 2nd. JPMorgan Chase & Co. upgraded shares of Okta from a “neutral” rating to an “overweight” rating and set a $100.00 price objective on the stock in a report on Monday, December 16th. JMP Securities restated a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 target price on shares of Okta in a research report on Tuesday, February 4th. Finally, Scotiabank dropped their target price on Okta from $96.00 to $94.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Okta currently has a consensus rating of “Hold” and an average target price of $105.45.

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.