Insider Selling: Okta, Inc. (NASDAQ:OKTA) Insider Sells $242,224.32 in Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $89.58, for a total transaction of $242,224.32. Following the completion of the transaction, the insider now owns 23,311 shares in the company, valued at approximately $2,088,199.38. The trade was a 10.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 value of $217,672.00.
• On Monday, November 4th, Larissa Schwartz sold 2,791 shares of Okta stock. The shares were sold at an average price of $71.50, for a total value of $199,556.50.

Okta Price Performance

NASDAQ OKTA opened at $88.86 on Monday. The stock has a market cap of $15.23 billion, a price-to-earnings ratio of -253.89, a PEG ratio of 8.95 and a beta of 1.00. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $114.50. The company’s 50 day moving average is $82.18 and its two-hundred day moving average is $82.09. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06.

Institutional Trading of Okta

Institutional investors and hedge funds have recently modified their holdings of the company. Eminence Capital LP boosted its holdings in Okta by 18.1% in the 2nd quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock worth $186,225,000 after buying an additional 305,381 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Okta by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company’s stock worth $79,503,000 after acquiring an additional 17,950 shares during the period. Penserra Capital Management LLC grew its position in shares of Okta by 9.8% during the third quarter. Penserra Capital Management LLC now owns 767,962 shares of the company’s stock worth $57,089,000 after purchasing an additional 68,757 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Okta during the 3rd quarter valued at approximately $49,373,000. Finally, Truist Financial Corp lifted its holdings in Okta by 62.5% in the 2nd quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock worth $48,870,000 after purchasing an additional 200,770 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OKTA has been the subject of several recent research reports. Sanford C. Bernstein lowered their price objective on Okta from $129.00 to $124.00 and set an “outperform” rating for the company in a research report on Tuesday, December 17th. Stifel Nicolaus increased their price target on shares of Okta from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Morgan Stanley upgraded shares of Okta from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $92.00 to $97.00 in a research report on Monday, December 2nd. Piper Sandler increased their target price on shares of Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Needham & Company LLC boosted their price target on Okta from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Okta has an average rating of “Hold” and a consensus price target of $104.55.

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.