Okta, Inc. (NASDAQ:OKTA) Director Sells $12,090,000.00 in Stock

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 130,000 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $93.00, for a total value of $12,090,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Jacques Frederic Kerrest also recently made the following trade(s):

• On Thursday, January 23rd, Jacques Frederic Kerrest sold 390,000 shares of Okta stock. The stock was sold at an average price of $87.09, for a total value of $33,965,100.00.
• On Tuesday, January 21st, Jacques Frederic Kerrest sold 3,306 shares of Okta stock. The shares were sold at an average price of $88.85, for a total transaction of $293,738.10.
• On Monday, December 2nd, Jacques Frederic Kerrest sold 131,426 shares of Okta stock. The stock was sold at an average price of $80.68, for a total value of $10,603,449.68.

Okta Trading Up 0.5 %

Shares of NASDAQ:OKTA opened at $94.22 on Friday. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $114.50. The company has a market capitalization of $16.14 billion, a P/E ratio of -269.20, a price-to-earnings-growth ratio of 9.49 and a beta of 1.00. The company has a 50-day simple moving average of $84.07 and a 200 day simple moving average of $82.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Truist Financial reissued a “hold” rating and issued a $92.00 target price (up previously from $80.00) on shares of Okta in a research note on Wednesday, December 4th. Mizuho cut their price objective on Okta from $104.00 to $92.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. Wells Fargo & Company upped their target price on Okta from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Canaccord Genuity Group raised their target price on Okta from $82.00 to $94.00 and gave the company a “hold” rating in a report on Wednesday, December 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 equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $104.55.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of Jackson Hole Trust bought a new stake in shares of Okta during the 4th quarter valued at $25,000. CIBC Asset Management Inc raised its stake in Okta by 13.9% in the fourth quarter. CIBC Asset Management Inc now owns 6,433 shares of the company’s stock valued at $507,000 after purchasing an additional 783 shares in the last quarter. Sanctuary Advisors LLC lifted its position in Okta by 10.7% during the fourth quarter. Sanctuary Advisors LLC now owns 12,445 shares of the company’s stock worth $981,000 after purchasing an additional 1,201 shares during the period. J.W. Cole Advisors Inc. grew its stake in Okta by 10.4% during the fourth quarter. J.W. Cole Advisors Inc. now owns 3,172 shares of the company’s stock worth $250,000 after buying an additional 299 shares in the last quarter. Finally, Blue Zone Wealth Advisors LLC increased its holdings in Okta by 6.8% in the 4th quarter. Blue Zone Wealth Advisors LLC now owns 18,400 shares of the company’s stock valued at $1,450,000 after buying an additional 1,168 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

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.