Okta (NASDAQ:OKTA) Research Coverage Started at Stephens

Stephens started coverage on shares of Okta (NASDAQ:OKTA) in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. The brokerage issued an equal weight rating and a $127.00 target price on the stock.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. lifted their price target on Okta from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Westpark Capital restated a “buy” rating and issued a $140.00 price objective on shares of Okta in a research report on Friday, February 28th. Barclays increased their target price on Okta from $105.00 to $115.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Guggenheim restated a “buy” rating and set a $130.00 price objective on shares of Okta in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group increased their price objective on shares of Okta from $90.00 to $110.00 and gave the company a “hold” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $116.09.

Okta Stock Down 4.8 %

OKTA stock opened at $100.27 on Tuesday. Okta has a one year low of $70.56 and a one year high of $118.07. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The firm’s fifty day moving average is $101.58 and its 200 day moving average is $86.54. The firm has a market cap of $17.41 billion, a PE ratio of -286.49, a P/E/G ratio of 6.42 and a beta of 1.06.

Insider Transactions at Okta

In other news, CFO Brett Tighe sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total value of $445,000.00. Following the completion of the transaction, the chief financial officer now owns 112,533 shares of the company’s stock, valued at approximately $10,015,437. This trade represents a 4.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jacques Frederic Kerrest sold 3,306 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $88.85, for a total transaction of $293,738.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 761,197 shares of company stock worth $70,662,533. 7.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Jackson Hole Trust purchased a new position in shares of Okta in the 4th quarter valued at about $25,000. Itau Unibanco Holding S.A. purchased a new position in Okta in the third quarter worth approximately $25,000. Legacy Investment Solutions LLC purchased a new position in Okta in the third quarter worth approximately $32,000. TD Private Client Wealth LLC grew its holdings in Okta by 3,507.7% during the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock worth $37,000 after acquiring an additional 456 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Okta in the 4th quarter valued at approximately $40,000. 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.