Okta (NASDAQ:OKTA) Given New $100.00 Price Target at Jefferies Financial Group

Okta (NASDAQ:OKTA) had its price objective boosted by Jefferies Financial Group from $85.00 to $100.00 in a report published on Wednesday morning, Marketbeat.com reports. The brokerage currently has a hold rating on the stock.

Several other research firms have also commented on OKTA. Canaccord Genuity Group decreased their price target on shares of Okta from $90.00 to $82.00 and set a “hold” rating for the company in a research report on Friday, October 18th. The Goldman Sachs Group decreased their price objective on shares of Okta from $113.00 to $97.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. UBS Group decreased their price objective on shares of Okta from $120.00 to $108.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. BMO Capital Markets increased their price objective on shares of Okta from $100.00 to $103.00 and gave the company a “market perform” rating in a research report on Thursday, August 29th. Finally, Barclays increased their price objective on shares of Okta from $81.00 to $96.00 and gave the company an “equal weight” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Okta presently has a consensus rating of “Hold” and a consensus target price of $103.07.

Okta Stock Performance

OKTA stock opened at $86.11 on Wednesday. The firm has a market cap of $14.63 billion, a price-to-earnings ratio of -246.03, a PEG ratio of 19.79 and a beta of 1.00. The firm has a 50-day simple moving average of $75.15 and a two-hundred day simple moving average of $84.27. Okta has a one year low of $70.56 and a one year high of $114.50. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83.

Insider Transactions at Okta

In other news, insider Larissa Schwartz sold 2,790 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.01, for a total transaction of $206,487.90. Following the sale, the insider now owns 27,713 shares of the company’s stock, valued at $2,051,039.13. This trade represents a 9.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jacques Frederic Kerrest sold 131,426 shares of Okta stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $80.68, for a total transaction of $10,603,449.68. Following the completion of the sale, the director now directly owns 1,622 shares in the company, valued at $130,862.96. This represents a 98.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 607,215 shares of company stock valued at $46,304,810 in the last 90 days. 7.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Okta

A number of institutional investors have recently added to or reduced their stakes in OKTA. Itau Unibanco Holding S.A. purchased a new stake in Okta in the 3rd quarter valued at about $25,000. Future Financial Wealth Managment LLC acquired a new position in Okta in the 3rd quarter valued at about $26,000. Blue Trust Inc. grew its position in Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after acquiring an additional 191 shares in the last quarter. Legacy Investment Solutions LLC acquired a new position in Okta in the 3rd quarter valued at about $32,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after buying an additional 142 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

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.