Brokerages Set Okta, Inc. (NASDAQ:OKTA) Price Target at $104.45

Shares of Okta, Inc. (NASDAQ:OKTA) have received a consensus rating of “Hold” from the thirty-two ratings firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation and sixteen have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $104.61.

A number of equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft cut Okta from a “buy” rating to a “hold” rating and cut their target price for the company from $115.00 to $85.00 in a research note on Tuesday, November 12th. Stifel Nicolaus boosted their target price on shares of Okta from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. BMO Capital Markets raised their price target on shares of Okta from $103.00 to $105.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Robert W. Baird lifted their target price on Okta from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Finally, Canaccord Genuity Group increased their price target on Okta from $82.00 to $94.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th.

Okta Stock Up 1.9 %

NASDAQ:OKTA opened at $87.29 on Tuesday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The stock has a 50 day moving average of $81.05 and a 200-day moving average of $82.40. The firm has a market capitalization of $14.96 billion, a PE ratio of -249.40, a price-to-earnings-growth ratio of 8.52 and a beta of 1.00. Okta has a 52 week low of $70.56 and a 52 week high of $114.50.

Insider Transactions at Okta

In other news, Director Jacques Frederic Kerrest sold 131,426 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was 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 owns 1,622 shares in the company, valued at approximately $130,862.96. This represents a 98.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Larissa Schwartz sold 2,791 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $71.50, for a total value of $199,556.50. Following the completion of the transaction, the insider now directly owns 22,125 shares in the company, valued at $1,581,937.50. The trade was a 11.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 369,949 shares of company stock worth $30,201,213 in the last 90 days. 7.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Okta

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. bought a new stake in shares of Okta during the 3rd quarter worth $25,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Okta in the third quarter valued at about $26,000. Blue Trust Inc. increased its stake in shares of Okta by 105.5% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after purchasing an additional 191 shares during the period. Legacy Investment Solutions LLC bought a new position in shares of Okta in the third quarter worth about $32,000. Finally, Modus Advisors LLC bought a new stake in Okta during the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

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.