Okta (NASDAQ:OKTA) Price Target Raised to $135.00

Okta (NASDAQ:OKTA) had its price objective lifted by KeyCorp from $125.00 to $135.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also recently weighed in on OKTA. Canaccord Genuity Group raised their price objective on Okta from $94.00 to $100.00 and gave the company a “hold” rating in a report on Tuesday. Westpark Capital reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Okta in a research note on Friday, February 28th. Robert W. Baird lifted their target price on shares of Okta from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. BMO Capital Markets upped their price target on shares of Okta from $103.00 to $105.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler lifted their price objective on Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $113.10.

Okta Stock Performance

NASDAQ OKTA opened at $111.22 on Tuesday. Okta has a 52-week low of $70.56 and a 52-week high of $116.96. The company has a fifty day moving average of $90.54 and a 200-day moving average of $82.70. The company has a market capitalization of $19.06 billion, a P/E ratio of -317.77, a P/E/G ratio of 6.42 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

Insider Buying and Selling

In related news, Director Jacques Frederic Kerrest sold 390,000 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $87.09, for a total value of $33,965,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Todd Mckinnon sold 233,028 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $82.31, for a total value of $19,180,534.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 979,482 shares of company stock worth $88,072,216. Insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of OKTA. Itau Unibanco Holding S.A. purchased a new stake in shares of Okta in the 3rd quarter valued at approximately $25,000. Bank of Jackson Hole Trust purchased a new position in shares of Okta during the 4th quarter worth approximately $25,000. Legacy Investment Solutions LLC acquired a new stake in Okta in the 3rd quarter valued at approximately $32,000. TD Private Client Wealth LLC raised its position in Okta by 3,507.7% in the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock valued at $37,000 after purchasing an additional 456 shares during the period. Finally, University of Texas Texas AM Investment Management Co. acquired a new position in Okta during the fourth quarter worth $40,000. 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.