Okta, Inc. (NASDAQ:OKTA) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Okta, Inc. (NASDAQ:OKTA) have received an average rating of “Moderate Buy” from the thirty-two analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $115.29.

OKTA has been the topic of a number of recent research reports. Susquehanna lifted their price objective on shares of Okta from $95.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Wells Fargo & Company boosted their price target on shares of Okta from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. KeyCorp raised their price objective on Okta from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. The Goldman Sachs Group lifted their target price on Okta from $107.00 to $123.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Finally, Mizuho raised Okta from a “neutral” rating to an “outperform” rating and increased their price target for the company from $110.00 to $127.00 in a research report on Tuesday, March 4th.

Insider Buying and Selling

In other news, insider Eric Robert Kelleher sold 5,895 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $113.75, for a total transaction of $670,556.25. Following the completion of the sale, the insider now directly owns 9,828 shares in the company, valued at approximately $1,117,935. This represents a 37.49 % 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 11,552 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total value of $1,317,967.68. Following the completion of the transaction, the insider now owns 22,125 shares in the company, valued at $2,524,241.25. The trade was a 34.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 763,901 shares of company stock valued at $70,880,205. 7.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Okta

Institutional investors and hedge funds have recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in shares of Okta in the 3rd quarter valued at approximately $25,000. Bank of Jackson Hole Trust acquired a new position in Okta during the fourth quarter valued at approximately $25,000. Legacy Investment Solutions LLC bought a new stake in Okta during the third quarter worth $32,000. TD Private Client Wealth LLC boosted its holdings in shares of Okta by 3,507.7% in the 4th 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 in the last quarter. Finally, University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Okta in the 4th quarter valued at $40,000. Institutional investors own 86.64% of the company’s stock.

Okta Stock Down 2.9 %

Shares of Okta stock opened at $107.99 on Friday. The firm has a market cap of $18.75 billion, a PE ratio of -308.54, a P/E/G ratio of 6.42 and a beta of 1.09. The business’s 50 day simple moving average is $100.33 and its 200 day simple moving average is $85.78. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. Okta has a 52-week low of $70.56 and a 52-week high of $118.07.

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.