Okta (NASDAQ:OKTA) Shares Unloaded Sen.

Senator (R-Florida) recently sold shares of Okta, Inc. (NASDAQ:OKTA). In a filing disclosed on February 21st, the Senator disclosed that they had sold between $50,001 and $100,000 in Okta stock on January 21st.

Senator also recently made the following trade(s):

• Purchased $50,001 – $100,000 in shares of Howmet Aerospace (NYSE:HWM) on 1/22/2025.
• Purchased $100,001 – $250,000 in shares of Applied Materials (NASDAQ:AMAT) on 1/22/2025.
• Purchased $50,001 – $100,000 in shares of Micron Technology (NASDAQ:MU) on 1/22/2025.

Okta Trading Down 2.6 %

Shares of OKTA opened at $92.75 on Monday. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $114.50. The firm has a market cap of $15.89 billion, a price-to-earnings ratio of -265.00, a PEG ratio of 6.42 and a beta of 1.03. The firm has a 50 day moving average price of $88.64 and a 200-day moving average price of $82.51. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

Institutional Trading of Okta

Hedge funds have recently made changes to their positions in the stock. Forum Financial Management LP purchased a new position in Okta during the fourth quarter valued at $333,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Okta during the fourth quarter valued at $40,000. PharVision Advisers LLC purchased a new position in shares of Okta in the 4th quarter worth about $299,000. Woodline Partners LP bought a new position in Okta in the 4th quarter worth about $2,199,000. Finally, Vident Advisory LLC grew its position in Okta by 27.1% during the 4th quarter. Vident Advisory LLC now owns 111,463 shares of the company’s stock valued at $8,783,000 after purchasing an additional 23,752 shares during the last quarter. 86.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

OKTA has been the subject of several recent research reports. Canaccord Genuity Group boosted their price target on shares of Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. upgraded Okta from a “neutral” rating to an “overweight” rating and set a $100.00 price objective on the stock in a report on Monday, December 16th. Barclays increased their target price on Okta from $96.00 to $105.00 and gave the company an “equal weight” rating in a report on Thursday. The Goldman Sachs Group raised their price target on Okta from $97.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $115.00 price objective on shares of Okta in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Okta has a consensus rating of “Hold” and a consensus target price of $106.13.

Insider Buying and Selling at Okta

In other news, Director Jacques Frederic Kerrest sold 390,000 shares of the business’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Larissa Schwartz sold 2,704 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $80.50, for a total value of $217,672.00. Following the transaction, the insider now directly owns 24,462 shares in the company, valued at approximately $1,969,191. The trade was a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 980,908 shares of company stock worth $85,025,665. 7.00% of the stock is owned by corporate insiders.

About Senator

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.