Okta, Inc. (NASDAQ:OKTA) Insider Sells $267,396.60 in Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 2,740 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $97.59, for a total value of $267,396.60. Following the completion of the sale, the insider now owns 22,125 shares in the company, valued at $2,159,178.75. This trade represents a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Larissa Schwartz also recently made the following trade(s):

• On Wednesday, January 22nd, Larissa Schwartz sold 2,704 shares of Okta stock. The shares were sold at an average price of $89.58, for a total transaction of $242,224.32.
• On Monday, December 30th, Larissa Schwartz sold 2,704 shares of Okta stock. The stock was sold at an average price of $80.50, for a total transaction of $217,672.00.

Okta Stock Up 2.0 %

Shares of NASDAQ OKTA opened at $100.26 on Friday. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $114.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market cap of $17.18 billion, a P/E ratio of -286.46, a P/E/G ratio of 6.58 and a beta of 1.03. The firm has a 50 day moving average price of $87.19 and a 200 day moving average price of $82.31.

Analyst Ratings Changes

Several brokerages have weighed in on OKTA. Barclays upped their price objective on shares of Okta from $81.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group increased 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. Mizuho lifted their price objective on Okta from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday. Piper Sandler increased their target price on Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company lifted their price target on Okta from $80.00 to $95.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $105.45.

Hedge Funds Weigh In On Okta

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Paloma Partners Management Co bought a new position in Okta during the third quarter worth about $969,000. Stifel Financial Corp raised its position in shares of Okta by 56.1% during the third quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock worth $2,770,000 after purchasing an additional 13,387 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Okta by 1,150.2% during the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after purchasing an additional 382,190 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Okta by 105.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock valued at $26,627,000 after purchasing an additional 184,107 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Okta by 7.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,547 shares of the company’s stock worth $8,813,000 after purchasing an additional 8,239 shares in the last quarter. 86.64% of the stock is owned by institutional investors.

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.