Okta, Inc. (NASDAQ:OKTA) Director Sells $13,650,000.00 in Stock

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 130,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $105.00, for a total value of $13,650,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Jacques Frederic Kerrest also recently made the following trade(s):

• On Wednesday, February 5th, Jacques Frederic Kerrest sold 65,000 shares of Okta stock. The stock was sold at an average price of $97.50, for a total value of $6,337,500.00.
• On Tuesday, January 28th, Jacques Frederic Kerrest sold 130,000 shares of Okta stock. The stock was sold at an average price of $93.00, for a total value of $12,090,000.00.
• On Thursday, January 23rd, Jacques Frederic Kerrest sold 390,000 shares of Okta stock. The stock was sold at an average price of $87.09, for a total value of $33,965,100.00.
• On Tuesday, January 21st, Jacques Frederic Kerrest sold 3,306 shares of Okta stock. The shares were sold at an average price of $88.85, for a total value of $293,738.10.

Okta Stock Down 4.4 %

OKTA opened at $111.22 on Friday. The business’s fifty day simple moving average is $90.54 and its 200 day simple moving average is $82.70. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $116.96. The stock has a market cap of $19.06 billion, a PE ratio of -317.77, a P/E/G ratio of 6.42 and a beta of 1.09.

Institutional Trading of Okta

A number of institutional investors have recently modified their holdings of OKTA. Frank Rimerman Advisors LLC increased its stake in shares of Okta by 2.4% during the fourth quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock valued at $352,000 after purchasing an additional 105 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Okta by 1.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 7,873 shares of the company’s stock worth $620,000 after purchasing an additional 136 shares during the period. Stephens Inc. AR grew its position in Okta by 5.0% in the 4th quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock worth $260,000 after purchasing an additional 157 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in shares of Okta by 3.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,646 shares of the company’s stock worth $445,000 after acquiring an additional 171 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Okta by 2.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock worth $605,000 after acquiring an additional 180 shares during the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on OKTA shares. Royal Bank of Canada boosted their price target on Okta from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday. Guggenheim reissued a “buy” rating and set a $130.00 price target on shares of Okta in a research report on Wednesday, December 4th. Barclays upped their price target on Okta from $105.00 to $115.00 and gave the company an “equal weight” rating in a research report on Tuesday. Jefferies Financial Group upped their target price on Okta from $90.00 to $110.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, The Goldman Sachs Group upped their price target on Okta from $107.00 to $123.00 and gave the stock a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $113.10.

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.