Okta (NASDAQ:OKTA) Given New $130.00 Price Target at BMO Capital Markets

Okta (NASDAQ:OKTA) had its price target hoisted by BMO Capital Markets from $105.00 to $130.00 in a research report issued on Monday,Briefing.com Automated Import reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ target price suggests a potential upside of 15.62% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Canaccord Genuity Group boosted their target price on Okta from $94.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, March 4th. Citigroup boosted their price objective on shares of Okta from $100.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 target price on shares of Okta in a report on Tuesday, March 4th. Susquehanna lifted their target price on shares of Okta from $95.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. upped their price target on shares of Okta from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Okta currently has an average rating of “Moderate Buy” and a consensus target price of $113.90.

Okta Trading Up 1.1 %

NASDAQ OKTA opened at $112.44 on Monday. The stock’s 50-day simple moving average is $91.72 and its two-hundred day simple moving average is $82.79. Okta has a twelve month low of $70.56 and a twelve month high of $116.96. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $19.27 billion, a price-to-earnings ratio of -321.26, a PEG ratio of 6.42 and a beta of 1.09.

Insider Transactions at Okta

In other Okta news, CFO Brett Tighe sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total value of $445,000.00. Following the sale, the chief financial officer now owns 112,533 shares in the company, valued at approximately $10,015,437. This represents a 4.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Larissa Schwartz sold 2,704 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00. Following the transaction, the insider now directly owns 24,462 shares of the company’s stock, valued at $1,969,191. This represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 979,482 shares of company stock valued at $88,072,216. Corporate insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OKTA. Fluent Financial LLC bought a new stake in Okta in the fourth quarter worth $1,287,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Okta in the 4th quarter worth about $8,680,000. Forum Financial Management LP bought a new position in Okta in the 4th quarter worth about $333,000. University of Texas Texas AM Investment Management Co. bought a new position in Okta in the 4th quarter worth about $40,000. Finally, PharVision Advisers LLC purchased a new stake in Okta during the 4th quarter valued at about $299,000. Institutional investors own 86.64% of the company’s stock.

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.