Susquehanna Issues Positive Forecast for Okta (NASDAQ:OKTA) Stock Price

Okta (NASDAQ:OKTA) had its target price increased by Susquehanna from $85.00 to $95.00 in a research report report published on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has a neutral rating on the stock.

Other equities research analysts also recently issued research reports about the stock. UBS Group lowered their target price on shares of Okta from $120.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Scotiabank lowered their target price on shares of Okta from $104.00 to $92.00 and set a “sector perform” rating for the company in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft cut shares of Okta from a “buy” rating to a “hold” rating and reduced their price target for the company from $115.00 to $85.00 in a report on Tuesday, November 12th. Bank of America cut shares of Okta from a “buy” rating to an “underperform” rating and reduced their price target for the company from $135.00 to $75.00 in a report on Thursday, August 29th. Finally, Stifel Nicolaus reduced their price target on shares of Okta from $122.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $103.07.

Okta Stock Up 5.4 %

Shares of NASDAQ:OKTA opened at $86.11 on Wednesday. Okta 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 0.18, a quick ratio of 1.83 and a current ratio of 1.83. The company has a market capitalization of $14.63 billion, a PE ratio of -246.03, a PEG ratio of 19.79 and a beta of 1.00. The company has a 50 day moving average price of $75.15 and a two-hundred day moving average price of $84.27.

Insider Activity

In other news, insider Larissa Schwartz sold 2,790 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $74.01, for a total value of $206,487.90. Following the transaction, the insider now directly owns 27,713 shares of the company’s stock, valued at $2,051,039.13. This represents a 9.15 % 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, CEO Todd Mckinnon sold 200,512 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $75.21, for a total transaction of $15,080,507.52. Following the transaction, the chief executive officer now directly owns 8,495 shares in the company, valued at approximately $638,908.95. This represents a 95.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 607,215 shares of company stock valued at $46,304,810 over the last ninety days. 7.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Okta

A number of hedge funds have recently bought and sold shares of the business. Caprock Group LLC increased its position in Okta by 4.7% during the second quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock worth $267,000 after acquiring an additional 129 shares during the period. National Bank of Canada FI increased its position in Okta by 11.0% during the second quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock worth $124,000 after acquiring an additional 130 shares during the period. EverSource Wealth Advisors LLC increased its position in Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after acquiring an additional 142 shares during the period. CWM LLC increased its position in Okta by 5.3% during the second quarter. CWM LLC now owns 2,910 shares of the company’s stock worth $272,000 after acquiring an additional 147 shares during the period. Finally, Bleakley Financial Group LLC increased its position in Okta by 4.6% during the third quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock worth $306,000 after acquiring an additional 182 shares during the period. 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.