Brokerages Set Okta, Inc. (NASDAQ:OKTA) Target Price at $104.55

Shares of Okta, Inc. (NASDAQ:OKTA) have been assigned a consensus recommendation of “Hold” from the thirty-two research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and sixteen have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $104.55.

A number of research firms have recently commented on OKTA. BTIG Research upped their price target on shares of Okta from $98.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Canaccord Genuity Group upped their target price 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. Susquehanna lifted their price target on shares of Okta from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Westpark Capital reissued a “buy” rating and issued a $140.00 price objective on shares of Okta in a research note on Wednesday, December 4th. Finally, BMO Capital Markets lifted their target price on Okta from $103.00 to $105.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

Insider Activity at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 65,000 shares of the stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $97.50, for a total transaction of $6,337,500.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Brett Tighe sold 5,000 shares of the business’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 completion of the transaction, the chief financial officer now directly owns 112,533 shares of the company’s stock, valued at approximately $10,015,437. This trade represents a 4.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 978,168 shares of company stock valued at $84,758,269 in the last ninety days. Company insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On Okta

Several hedge funds have recently bought and sold shares of the stock. Frank Rimerman Advisors LLC boosted its position in Okta by 2.4% during the fourth quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock worth $352,000 after purchasing an additional 105 shares in the last quarter. Stephens Inc. AR grew its stake in Okta by 5.0% in the 4th quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock valued at $260,000 after acquiring an additional 157 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Okta by 2.3% in 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 in the last quarter. Bleakley Financial Group LLC raised 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. Finally, Great Lakes Advisors LLC lifted its holdings in Okta by 2.7% during the fourth quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company’s stock valued at $557,000 after purchasing an additional 184 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Stock Performance

Shares of Okta stock opened at $97.66 on Friday. 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 stock’s fifty day moving average is $86.33 and its two-hundred day moving average is $82.06. Okta has a 52 week low of $70.56 and a 52 week high of $114.50. The company has a market capitalization of $16.73 billion, a PE ratio of -279.03, a price-to-earnings-growth ratio of 6.58 and a beta of 1.03.

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.