Eric Robert Kelleher Sells 5,895 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) insider Eric Robert Kelleher sold 5,895 shares of Okta stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $113.75, for a total transaction of $670,556.25. Following the completion of the transaction, the insider now directly owns 9,828 shares in the company, valued at $1,117,935. This represents a 37.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Okta Trading Up 1.0 %

NASDAQ:OKTA opened at $114.08 on Thursday. The company’s 50 day moving average is $96.35 and its 200-day moving average is $83.87. 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 12 month low of $70.56 and a 12 month high of $116.96. The firm has a market cap of $19.80 billion, a price-to-earnings ratio of -325.94, a P/E/G ratio of 6.42 and a beta of 1.09.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OKTA. Paloma Partners Management Co acquired a new stake in shares of Okta in the third quarter valued at about $969,000. SBI Securities Co. Ltd. acquired a new stake in Okta in the 4th quarter worth $1,686,000. Stifel Financial Corp grew its position in 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 buying an additional 13,387 shares in the last quarter. Nordea Investment Management AB grew 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 worth $33,146,000 after purchasing an additional 382,190 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in 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 buying an additional 184,107 shares during the period. Institutional investors own 86.64% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on OKTA. JMP Securities restated a “market perform” rating on shares of Okta in a research report on Wednesday, December 4th. Stifel Nicolaus boosted their target price on Okta from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. UBS Group set a $135.00 price target on Okta in a research report on Tuesday, March 4th. BTIG Research restated a “buy” rating on shares of Okta in a report on Tuesday, March 4th. Finally, Piper Sandler raised their target price on shares of Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, Okta has an average rating of “Moderate Buy” and an average price target of $115.29.

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.