Okta (NASDAQ:OKTA) had its target price raised by Mizuho from $245.00 to $255.00 in a research note issued to investors on Thursday morning, The Fly reports. They currently have a neutral rating on the stock.
Other research analysts also recently issued reports about the company. Guggenheim boosted their price objective on Okta from $200.00 to $230.00 and gave the company a buy rating in a research note on Friday, August 28th. BidaskClub raised Okta from a buy rating to a strong-buy rating in a research note on Friday, October 9th. Citigroup boosted their price objective on Okta from $236.00 to $266.00 in a research note on Friday, August 28th. BTIG Research downgraded Okta from a buy rating to a neutral rating in a research note on Monday, June 29th. Finally, Robert W. Baird reaffirmed a hold rating on shares of Okta in a research report on Friday, August 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Okta currently has an average rating of Buy and a consensus target price of $208.60.
Shares of OKTA opened at $243.95 on Thursday. Okta has a 12 month low of $88.66 and a 12 month high of $251.18. The stock’s 50-day moving average price is $214.06 and its two-hundred day moving average price is $191.37. The company has a quick ratio of 5.07, a current ratio of 5.07 and a debt-to-equity ratio of 2.47.
In other Okta news, Director Benjamin A. Horowitz sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 14th. The stock was sold at an average price of $244.77, for a total transaction of $12,238,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jacques Frederic Kerrest sold 200 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $210.10, for a total value of $42,020.00. Following the sale, the insider now directly owns 7,542 shares of the company’s stock, valued at $1,584,574.20. The disclosure for this sale can be found here. Insiders have sold a total of 405,377 shares of company stock valued at $89,068,004 over the last three months. Corporate insiders own 12.02% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. GWM Advisors LLC grew its holdings in shares of Okta by 81.4% in the second quarter. GWM Advisors LLC now owns 4,883 shares of the company’s stock valued at $977,000 after acquiring an additional 2,191 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Okta by 33.8% in the first quarter. Invesco Ltd. now owns 323,059 shares of the company’s stock valued at $39,498,000 after acquiring an additional 81,624 shares in the last quarter. Vident Investment Advisory LLC grew its holdings in shares of Okta by 201.7% in the second quarter. Vident Investment Advisory LLC now owns 6,176 shares of the company’s stock valued at $1,237,000 after acquiring an additional 4,129 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of Okta by 4,165.1% in the second quarter. Nordea Investment Management AB now owns 198,368 shares of the company’s stock valued at $39,430,000 after acquiring an additional 193,717 shares in the last quarter. Finally, Barnett & Company Inc. bought a new position in shares of Okta in the second quarter valued at approximately $54,000. 77.40% of the stock is owned by institutional investors.
Okta Company Profile
Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.
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