Okta, Inc. (NASDAQ:OKTA) Given Average Recommendation of “Hold” by Analysts

Okta, Inc. (NASDAQ:OKTA) has earned an average rating of “Hold” from the twenty-nine ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seventeen have given a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $105.14.

A number of brokerages have recently commented on OKTA. Wedbush reiterated an “outperform” rating and set a $130.00 price objective on shares of Okta in a research report on Wednesday, May 29th. Truist Financial reiterated a “hold” rating and issued a $95.00 price target (down previously from $105.00) on shares of Okta in a research report on Thursday, August 29th. BMO Capital Markets boosted their price objective on Okta from $100.00 to $103.00 and gave the stock a “market perform” rating in a report on Thursday, August 29th. Bank of America cut shares of Okta from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $135.00 to $75.00 in a report on Thursday, August 29th. Finally, The Goldman Sachs Group cut their price target on shares of Okta from $130.00 to $113.00 and set a “buy” rating on the stock in a report on Thursday, August 29th.

Insider Activity

In related news, CEO Todd Mckinnon sold 179,687 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $93.42, for a total value of $16,786,359.54. Following the completion of the sale, the chief executive officer now directly owns 47,883 shares in the company, valued at approximately $4,473,229.86. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Larissa Schwartz sold 2,795 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $92.02, for a total value of $257,195.90. Following the sale, the insider now directly owns 27,014 shares of the company’s stock, valued at $2,485,828.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Todd Mckinnon sold 179,687 shares of the business’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $93.42, for a total value of $16,786,359.54. Following the transaction, the chief executive officer now directly owns 47,883 shares of the company’s stock, valued at approximately $4,473,229.86. The disclosure for this sale can be found here. In the last quarter, insiders have sold 346,173 shares of company stock valued at $32,765,801. Insiders own 7.00% of the company’s stock.

Institutional Trading of Okta

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Okta by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 15,719,619 shares of the company’s stock worth $1,423,097,000 after acquiring an additional 438,496 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its position in Okta by 19.5% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 3,405 shares of the company’s stock worth $308,000 after purchasing an additional 556 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Okta by 282.5% during the 1st quarter. Los Angeles Capital Management LLC now owns 248,658 shares of the company’s stock worth $26,015,000 after purchasing an additional 183,643 shares during the period. Principal Financial Group Inc. raised its position in shares of Okta by 28.6% during the first quarter. Principal Financial Group Inc. now owns 13,144 shares of the company’s stock valued at $1,375,000 after buying an additional 2,925 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Okta by 639.6% in the first quarter. SG Americas Securities LLC now owns 70,895 shares of the company’s stock valued at $7,417,000 after buying an additional 61,309 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Up 0.8 %

OKTA stock opened at $74.06 on Wednesday. The firm has a market cap of $12.58 billion, a PE ratio of -44.35, a P/E/G ratio of 40.62 and a beta of 1.01. Okta has a 12 month low of $65.04 and a 12 month high of $114.50. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83. The firm has a 50 day simple moving average of $89.41 and a 200 day simple moving average of $94.69.

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.