JMP Securities Reaffirms Market Perform Rating for Okta (NASDAQ:OKTA)

Okta (NASDAQ:OKTA)‘s stock had its “market perform” rating restated by stock analysts at JMP Securities in a note issued to investors on Wednesday,Benzinga reports.

A number of other research firms have also issued reports on OKTA. Royal Bank of Canada dropped their price objective on shares of Okta from $125.00 to $101.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Stifel Nicolaus boosted their price objective on shares of Okta from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday. BMO Capital Markets raised their target price on Okta from $103.00 to $105.00 and gave the company a “market perform” rating in a research note on Wednesday. The Goldman Sachs Group boosted their price target on Okta from $97.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, BTIG Research increased their price target on Okta from $98.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Okta has an average rating of “Hold” and an average target price of $103.77.

Okta Trading Down 3.0 %

Shares of OKTA opened at $83.51 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83. Okta has a 12 month low of $70.56 and a 12 month high of $114.50. The stock has a market cap of $14.19 billion, a PE ratio of -238.60, a P/E/G ratio of 20.94 and a beta of 1.00. The stock’s 50-day moving average is $75.37 and its two-hundred day moving average is $84.29.

Insider Activity at Okta

In other Okta news, insider Larissa Schwartz sold 2,790 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.01, for a total value of $206,487.90. Following the sale, the insider now directly owns 27,713 shares in the company, valued at approximately $2,051,039.13. This trade represents a 9.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jacques Frederic Kerrest sold 131,426 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $80.68, for a total transaction of $10,603,449.68. Following the transaction, the director now owns 1,622 shares of the company’s stock, valued at $130,862.96. This represents a 98.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 607,215 shares of company stock worth $46,304,810 in the last 90 days. 7.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Okta

Hedge funds have recently made changes to their positions in the business. Tidal Investments LLC raised its stake in Okta by 15.7% during the 1st quarter. Tidal Investments LLC now owns 5,405 shares of the company’s stock valued at $565,000 after acquiring an additional 734 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Okta by 87.4% during the first quarter. Cetera Investment Advisers now owns 17,265 shares of the company’s stock valued at $1,806,000 after purchasing an additional 8,051 shares during the period. Cetera Advisors LLC acquired a new position in shares of Okta during the first quarter valued at $946,000. EverSource Wealth Advisors LLC raised its stake in shares of Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after purchasing an additional 142 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in Okta by 10.0% in the second quarter. Harbor Capital Advisors Inc. now owns 5,115 shares of the company’s stock worth $479,000 after purchasing an additional 465 shares during the period. Institutional investors own 86.64% of the company’s stock.

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.