Jefferies Financial Group Cuts Okta (NASDAQ:OKTA) Price Target to $90.00

Okta (NASDAQ:OKTA) had its target price lowered by Jefferies Financial Group from $100.00 to $90.00 in a research report report published on Thursday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

Several other research analysts have also commented on OKTA. Robert W. Baird boosted their price objective on Okta from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Citigroup lifted their price objective on Okta from $90.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Guggenheim reissued a “buy” rating and set a $130.00 price target on shares of Okta in a research report on Wednesday, December 4th. Piper Sandler lifted their price objective on Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Mizuho reduced their price target on shares of Okta from $104.00 to $92.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $104.45.

Okta Trading Up 1.9 %

Shares of OKTA opened at $83.28 on Thursday. The business’s 50-day moving average price is $77.63 and its 200-day moving average price is $83.32. 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 has a twelve month low of $70.56 and a twelve month high of $114.50. The stock has a market cap of $14.27 billion, a PE ratio of -237.94, a P/E/G ratio of 8.61 and a beta of 1.00.

Insider Activity

In other news, insider Larissa Schwartz sold 2,791 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $71.50, for a total transaction of $199,556.50. Following the sale, the insider now directly owns 22,125 shares in the company, valued at $1,581,937.50. This trade represents a 11.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jacques Frederic Kerrest sold 131,426 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $80.68, for a total value of $10,603,449.68. Following the completion of the transaction, the director now owns 1,622 shares in the company, valued at $130,862.96. The trade was a 98.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 403,913 shares of company stock valued at $31,017,815 in the last ninety days. 7.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caprock Group LLC boosted its stake in Okta by 4.7% during the second quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock valued at $267,000 after buying an additional 129 shares during the last quarter. National Bank of Canada FI lifted its position in shares of Okta by 11.0% during the second quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock worth $124,000 after purchasing an additional 130 shares during the last quarter. Bleakley Financial Group LLC boosted its position in Okta by 4.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock valued at $306,000 after buying an additional 182 shares during the period. Creative Financial Designs Inc. ADV boosted its holdings in shares of Okta by 12.4% in the third quarter. Creative Financial Designs Inc. ADV now owns 1,704 shares of the company’s stock valued at $127,000 after purchasing an additional 188 shares during the period. Finally, Blue Trust Inc. grew its position in shares of Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after buying an additional 191 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

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.