Okta (NASDAQ:OKTA) Upgraded at JPMorgan Chase & Co.

Okta (NASDAQ:OKTA) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued on Monday, MarketBeat reports. The firm presently has a $100.00 price objective on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 21.97% from the company’s current price.

OKTA has been the topic of a number of other reports. Canaccord Genuity Group boosted their price target on Okta from $82.00 to $94.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft downgraded shares of Okta from a “buy” rating to a “hold” rating and decreased their target price for the company from $115.00 to $85.00 in a research report on Tuesday, November 12th. Citigroup increased their price objective on shares of Okta from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Stifel Nicolaus lifted their target price on Okta from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, BTIG Research raised their price target on Okta from $98.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $104.27.

Okta Trading Down 2.3 %

Shares of NASDAQ:OKTA opened at $81.99 on Monday. The firm has a market cap of $13.93 billion, a price-to-earnings ratio of -234.26, a PEG ratio of 8.93 and a beta of 1.00. Okta has a 12 month low of $70.56 and a 12 month high of $114.50. The company’s fifty day simple moving average is $76.84 and its 200 day simple moving average is $83.43. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Insider Buying and Selling

In other news, Director Jacques Frederic Kerrest sold 131,426 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 1,622 shares in the company, valued at approximately $130,862.96. This trade represents a 98.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Todd Mckinnon sold 32,516 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $76.22, for a total transaction of $2,478,369.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 604,425 shares of company stock worth $46,098,322. Corporate insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of OKTA. Itau Unibanco Holding S.A. acquired a new position in Okta in the 3rd quarter worth about $25,000. Future Financial Wealth Managment LLC acquired a new position in shares of Okta in the third quarter valued at approximately $26,000. Blue Trust Inc. raised its holdings in Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after buying an additional 191 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in Okta during the 3rd quarter worth approximately $32,000. Finally, First Command Advisory Services Inc. bought a new stake in Okta during the 2nd quarter worth approximately $47,000. 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.