Okta (NASDAQ:OKTA) PT Lowered to $92.00 at Mizuho

Okta (NASDAQ:OKTA) had its price target lowered by Mizuho from $104.00 to $92.00 in a research note issued to investors on Thursday morning, Marketbeat.com reports. The firm currently has a neutral rating on the stock.

OKTA has been the subject of several other research reports. Westpark Capital reissued a “buy” rating and issued a $140.00 price target on shares of Okta in a research report on Thursday, August 29th. Truist Financial decreased their price target on Okta from $95.00 to $80.00 and set a “hold” rating on the stock in a research note on Thursday. Piper Sandler dropped their price objective on Okta from $100.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday. The Goldman Sachs Group decreased their price objective on shares of Okta from $130.00 to $113.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Royal Bank of Canada cut their target price on shares of Okta from $125.00 to $101.00 and set an “outperform” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Okta has a consensus rating of “Hold” and an average target price of $99.38.

Okta Stock Up 0.5 %

Okta stock opened at $74.82 on Thursday. The company has a market capitalization of $12.59 billion, a P/E ratio of -44.80, a P/E/G ratio of 18.05 and a beta of 1.02. The firm’s fifty day simple moving average is $80.44 and its 200-day simple moving average is $89.20. Okta has a 1-year low of $65.04 and a 1-year high of $114.50. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.29. The business had revenue of $646.00 million for the quarter, compared to the consensus estimate of $632.24 million. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. Sell-side analysts forecast that Okta will post 0.19 earnings per share for the current fiscal year.

Insider Transactions at Okta

In other news, CEO Todd Mckinnon sold 200,512 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $75.21, for a total transaction of $15,080,507.52. Following the completion of the sale, the chief executive officer now owns 8,495 shares of the company’s stock, valued at $638,908.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Larissa Schwartz sold 2,797 shares of Okta stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $77.63, for a total transaction of $217,131.11. Following the completion of the sale, the insider now owns 24,916 shares of the company’s stock, valued at approximately $1,934,229.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Todd Mckinnon sold 200,512 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $75.21, for a total transaction of $15,080,507.52. Following the completion of the transaction, the chief executive officer now directly owns 8,495 shares in the company, valued at approximately $638,908.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 251,260 shares of company stock valued at $19,004,347 over the last 90 days. 7.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Okta

Large investors have recently made changes to their positions in the company. Future Financial Wealth Managment LLC bought a new stake in shares of Okta in the third quarter valued at about $26,000. City State Bank raised its stake in Okta by 160.0% in the 1st quarter. City State Bank now owns 260 shares of the company’s stock worth $27,000 after purchasing an additional 160 shares in the last quarter. Blue Trust Inc. boosted 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 purchasing an additional 191 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Okta by 71.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after purchasing an additional 142 shares during the period. Finally, First Command Advisory Services Inc. acquired a new position in shares of Okta during the 2nd quarter worth approximately $47,000. Institutional investors own 86.64% of the company’s stock.

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.