Okta, Inc. (NASDAQ:OKTA) Receives Average Recommendation of “Hold” from Brokerages

Shares of Okta, Inc. (NASDAQ:OKTA) have been assigned a consensus recommendation of “Hold” from the twenty-nine research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $98.45.

Several research analysts recently commented on the company. Wells Fargo & Company lowered their target price on Okta from $90.00 to $80.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. Jefferies Financial Group lowered their target price on Okta from $100.00 to $85.00 and set a “hold” rating for the company in a research note on Tuesday, September 24th. BTIG Research lowered their target price on Okta from $128.00 to $98.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Canaccord Genuity Group lowered their target price on Okta from $90.00 to $82.00 and set a “hold” rating for the company in a research note on Friday, October 18th. Finally, Citigroup lowered their price objective on Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th.

Okta Trading Up 1.5 %

OKTA opened at $77.56 on Monday. Okta has a 12 month low of $66.69 and a 12 month high of $114.50. The stock has a market capitalization of $13.17 billion, a price-to-earnings ratio of -92.33, a PEG ratio of 18.99 and a beta of 1.02. 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 business has a fifty day moving average price of $74.94 and a 200 day moving average price of $84.67.

Insider Buying and Selling at Okta

In other Okta news, CEO Todd Mckinnon sold 224,533 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $74.62, for a total transaction of $16,754,652.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Larissa Schwartz sold 2,791 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $71.50, for a total value of $199,556.50. Following the transaction, the insider now owns 22,125 shares in the company, valued at $1,581,937.50. The trade was a 11.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 475,789 shares of company stock valued at $35,701,361 in the last ninety days. Insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On Okta

Several institutional investors and hedge funds have recently added to or reduced their stakes in OKTA. Itau Unibanco Holding S.A. acquired a new position in Okta during the 3rd quarter worth approximately $25,000. Future Financial Wealth Managment LLC acquired a new position in Okta during the 3rd quarter worth approximately $26,000. Blue Trust Inc. increased its position in Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after purchasing an additional 191 shares during the period. Legacy Investment Solutions LLC acquired a new position in Okta during the 3rd quarter worth approximately $32,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Okta by 71.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after acquiring an additional 142 shares during the period. Institutional investors and hedge funds 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.