Okta, Inc. (NASDAQ:OKTA) Insider Larissa Schwartz Sells 2,704 Shares

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 2,704 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.50, for a total value of $217,672.00. Following the completion of the sale, the insider now directly owns 24,462 shares of the company’s stock, valued at approximately $1,969,191. This trade represents a 9.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Larissa Schwartz also recently made the following trade(s):

• On Monday, November 4th, Larissa Schwartz sold 2,791 shares of Okta stock. The shares were sold at an average price of $71.50, for a total value of $199,556.50.
• On Monday, October 14th, Larissa Schwartz sold 2,797 shares of Okta stock. The stock was sold at an average price of $77.63, for a total value of $217,131.11.

Okta Price Performance

Shares of Okta stock opened at $78.83 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $114.50. The company has a fifty day moving average of $78.77 and a 200-day moving average of $82.87. The stock has a market capitalization of $13.51 billion, a price-to-earnings ratio of -225.23, a price-to-earnings-growth ratio of 8.61 and a beta of 1.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. boosted its holdings in Okta by 11.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 16,285 shares of the company’s stock valued at $1,524,000 after acquiring an additional 1,721 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Okta during the second quarter valued at approximately $47,000. Natixis Advisors LLC lifted its holdings in shares of Okta by 29.7% during the second quarter. Natixis Advisors LLC now owns 29,932 shares of the company’s stock valued at $2,802,000 after purchasing an additional 6,851 shares during the last quarter. Verus Capital Partners LLC boosted its position in shares of Okta by 20.0% in the 2nd quarter. Verus Capital Partners LLC now owns 3,094 shares of the company’s stock worth $290,000 after purchasing an additional 516 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Okta by 10.2% in the 2nd quarter. CIBC Asset Management Inc now owns 5,362 shares of the company’s stock worth $502,000 after buying an additional 498 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

OKTA has been the subject of a number of analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $101.00 price target on shares of Okta in a research report on Wednesday, December 4th. Citigroup lifted their price objective on shares of Okta from $90.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Scotiabank upped their target price on shares of Okta from $92.00 to $96.00 and gave the stock a “sector perform” rating in a research note on Wednesday, December 4th. BMO Capital Markets lifted their price target on shares of Okta from $103.00 to $105.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, Sanford C. Bernstein dropped their price objective on Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $104.45.

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.