Okta, Inc. (NASDAQ:OKTA) Receives Consensus Rating of “Hold” from Analysts

Okta, Inc. (NASDAQ:OKTA) has been assigned an average rating of “Hold” from the thirty-two analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $104.45.

Several equities analysts have weighed in on OKTA shares. Susquehanna lifted their target price on Okta from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Piper Sandler lifted their target price on shares of Okta from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Needham & Company LLC upped their price target on shares of Okta from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Stifel Nicolaus increased their price objective on Okta from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Jefferies Financial Group lowered their target price on Okta from $100.00 to $90.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th.

Okta Stock Performance

OKTA opened at $83.49 on Tuesday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The firm has a market cap of $14.31 billion, a PE ratio of -238.54, a P/E/G ratio of 8.61 and a beta of 1.00. The business has a fifty day simple moving average of $80.34 and a 200-day simple moving average of $82.57. Okta has a fifty-two week low of $70.56 and a fifty-two week high of $114.50.

Insider Activity

In related news, 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 completion of the transaction, the insider now directly owns 22,125 shares in the company, valued at approximately $1,581,937.50. The trade was a 11.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd Mckinnon sold 224,533 shares of the stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold 594,482 shares of company stock valued at $46,955,865 over the last three months. 7.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Okta

Institutional investors have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Okta by 2.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock worth $605,000 after buying an additional 180 shares during the period. Bleakley Financial Group LLC lifted its position in Okta by 4.6% during the third quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock worth $306,000 after acquiring an additional 182 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in shares of Okta by 12.4% during the third quarter. Creative Financial Designs Inc. ADV now owns 1,704 shares of the company’s stock worth $127,000 after acquiring an additional 188 shares during the period. Blue Trust Inc. grew its position in shares of Okta by 105.5% in the third 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 last quarter. Finally, CHICAGO TRUST Co NA increased its stake in shares of Okta by 6.5% during the fourth quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company’s stock worth $246,000 after purchasing an additional 191 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.

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.