Okta (NASDAQ:OKTA) Stock Unloaded Sen.

Senator (R-Florida) recently sold shares of Okta, Inc. (NASDAQ:OKTA). In a filing disclosed on February 21st, the Senator disclosed that they had sold between $50,001 and $100,000 in Okta stock on January 21st.

Senator also recently made the following trade(s):

• Purchased $50,001 – $100,000 in shares of Howmet Aerospace (NYSE:HWM) on 1/22/2025.
• Purchased $100,001 – $250,000 in shares of Applied Materials (NASDAQ:AMAT) on 1/22/2025.
• Purchased $50,001 – $100,000 in shares of Micron Technology (NASDAQ:MU) on 1/22/2025.

Okta Stock Performance

NASDAQ OKTA opened at $92.75 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $88.64 and its two-hundred day moving average is $82.53. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $114.50. The stock has a market capitalization of $15.89 billion, a price-to-earnings ratio of -265.00, a PEG ratio of 6.42 and a beta of 1.03.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. BMO Capital Markets boosted their target price on Okta from $103.00 to $105.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Susquehanna boosted their target price on Okta from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. DA Davidson boosted their target price on Okta from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Sanford C. Bernstein dropped their target price on Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 17th. Finally, Robert W. Baird boosted their target price on Okta from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $106.13.

Insiders Place Their Bets

In other news, CEO Todd Mckinnon sold 233,028 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $82.31, for a total transaction of $19,180,534.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jacques Frederic Kerrest sold 131,426 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $80.68, for a total value of $10,603,449.68. Following the sale, the director now owns 1,622 shares of the company’s stock, valued at approximately $130,862.96. The trade was a 98.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 980,908 shares of company stock valued at $85,025,665 in the last quarter. 7.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OKTA. Creative Planning lifted its stake in shares of Okta by 661.0% during the 3rd quarter. Creative Planning now owns 86,681 shares of the company’s stock worth $6,444,000 after purchasing an additional 75,290 shares during the period. Bleakley Financial Group LLC lifted its stake in shares of Okta by 4.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock worth $306,000 after purchasing an additional 182 shares during the period. Blue Trust Inc. lifted its stake in shares of 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. Allspring Global Investments Holdings LLC lifted its stake in shares of Okta by 4.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 232,432 shares of the company’s stock worth $17,279,000 after purchasing an additional 10,761 shares during the period. Finally, Commerzbank Aktiengesellschaft FI purchased a new position in shares of Okta during the 3rd quarter worth $831,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

About Senator

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.