Okta (NASDAQ:OKTA) Price Target Raised to $130.00 at Robert W. Baird

Okta (NASDAQ:OKTA) had its target price lifted by Robert W. Baird from $115.00 to $130.00 in a research note published on Tuesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

OKTA has been the subject of a number of other reports. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 price objective on shares of Okta in a research report on Tuesday. Guggenheim reiterated a “buy” rating and issued a $130.00 price objective on shares of Okta in a research report on Wednesday, December 4th. Morgan Stanley upgraded Okta from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $92.00 to $97.00 in a research report on Monday, December 2nd. KeyCorp lifted their price objective on Okta from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Canaccord Genuity Group raised their target price on Okta from $94.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $113.10.

Okta Price Performance

Shares of OKTA stock opened at $108.31 on Tuesday. The stock has a 50-day moving average price of $89.88 and a 200 day moving average price of $82.47. 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 $18.56 billion, a price-to-earnings ratio of -309.46, a PEG ratio of 6.42 and a beta of 1.09. Okta has a 12 month low of $70.56 and a 12 month high of $114.50.

Insider Buying and Selling at Okta

In other Okta news, insider Larissa Schwartz sold 2,740 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $97.59, for a total value of $267,396.60. Following the sale, the insider now owns 22,125 shares in the company, valued at approximately $2,159,178.75. The trade was a 11.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Todd Mckinnon sold 233,028 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $82.31, for a total value of $19,180,534.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 849,482 shares of company stock worth $74,422,216. Corporate insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On Okta

Several institutional investors have recently bought and sold shares of the company. Fluent Financial LLC bought a new stake in Okta in the 4th quarter valued at approximately $1,287,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Okta during the 4th quarter worth approximately $8,680,000. Forum Financial Management LP acquired a new position in shares of Okta during the 4th quarter worth approximately $333,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Okta during the 4th quarter worth approximately $40,000. Finally, PharVision Advisers LLC acquired a new position in shares of Okta during the 4th quarter worth approximately $299,000. 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.