Okta, Inc. (NASDAQ:OKTA) Director Sells $13,650,000.00 in Stock

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 130,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $105.00, for a total value of $13,650,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Jacques Frederic Kerrest also recently made the following trade(s):

• On Wednesday, February 5th, Jacques Frederic Kerrest sold 65,000 shares of Okta stock. The stock was sold at an average price of $97.50, for a total value of $6,337,500.00.
• On Tuesday, January 28th, Jacques Frederic Kerrest sold 130,000 shares of Okta stock. The stock was sold at an average price of $93.00, for a total value of $12,090,000.00.
• On Thursday, January 23rd, Jacques Frederic Kerrest sold 390,000 shares of Okta stock. The shares were sold at an average price of $87.09, for a total value of $33,965,100.00.
• On Tuesday, January 21st, Jacques Frederic Kerrest sold 3,306 shares of Okta stock. The stock was sold at an average price of $88.85, for a total value of $293,738.10.

Okta Trading Up 1.1 %

NASDAQ:OKTA opened at $112.44 on Friday. The firm has a market cap of $19.27 billion, a PE ratio of -321.26, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. The stock has a fifty day moving average price of $91.72 and a 200 day moving average price of $82.90. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $116.96. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Paloma Partners Management Co acquired a new stake in shares of Okta during the third quarter worth about $969,000. SBI Securities Co. Ltd. acquired a new position in Okta in the 4th quarter valued at $1,686,000. Stifel Financial Corp raised its holdings in Okta by 56.1% in the 3rd quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock valued at $2,770,000 after acquiring an additional 13,387 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Okta by 1,150.2% during the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock worth $33,146,000 after buying an additional 382,190 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Okta by 105.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock worth $26,627,000 after purchasing an additional 184,107 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OKTA. Scotiabank increased their target price on Okta from $94.00 to $109.00 and gave the company a “sector perform” rating in a report on Tuesday, March 4th. Wells Fargo & Company raised their price target on Okta from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Susquehanna raised their price objective on Okta from $95.00 to $105.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. DA Davidson raised Okta from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $90.00 to $125.00 in a research report on Tuesday, March 4th. Finally, Canaccord Genuity Group lifted their price target on Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $113.10.

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.