Okta (NASDAQ:OKTA) Given New $130.00 Price Target at BMO Capital Markets

Okta (NASDAQ:OKTA) had its price target boosted by BMO Capital Markets from $105.00 to $130.00 in a research report report published on Monday morning, MarketBeat.com reports. They currently have a market perform rating on the stock.

OKTA has been the subject of several other research reports. Barclays boosted their price target on shares of Okta from $105.00 to $115.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Oppenheimer boosted their target price on Okta from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, March 4th. Jefferies Financial Group raised their price target on Okta from $90.00 to $110.00 and gave the stock a “hold” rating in a research report on Tuesday, March 4th. Guggenheim reiterated a “buy” rating and issued a $130.00 price objective on shares of Okta in a research report on Wednesday, December 4th. Finally, Needham & Company LLC restated a “buy” rating and set a $115.00 target price on shares of Okta in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $114.39.

Okta Stock Down 6.4 %

Okta stock opened at $105.19 on Monday. The firm has a market capitalization of $18.02 billion, a price-to-earnings ratio of -300.54, a PEG ratio of 6.42 and a beta of 1.09. The company’s 50 day simple moving average is $92.23 and its 200 day simple moving average is $82.85. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta has a fifty-two week low of $70.56 and a fifty-two week high of $116.96.

Insider Transactions at Okta

In other news, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction on Monday, December 30th. The stock was sold at an average price of $80.50, for a total transaction of $217,672.00. Following the completion of the sale, the insider now owns 24,462 shares of the company’s stock, valued at approximately $1,969,191. This trade represents a 9.95 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd Mckinnon sold 233,028 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $82.31, for a total transaction of $19,180,534.68. The disclosure for this sale can be found here. In the last three months, insiders sold 979,482 shares of company stock worth $88,072,216. 7.00% of the stock is owned by company insiders.

Institutional Trading of Okta

A number of institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in Okta during the fourth quarter worth about $234,992,000. Ameriprise Financial Inc. raised its position in shares of Okta by 2,135.7% in the 4th quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company’s stock valued at $150,845,000 after buying an additional 1,828,630 shares in the last quarter. Alyeska Investment Group L.P. lifted its holdings in shares of Okta by 2,309.4% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,772,751 shares of the company’s stock worth $139,693,000 after acquiring an additional 1,699,176 shares during the period. Point72 Asset Management L.P. boosted its position in shares of Okta by 236.8% during the 4th quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company’s stock worth $176,271,000 after acquiring an additional 1,572,786 shares in the last quarter. Finally, Sachem Head Capital Management LP bought a new position in Okta in the fourth quarter valued at approximately $105,592,000. 86.64% of the stock is currently owned by institutional investors.

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.