Susquehanna Boosts Okta (NASDAQ:OKTA) Price Target to $105.00

Okta (NASDAQ:OKTA) had its price target upped by equities research analysts at Susquehanna from $95.00 to $105.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Susquehanna’s price objective suggests a potential downside of 9.72% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft lowered shares of Okta from a “buy” rating to a “hold” rating and cut their price objective for the company from $115.00 to $85.00 in a research report on Tuesday, November 12th. Needham & Company LLC restated a “buy” rating and set a $115.00 target price on shares of Okta in a report on Tuesday. DA Davidson upgraded Okta from a “neutral” rating to a “buy” rating and upped their price target for the stock from $90.00 to $125.00 in a research note on Tuesday. Westpark Capital reissued a “buy” rating and issued a $140.00 price objective on shares of Okta in a research note on Friday, February 28th. Finally, Guggenheim restated a “buy” rating and issued a $130.00 target price on shares of Okta in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $113.10.

Okta Stock Up 7.4 %

OKTA opened at $116.31 on Tuesday. The company has a market capitalization of $19.93 billion, a PE ratio of -332.31, a price-to-earnings-growth ratio of 6.42 and a beta of 1.09. 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 $116.75. The business has a 50-day moving average of $89.88 and a 200-day moving average of $82.47.

Insider Buying and Selling at Okta

In other news, CFO Brett Tighe sold 5,000 shares of Okta stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $89.00, for a total transaction of $445,000.00. Following the sale, the chief financial officer now directly owns 112,533 shares in the company, valued at approximately $10,015,437. The trade was a 4.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Insiders have sold 849,482 shares of company stock valued at $74,422,216 in the last 90 days. 7.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Okta

Several hedge funds and other institutional investors have recently modified their holdings of OKTA. International Assets Investment Management LLC raised its stake in Okta by 3,719.2% during the third quarter. International Assets Investment Management LLC now owns 9,739 shares of the company’s stock worth $724,000 after acquiring an additional 9,484 shares in the last quarter. Stephens Inc. AR grew its holdings in shares of Okta by 19.2% in the 3rd quarter. Stephens Inc. AR now owns 3,139 shares of the company’s stock worth $233,000 after purchasing an additional 505 shares during the last quarter. Creative Financial Designs Inc. ADV increased its position in shares of Okta by 12.4% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 1,704 shares of the company’s stock worth $127,000 after purchasing an additional 188 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Okta by 37.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,031 shares of the company’s stock valued at $523,000 after purchasing an additional 1,916 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in Okta by 232.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company’s stock valued at $29,479,000 after buying an additional 277,084 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

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.