Okta (NASDAQ:OKTA) Given New $124.00 Price Target at Sanford C. Bernstein

Okta (NASDAQ:OKTA) had its price objective lowered by Sanford C. Bernstein from $129.00 to $124.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

OKTA has been the topic of several other reports. Westpark Capital reiterated a “buy” rating and set a $140.00 target price on shares of Okta in a research report on Wednesday, December 4th. BMO Capital Markets increased their price objective on shares of Okta from $103.00 to $105.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Citigroup lifted their price objective on shares of Okta from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. JMP Securities restated a “market perform” rating on shares of Okta in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group lifted their price target on Okta from $97.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $104.43.

Okta Price Performance

NASDAQ:OKTA opened at $85.42 on Tuesday. The business’s 50-day moving average is $77.34 and its 200 day moving average is $83.38. Okta has a 12 month low of $70.56 and a 12 month high of $114.50. The company has a market capitalization of $14.64 billion, a P/E ratio of -244.06, a P/E/G ratio of 8.61 and a beta of 1.00. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06.

Insider Buying and Selling at Okta

In other news, insider Larissa Schwartz sold 2,797 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $77.63, for a total transaction of $217,131.11. Following the transaction, the insider now directly owns 24,916 shares in the company, valued at approximately $1,934,229.08. This trade represents a 10.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Todd Mckinnon sold 200,512 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $75.21, for a total transaction of $15,080,507.52. Following the completion of the transaction, the chief executive officer now directly owns 8,495 shares of the company’s stock, valued at $638,908.95. This trade represents a 95.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 604,425 shares of company stock valued at $46,098,322 in the last ninety days. Corporate insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in OKTA. Itau Unibanco Holding S.A. bought a new stake in Okta during the third quarter valued at about $25,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Okta during the third quarter valued at about $26,000. Blue Trust Inc. lifted its position in shares of Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after buying an additional 191 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Okta in the 3rd quarter valued at about $32,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of Okta in the 2nd quarter worth approximately $47,000. 86.64% of the stock is currently owned by hedge funds and other 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.