Insider Selling: Okta, Inc. (NASDAQ:OKTA) Insider Sells 2,704 Shares of Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 2,704 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00. Following the transaction, the insider now owns 24,462 shares in the company, valued at $1,969,191. This represents a 9.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Larissa Schwartz also recently made the following trade(s):

• On Monday, November 4th, Larissa Schwartz sold 2,791 shares of Okta stock. The shares were sold at an average price of $71.50, for a total transaction of $199,556.50.
• On Monday, October 14th, Larissa Schwartz sold 2,797 shares of Okta stock. The stock was sold at an average price of $77.63, for a total value of $217,131.11.

Okta Stock Up 0.0 %

Shares of NASDAQ:OKTA opened at $78.83 on Friday. The business’s 50 day moving average is $78.77 and its 200 day moving average is $82.87. The stock has a market cap of $13.51 billion, a P/E ratio of -225.23, a price-to-earnings-growth ratio of 8.61 and a beta of 1.00. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $114.50. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Wall Street Analysts Forecast Growth

OKTA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of Okta from a “neutral” rating to an “overweight” rating and set a $100.00 target price on the stock in a research note on Monday, December 16th. Canaccord Genuity Group boosted their price objective on Okta from $82.00 to $94.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Royal Bank of Canada reissued an “outperform” rating and set a $101.00 target price on shares of Okta in a research note on Wednesday, December 4th. JMP Securities reaffirmed a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. Finally, Needham & Company LLC upped their target price on shares of Okta from $100.00 to $115.00 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 issued a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Okta presently has an average rating of “Hold” and a consensus price target of $104.45.

Hedge Funds Weigh In On Okta

Several institutional investors have recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new stake in Okta in the third quarter worth about $25,000. Future Financial Wealth Managment LLC bought a new stake in shares of Okta in the 3rd quarter valued at about $26,000. Blue Trust Inc. lifted its position in shares of Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after purchasing an additional 191 shares during the period. Legacy Investment Solutions LLC bought a new position in shares of Okta during the third quarter valued at approximately $32,000. Finally, nVerses Capital LLC purchased a new position in Okta during the second quarter valued at approximately $47,000. Hedge funds and other 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.