Okta (NASDAQ:OKTA) Rating Increased to Overweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Okta (NASDAQ:OKTA) from a neutral rating to an overweight rating in a research note issued to investors on Monday, MarketBeat.com reports. JPMorgan Chase & Co. currently has $100.00 target price on the stock.

A number of other equities analysts have also recently weighed in on OKTA. Truist Financial reaffirmed a “hold” rating and issued a $92.00 price target (up previously from $80.00) on shares of Okta in a report on Wednesday, December 4th. Guggenheim reaffirmed a “buy” rating and set a $130.00 target price on shares of Okta in a research note on Wednesday, December 4th. Westpark Capital reissued a “buy” rating and issued a $140.00 price target on shares of Okta in a research note on Wednesday, December 4th. Canaccord Genuity Group upped their price objective on shares of Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Finally, BMO Capital Markets lifted their target price 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. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Okta presently has an average rating of “Hold” and an average price target of $104.27.

Okta Trading Up 3.4 %

Shares of NASDAQ:OKTA opened at $84.76 on Monday. The company has a market capitalization of $14.52 billion, a PE ratio of -242.17, a PEG ratio of 8.61 and a beta of 1.00. Okta has a 12-month low of $70.56 and a 12-month high of $114.50. The business has a 50 day moving average of $77.10 and a two-hundred day moving average of $83.40. 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

In other Okta news, insider Larissa Schwartz sold 2,791 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $71.50, for a total value of $199,556.50. Following the sale, the insider now directly owns 22,125 shares in the company, valued at $1,581,937.50. This trade represents a 11.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jacques Frederic Kerrest sold 131,426 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $80.68, for a total value of $10,603,449.68. Following the sale, the director now owns 1,622 shares of the company’s stock, valued at approximately $130,862.96. The trade was a 98.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 604,425 shares of company stock valued at $46,098,322 in the last three months. 7.00% of the stock is owned by corporate insiders.

Institutional Trading of Okta

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OKTA. Itau Unibanco Holding S.A. purchased a new position in shares of Okta in the 3rd quarter valued at $25,000. Future Financial Wealth Managment LLC purchased a new position in shares of Okta during the third quarter worth about $26,000. Blue Trust Inc. lifted its holdings in shares of Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after purchasing an additional 191 shares during the last quarter. Legacy Investment Solutions LLC acquired 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 Okta during the 2nd quarter worth approximately $47,000. Institutional investors and hedge funds 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.