Insider Selling: Okta, Inc. (NASDAQ:OKTA) Insider Sells $1,317,967.68 in Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 11,552 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total value of $1,317,967.68. Following the completion of the sale, the insider now directly owns 22,125 shares of the company’s stock, valued at $2,524,241.25. This trade represents a 34.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, February 11th, Larissa Schwartz sold 2,740 shares of Okta stock. The stock was sold at an average price of $97.59, for a total value of $267,396.60.
• On Wednesday, January 22nd, Larissa Schwartz sold 2,704 shares of Okta stock. The stock was sold at an average price of $89.58, for a total value of $242,224.32.
• On Monday, December 30th, Larissa Schwartz sold 2,704 shares of Okta stock. The stock was sold at an average price of $80.50, for a total value of $217,672.00.

Okta Stock Performance

Shares of OKTA opened at $113.74 on Monday. The stock has a 50-day simple moving average of $97.48 and a 200-day simple moving average of $84.44. The stock has a market capitalization of $19.75 billion, a PE ratio of -324.97, a PEG ratio of 6.42 and a beta of 1.09. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $116.96. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

Wall Street Analysts Forecast Growth

OKTA has been the subject of a number of recent analyst reports. UBS Group set a $135.00 price objective on Okta in a research report on Tuesday, March 4th. JPMorgan Chase & Co. raised their price objective on Okta from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. DA Davidson raised Okta from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $90.00 to $125.00 in a research report on Tuesday, March 4th. Piper Sandler raised their price objective on Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $130.00 target price on shares of Okta in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Okta currently has an average rating of “Moderate Buy” and an average target price of $115.29.

Institutional Investors Weigh In On Okta

Several institutional investors have recently added to or reduced their stakes in OKTA. CIBC Asset Management Inc lifted its stake in Okta by 5.4% during the third quarter. CIBC Asset Management Inc now owns 5,650 shares of the company’s stock worth $420,000 after purchasing an additional 288 shares during the last quarter. Empowered Funds LLC lifted its stake in Okta by 5.4% during the third quarter. Empowered Funds LLC now owns 5,718 shares of the company’s stock worth $425,000 after purchasing an additional 295 shares during the last quarter. Swiss National Bank lifted its stake in Okta by 0.8% during the third quarter. Swiss National Bank now owns 477,700 shares of the company’s stock worth $35,512,000 after purchasing an additional 3,600 shares during the last quarter. Quest Partners LLC lifted its stake in Okta by 346.2% during the third quarter. Quest Partners LLC now owns 7,134 shares of the company’s stock worth $530,000 after purchasing an additional 5,535 shares during the last quarter. Finally, Caprock Group LLC lifted its stake in Okta by 32.6% during the third quarter. Caprock Group LLC now owns 3,786 shares of the company’s stock worth $281,000 after purchasing an additional 930 shares during the last quarter. 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.