Okta (NASDAQ:OKTA) Given New $90.00 Price Target at Deutsche Bank Aktiengesellschaft

Okta (NASDAQ:OKTAGet Rating) had its price target boosted by Deutsche Bank Aktiengesellschaft from $80.00 to $90.00 in a research note published on Monday, The Fly reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company set a $76.00 target price on shares of Okta in a research report on Wednesday, November 23rd. Mizuho cut their price target on Okta from $110.00 to $90.00 and set a buy rating for the company in a research note on Thursday, November 10th. Canaccord Genuity Group cut their price target on Okta from $85.00 to $70.00 and set a hold rating for the company in a research note on Monday, November 14th. Cowen initiated coverage on Okta in a research note on Tuesday, December 13th. They set a market perform rating and a $70.00 price target for the company. Finally, Scotiabank initiated coverage on shares of Okta in a research note on Wednesday, January 18th. They issued an outperform rating and a $90.00 target price for the company. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $87.65.

Okta Trading Up 1.6 %

Shares of OKTA opened at $69.83 on Monday. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 0.41. Okta has a 12-month low of $44.12 and a 12-month high of $203.79. The firm has a 50-day moving average price of $63.24 and a 200 day moving average price of $70.27. The firm has a market capitalization of $11.19 billion, a P/E ratio of -12.08 and a beta of 1.05.

Okta (NASDAQ:OKTAGet Rating) last issued its earnings results on Wednesday, November 30th. The company reported ($1.09) earnings per share for the quarter, beating the consensus estimate of ($1.34) by $0.25. Okta had a negative net margin of 52.19% and a negative return on equity of 13.61%. The firm had revenue of $481.04 million for the quarter, compared to analysts’ expectations of $463.62 million. Sell-side analysts forecast that Okta will post -4.48 EPS for the current year.

Insider Buying and Selling at Okta

In other Okta news, CEO Todd Mckinnon sold 3,771 shares of the business’s stock in a transaction dated Friday, December 16th. The stock was sold at an average price of $67.41, for a total value of $254,203.11. Following the completion of the transaction, the chief executive officer now directly owns 18,662 shares of the company’s stock, valued at $1,258,005.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Okta news, CEO Todd Mckinnon sold 3,771 shares of the company’s stock in a transaction that occurred on Friday, December 16th. The stock was sold at an average price of $67.41, for a total value of $254,203.11. Following the sale, the chief executive officer now owns 18,662 shares in the company, valued at $1,258,005.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jacques Frederic Kerrest sold 18,729 shares of the company’s stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $49.15, for a total value of $920,530.35. Following the completion of the transaction, the director now directly owns 100 shares in the company, valued at approximately $4,915. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,679 shares of company stock worth $1,726,103. 7.60% of the stock is currently owned by insiders.

Institutional Trading of Okta

Several large investors have recently made changes to their positions in the company. Synovus Financial Corp lifted its position in shares of Okta by 1.5% during the 2nd quarter. Synovus Financial Corp now owns 6,978 shares of the company’s stock worth $631,000 after buying an additional 103 shares in the last quarter. Sepio Capital LP grew its position in shares of Okta by 3.0% during the 2nd quarter. Sepio Capital LP now owns 3,777 shares of the company’s stock valued at $341,000 after purchasing an additional 110 shares in the last quarter. Captrust Financial Advisors grew its position in shares of Okta by 2.4% during the 2nd quarter. Captrust Financial Advisors now owns 5,953 shares of the company’s stock valued at $538,000 after purchasing an additional 137 shares in the last quarter. Capital Investment Advisory Services LLC grew its position in Okta by 4.9% in the second quarter. Capital Investment Advisory Services LLC now owns 3,113 shares of the company’s stock worth $281,000 after acquiring an additional 145 shares in the last quarter. Finally, Toroso Investments LLC grew its position in Okta by 10.1% in the first quarter. Toroso Investments LLC now owns 1,717 shares of the company’s stock worth $259,000 after acquiring an additional 157 shares in the last quarter. 73.02% of the stock is currently owned by institutional investors and hedge funds.

Okta Company Profile

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Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products and services, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access applications in the cloud or on-premise from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, Web applications, and data; Lifecycle Management that enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; Access Gateway that enables organizations to extend the Okta Identity Cloud from the cloud to their existing on-premise applications; and Advanced Server Access to secure cloud infrastructure.

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