JPMorgan Chase & Co. Raises Okta (NASDAQ:OKTA) Price Target to $95.00

Okta (NASDAQ:OKTA – Get Rating) had its price target upped by JPMorgan Chase & Co. from $90.00 to $95.00 in a research report report published on Thursday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of Okta from $90.00 to $100.00 and gave the company a buy rating in a research note on Thursday. Sanford C. Bernstein lifted their price objective on shares of Okta from $80.00 to $92.00 and gave the company a market perform rating in a research note on Thursday. KeyCorp lifted their price objective on shares of Okta from $80.00 to $85.00 and gave the company an overweight rating in a research note on Friday, February 24th. Wells Fargo & Company lifted their price objective on shares of Okta from $76.00 to $98.00 and gave the company an overweight rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Okta from $80.00 to $90.00 and gave the stock a buy rating in a report on Monday, January 23rd. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $84.36.

Okta Stock Up 5.7 %

Shares of NASDAQ OKTA opened at $85.55 on Thursday. Okta has a fifty-two week low of $44.12 and a fifty-two week high of $176.18. The firm’s 50-day simple moving average is $71.89 and its 200 day simple moving average is $65.00. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.30 and a current ratio of 2.30.

Insider Activity at Okta

In related news, CEO Todd Mckinnon sold 3,771 shares of the business’s stock in a transaction that occurred on Friday, December 16th. The shares were sold at an average price of $67.41, for a total transaction of $254,203.11. Following the transaction, the chief executive officer now directly owns 18,662 shares of the company’s stock, valued at $1,258,005.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Brett Tighe sold 2,643 shares of the business’s stock in a transaction that occurred on Friday, December 16th. The shares were sold at an average price of $67.41, for a total transaction of $178,164.63. Following the transaction, the chief financial officer now directly owns 39,472 shares of the company’s stock, valued at $2,660,807.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Mckinnon sold 3,771 shares of Okta stock in a transaction that occurred on Friday, December 16th. The shares were sold at an average price of $67.41, for a total transaction of $254,203.11. Following the completion of the sale, the chief executive officer now owns 18,662 shares of the company’s stock, valued at $1,258,005.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,950 shares of company stock valued at $805,573. Corporate insiders own 7.60% of the company’s stock.

Institutional Trading of Okta

A number of institutional investors have recently added to or reduced their stakes in OKTA. MetLife Investment Management LLC acquired a new stake in Okta in the first quarter valued at approximately $1,232,000. APG Asset Management N.V. lifted its stake in Okta by 37.3% in the first quarter. APG Asset Management N.V. now owns 7,000 shares of the company’s stock valued at $950,000 after acquiring an additional 1,900 shares during the last quarter. Raymond James Trust N.A. lifted its stake in Okta by 33.7% in the first quarter. Raymond James Trust N.A. now owns 2,307 shares of the company’s stock valued at $349,000 after acquiring an additional 581 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Okta by 3.7% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 22,788 shares of the company’s stock valued at $3,440,000 after acquiring an additional 808 shares during the last quarter. Finally, Cibc World Market Inc. lifted its stake in Okta by 7.9% in the first quarter. Cibc World Market Inc. now owns 3,297 shares of the company’s stock valued at $498,000 after acquiring an additional 240 shares during 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 engages in the provision of an identity management platform for enterprises. It operates through the United States and International geographical segments. The firm’s products include single sign-on, multi-factor authentication, API access management, authentication, user management, and lifecycle management.