Okta, Inc. (NASDAQ:OKTA) Receives Consensus Recommendation of “Hold” from Analysts

Okta, Inc. (NASDAQ:OKTA – Get Rating) has received a consensus recommendation of “Hold” from the thirty-eight ratings firms that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and eighteen have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $84.36.

OKTA has been the subject of several research analyst reports. Cowen initiated coverage on Okta in a research report on Tuesday, December 13th. They set a “market perform” rating and a $70.00 target price for the company. Cowen assumed 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. Stifel Nicolaus increased their price target on Okta from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, March 2nd. Bank of America assumed coverage on Okta in a research note on Monday, February 13th. They set an “underperform” rating and a $64.00 price target for the company. Finally, Canaccord Genuity Group dropped 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.

Okta Stock Performance

NASDAQ:OKTA opened at $81.03 on Friday. 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 $176.18. The stock has a 50-day moving average price of $73.62 and a 200 day moving average price of $64.99. The stock has a market capitalization of $12.98 billion, a P/E ratio of -15.67 and a beta of 1.12.

Insiders Place Their Bets

In other Okta news, insider Ledger Susan St. sold 2,504 shares of the firm’s stock in a transaction on Friday, December 16th. The stock was sold at an average price of $67.41, for a total transaction of $168,794.64. Following the transaction, the insider now directly owns 67,298 shares in the company, valued at approximately $4,536,558.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Ledger Susan St. sold 2,504 shares of Okta stock in a transaction on Friday, December 16th. The stock was sold at an average price of $67.41, for a total value of $168,794.64. Following the transaction, the insider now directly owns 67,298 shares in the company, valued at approximately $4,536,558.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Jonathan T. Runyan sold 3,022 shares of Okta stock in a transaction on Friday, December 16th. The shares were sold at an average price of $67.41, for a total value of $203,713.02. Following the completion of the transaction, the general counsel now owns 465 shares in the company, valued at $31,345.65. The disclosure for this sale can be found here. Insiders have sold 11,950 shares of company stock worth $805,573 in the last ninety days. 7.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Synovus Financial Corp increased its holdings in shares of Okta by 1.5% in the 2nd quarter. Synovus Financial Corp now owns 6,978 shares of the company’s stock valued at $631,000 after acquiring an additional 103 shares during the period. Nissay Asset Management Corp Japan ADV boosted its position in shares of Okta by 0.7% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 18,281 shares of the company’s stock worth $1,249,000 after purchasing an additional 136 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Okta by 2.4% in the 2nd quarter. Captrust Financial Advisors now owns 5,953 shares of the company’s stock worth $538,000 after purchasing an additional 137 shares in the last quarter. Sunbelt Securities Inc. boosted its position in shares of Okta by 4.0% in the 4th quarter. Sunbelt Securities Inc. now owns 3,928 shares of the company’s stock worth $268,000 after purchasing an additional 151 shares in the last quarter. Finally, Toroso Investments LLC boosted its position in shares of Okta by 10.1% in the 1st quarter. Toroso Investments LLC now owns 1,717 shares of the company’s stock worth $259,000 after purchasing an additional 157 shares in the last quarter. 73.02% of the stock is currently owned by hedge funds and other institutional investors.

About Okta

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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.