Okta, Inc. (NASDAQ:OKTA) Receives Average Recommendation of “Moderate Buy” from Brokerages

Okta, Inc. (NASDAQ:OKTA) has received a consensus recommendation of “Moderate Buy” from the thirty-five brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $116.12.

A number of brokerages have weighed in on OKTA. Robert W. Baird increased their price target on shares of Okta from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. The Goldman Sachs Group lifted their price target on Okta from $107.00 to $123.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 price target on shares of Okta in a report on Tuesday, March 4th. Stifel Nicolaus lifted their price objective on Okta from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Finally, Canaccord Genuity Group upped their price objective on shares of Okta from $94.00 to $100.00 and gave the company a “hold” rating in a research report on Tuesday, March 4th.

Insider Buying and Selling at Okta

In other news, CFO Brett Tighe sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $94.56, for a total transaction of $472,800.00. Following the completion of the sale, the chief financial officer now owns 102,533 shares in the company, valued at $9,695,520.48. The trade was a 4.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jacques Frederic Kerrest sold 130,000 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $93.00, for a total value of $12,090,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 362,192 shares of company stock valued at $35,988,856. 7.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Okta

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wolff Wiese Magana LLC grew its holdings in shares of Okta by 167.4% in the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company’s stock valued at $26,000 after acquiring an additional 154 shares in the last quarter. Bank of Jackson Hole Trust bought a new stake in Okta in the 4th quarter valued at about $25,000. Center for Financial Planning Inc. purchased a new position in shares of Okta in the first quarter worth about $47,000. TD Private Client Wealth LLC lifted its stake in shares of Okta by 3,507.7% during the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock valued at $37,000 after buying an additional 456 shares in the last quarter. Finally, CX Institutional bought a new stake in shares of Okta during the 1st quarter valued at $52,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta Trading Up 4.2 %

NASDAQ:OKTA opened at $98.33 on Thursday. The firm has a market cap of $17.07 billion, a price-to-earnings ratio of -280.94, a P/E/G ratio of 6.42 and a beta of 1.07. Okta has a 12 month low of $70.56 and a 12 month high of $118.07. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $102.19 and its 200-day moving average is $89.00.

Okta Company Profile

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.