Okta (NASDAQ:OKTA) Given Hold Rating at Jefferies Financial Group

Okta (NASDAQ:OKTA)‘s stock had its “hold” rating reissued by investment analysts at Jefferies Financial Group in a research note issued on Friday, MarketBeat.com reports. They currently have a $135.00 target price on the stock, up from their prior target price of $110.00. Jefferies Financial Group’s target price would suggest a potential upside of 9.12% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. The Goldman Sachs Group upped their price target on shares of Okta from $107.00 to $123.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Roth Capital initiated coverage on shares of Okta in a report on Wednesday, April 23rd. They issued a “buy” rating and a $119.00 price objective for the company. KeyCorp lifted their price target on shares of Okta from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Stifel Nicolaus raised their price objective on shares of Okta from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Finally, Oppenheimer boosted their price target on shares of Okta from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $120.17.

Okta Stock Performance

Shares of NASDAQ:OKTA opened at $123.72 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. Okta has a one year low of $70.56 and a one year high of $127.57. The business’s 50-day simple moving average is $109.45 and its 200 day simple moving average is $95.88. The company has a market cap of $21.48 billion, a P/E ratio of -353.49, a PEG ratio of 6.42 and a beta of 0.96.

Insider Activity at Okta

In other Okta news, insider Larissa Schwartz sold 11,552 shares of Okta stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the transaction, the insider now directly owns 22,125 shares of the company’s stock, valued at $2,524,241.25. The trade was a 34.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Jonathan James Addison sold 7,005 shares of the stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $101.19, for a total transaction of $708,835.95. Following the completion of the sale, the executive now directly owns 19,067 shares in the company, valued at approximately $1,929,389.73. This represents a 26.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 154,452 shares of company stock worth $16,347,360 over the last three months. Company insiders own 5.68% of the company’s stock.

Hedge Funds Weigh In On Okta

A number of hedge funds have recently modified their holdings of OKTA. Bank of Jackson Hole Trust purchased a new stake in shares of Okta in the fourth quarter valued at about $25,000. Wolff Wiese Magana LLC grew its position in Okta by 167.4% during the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company’s stock worth $26,000 after buying an additional 154 shares during the period. Wayfinding Financial LLC purchased a new position in shares of Okta in the first quarter valued at $27,000. Harbour Investments Inc. raised its position in shares of Okta by 152.4% during the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock worth $27,000 after purchasing an additional 157 shares during the last quarter. Finally, Rossby Financial LCC purchased a new position in Okta in the 1st quarter valued at about $31,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

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.