Okta, Inc. (NASDAQ:OKTA) Given Consensus Rating of “Hold” by Brokerages

Okta, Inc. (NASDAQ:OKTA) has been given an average rating of “Hold” by the thirty-one brokerages that are presently covering the company, MarketBeat Ratings reports. Twenty investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $100.39.

A number of brokerages have recently commented on OKTA. Oppenheimer raised their price objective on shares of Okta from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. raised their price objective on shares of Okta from $74.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Jefferies Financial Group reaffirmed a “hold” rating and set a $95.00 price objective (up previously from $85.00) on shares of Okta in a research note on Friday, January 5th. Citigroup raised their price objective on shares of Okta from $75.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Finally, Piper Sandler raised their price objective on shares of Okta from $85.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th.

Okta Trading Down 2.5 %

Shares of NASDAQ:OKTA opened at $98.26 on Friday. Okta has a 52-week low of $65.04 and a 52-week high of $114.50. The stock has a market cap of $16.45 billion, a price-to-earnings ratio of -45.28 and a beta of 1.00. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average price of $97.98 and a 200-day moving average price of $85.42.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.35. Okta had a negative return on equity of 5.69% and a negative net margin of 15.69%. The firm had revenue of $605.00 million during the quarter, compared to analysts’ expectations of $586.25 million. Equities analysts predict that Okta will post -1.51 EPS for the current year.

Insider Transactions at Okta

In other news, CAO Shibu Ninan sold 4,279 shares of Okta stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $104.14, for a total transaction of $445,615.06. Following the transaction, the chief accounting officer now owns 4,111 shares in the company, valued at approximately $428,119.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Shibu Ninan sold 4,279 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total value of $445,615.06. Following the sale, the chief accounting officer now directly owns 4,111 shares in the company, valued at approximately $428,119.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Larissa Schwartz sold 872 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $82.83, for a total transaction of $72,227.76. Following the completion of the sale, the insider now owns 22,125 shares in the company, valued at $1,832,613.75. The disclosure for this sale can be found here. Insiders have sold a total of 12,651 shares of company stock worth $1,278,218 in the last quarter. Company insiders own 7.36% of the company’s stock.

Institutional Trading of Okta

Institutional investors and hedge funds have recently bought and sold shares of the stock. Northern Trust Corp raised its holdings in Okta by 3.0% in the 3rd quarter. Northern Trust Corp now owns 944,726 shares of the company’s stock valued at $77,005,000 after buying an additional 27,577 shares during the period. Pearl River Capital LLC grew its position in Okta by 643.6% in the 3rd quarter. Pearl River Capital LLC now owns 41,982 shares of the company’s stock valued at $3,422,000 after acquiring an additional 36,336 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Okta by 2,721.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 176,071 shares of the company’s stock valued at $15,940,000 after acquiring an additional 169,830 shares in the last quarter. Aigen Investment Management LP acquired a new position in Okta in the 3rd quarter valued at about $923,000. Finally, My Personal CFO LLC grew its position in Okta by 14.0% in the 4th quarter. My Personal CFO LLC now owns 120,077 shares of the company’s stock valued at $10,871,000 after acquiring an additional 14,753 shares in the last quarter. 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.