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

Okta, Inc. (NASDAQ:OKTA) has received a consensus rating of “Hold” from the twenty-nine research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, sixteen have assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $98.45.

A number of research firms recently weighed in on OKTA. Jefferies Financial Group lowered their price target on Okta from $100.00 to $85.00 and set a “hold” rating on the stock in a report on Tuesday, September 24th. Morgan Stanley lowered their target price on Okta from $100.00 to $92.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. The Goldman Sachs Group lowered their target price on Okta from $113.00 to $97.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Stifel Nicolaus lowered their target price on Okta from $122.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Finally, Canaccord Genuity Group lowered their target price on Okta from $90.00 to $82.00 and set a “hold” rating on the stock in a report on Friday, October 18th.

Okta Stock Performance

OKTA opened at $77.56 on Monday. The stock has a market cap of $13.17 billion, a P/E ratio of -92.33, a P/E/G ratio of 18.99 and a beta of 1.02. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83. The stock’s 50 day simple moving average is $74.94 and its 200 day simple moving average is $84.67. Okta has a 1-year low of $66.69 and a 1-year high of $114.50.

Insider Buying and Selling

In other Okta news, insider Larissa Schwartz sold 2,791 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $71.50, for a total value of $199,556.50. Following the transaction, the insider now directly owns 22,125 shares of the company’s stock, valued at $1,581,937.50. This trade represents a 11.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Jonathan James Addison sold 9,850 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $77.63, for a total value of $764,655.50. Following the completion of the transaction, the executive now directly owns 14,601 shares in the company, valued at $1,133,475.63. This trade represents a 40.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 475,789 shares of company stock valued at $35,701,361. 7.00% of the stock is currently owned by company insiders.

Institutional Trading of Okta

Several large investors have recently modified their holdings of the business. Caprock Group LLC grew its stake in shares of Okta by 4.7% during the second quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock valued at $267,000 after acquiring an additional 129 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Okta by 11.0% during the second quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock valued at $124,000 after acquiring an additional 130 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Okta by 71.4% in the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after purchasing an additional 142 shares in the last quarter. CWM LLC grew its stake in Okta by 5.3% in the second quarter. CWM LLC now owns 2,910 shares of the company’s stock worth $272,000 after purchasing an additional 147 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its stake in Okta by 4.6% in the third quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock worth $306,000 after purchasing an additional 182 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

About Okta

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.