Insider Selling: Okta, Inc. (NASDAQ:OKTA) Director Sells 3,306 Shares of Stock

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 3,306 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $88.85, for a total value of $293,738.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Jacques Frederic Kerrest also recently made the following trade(s):

• On Monday, December 2nd, Jacques Frederic Kerrest sold 131,426 shares of Okta stock. The stock was sold at an average price of $80.68, for a total value of $10,603,449.68.

Okta Stock Up 0.9 %

Okta stock opened at $88.86 on Friday. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $114.50. The stock’s fifty day simple moving average is $82.18 and its 200-day simple moving average is $82.16. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $15.23 billion, a P/E ratio of -253.89, a P/E/G ratio of 8.95 and a beta of 1.00.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on OKTA. Canaccord Genuity Group boosted their target price on Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. The Goldman Sachs Group boosted their target price on Okta from $97.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley upgraded Okta from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $92.00 to $97.00 in a report on Monday, December 2nd. Sanford C. Bernstein decreased their price objective on Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a report on Tuesday, December 17th. Finally, Mizuho decreased their price objective on Okta from $104.00 to $92.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Okta has an average rating of “Hold” and a consensus price target of $104.55.

Hedge Funds Weigh In On Okta

Several large investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC increased its holdings in Okta by 2.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock valued at $605,000 after buying an additional 180 shares during the last quarter. Bleakley Financial Group LLC increased its holdings in Okta by 4.6% in the third quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock valued at $306,000 after buying an additional 182 shares during the last quarter. Creative Financial Designs Inc. ADV increased its holdings in Okta by 12.4% in the third quarter. Creative Financial Designs Inc. ADV now owns 1,704 shares of the company’s stock valued at $127,000 after buying an additional 188 shares during the last quarter. Blue Trust Inc. increased its holdings in Okta by 105.5% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after buying an additional 191 shares during the last quarter. Finally, CHICAGO TRUST Co NA increased its holdings in Okta by 6.5% in the fourth quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company’s stock valued at $246,000 after buying an additional 191 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

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.