Okta, Inc. (NASDAQ:OKTA) CFO Sells $472,800.00 in Stock

Okta, Inc. (NASDAQ:OKTA) CFO Brett Tighe sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $94.56, for a total value of $472,800.00. Following the completion of the transaction, the chief financial officer now owns 102,533 shares in the company, valued at $9,695,520.48. This represents a 4.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Brett Tighe also recently made the following trade(s):

• On Thursday, January 23rd, Brett Tighe sold 5,000 shares of Okta stock. The stock was sold at an average price of $87.29, for a total transaction of $436,450.00.
• On Tuesday, January 21st, Brett Tighe sold 5,000 shares of Okta stock. The shares were sold at an average price of $89.00, for a total transaction of $445,000.00.

Okta Stock Performance

Shares of Okta stock opened at $93.76 on Friday. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $114.50. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The company’s fifty day moving average price is $83.72 and its two-hundred day moving average price is $82.23.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Okta from $80.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Stifel Nicolaus upped their price target on Okta from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Robert W. Baird raised their price objective on Okta from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. 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. Finally, JPMorgan Chase & Co. upgraded Okta from a “neutral” rating to an “overweight” rating and set a $100.00 price target on the stock in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $104.55.

Institutional Trading of Okta

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its holdings in Okta by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company’s stock valued at $79,503,000 after purchasing an additional 17,950 shares in the last quarter. Penserra Capital Management LLC boosted its stake in Okta by 9.8% in the 3rd quarter. Penserra Capital Management LLC now owns 767,962 shares of the company’s stock valued at $57,089,000 after buying an additional 68,757 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Okta in the third quarter valued at $49,373,000. Allspring Global Investments Holdings LLC raised its stake in Okta by 138.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company’s stock worth $43,721,000 after acquiring an additional 322,201 shares in the last quarter. Finally, Truist Financial Corp lifted its holdings in shares of Okta by 62.5% during the second quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock valued at $48,870,000 after acquiring an additional 200,770 shares during the period. Institutional investors own 86.64% of the company’s stock.

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.