Okta (NASDAQ:OKTA) Price Target Raised to $105.00

Okta (NASDAQ:OKTA) had its price objective boosted by Barclays from $96.00 to $105.00 in a research note issued to investors on Thursday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

OKTA has been the subject of several other research reports. KeyCorp lifted their price objective on Okta from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Mizuho lifted their price objective on Okta from $100.00 to $110.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Citigroup lifted their price objective on Okta from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Piper Sandler lifted their price objective on Okta from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Finally, Wells Fargo & Company lifted their price objective on Okta from $80.00 to $95.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. One equities research 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 stock has an average rating of “Hold” and an average price target of $106.13.

Okta Price Performance

Okta stock opened at $92.75 on Thursday. 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 has a market capitalization of $15.89 billion, a PE ratio of -265.00, a price-to-earnings-growth ratio of 6.42 and a beta of 1.03. Okta has a one year low of $70.56 and a one year high of $114.50. The business has a 50 day simple moving average of $88.64 and a 200 day simple moving average of $82.53.

Insider Buying and Selling at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 65,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $97.50, for a total value of $6,337,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Larissa Schwartz sold 2,740 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $97.59, for a total value of $267,396.60. Following the completion of the transaction, the insider now directly owns 22,125 shares of the company’s stock, valued at approximately $2,159,178.75. The trade was a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 980,908 shares of company stock valued at $85,025,665. Company insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Forum Financial Management LP acquired a new position in shares of Okta during the fourth quarter worth about $333,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Okta during the fourth quarter worth about $40,000. PharVision Advisers LLC acquired a new position in shares of Okta during the fourth quarter worth about $299,000. Woodline Partners LP acquired a new position in shares of Okta during the fourth quarter worth about $2,199,000. Finally, Vident Advisory LLC boosted its position in shares of Okta by 27.1% during the fourth quarter. Vident Advisory LLC now owns 111,463 shares of the company’s stock worth $8,783,000 after buying an additional 23,752 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

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.