Okta (NASDAQ:OKTA) Receives Buy Rating from Westpark Capital

Okta (NASDAQ:OKTA)‘s stock had its “buy” rating reaffirmed by research analysts at Westpark Capital in a report released on Friday,Benzinga reports. They currently have a $140.00 price target on the stock. Westpark Capital’s price target suggests a potential upside of 54.71% from the stock’s previous close.

OKTA has been the subject of several other research reports. Citigroup raised their price objective on shares of Okta from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Barclays boosted their price objective on Okta from $96.00 to $105.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Sanford C. Bernstein cut their price objective on Okta from $129.00 to $124.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 17th. BTIG Research lifted their target price on Okta from $98.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, BMO Capital Markets upped their price target on shares of Okta from $103.00 to $105.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $105.67.

Okta Trading Up 1.5 %

Shares of OKTA opened at $90.49 on Friday. Okta has a twelve month low of $70.56 and a twelve month high of $114.50. 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 company’s fifty day simple moving average is $89.30 and its 200-day simple moving average is $82.53. The company has a market cap of $15.51 billion, a P/E ratio of -258.54, a P/E/G ratio of 6.42 and a beta of 1.03.

Insider Transactions at Okta

In other Okta news, CEO Todd Mckinnon sold 233,028 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $82.31, for a total value of $19,180,534.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Larissa Schwartz sold 2,704 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $80.50, for a total value of $217,672.00. Following the transaction, the insider now directly owns 24,462 shares in the company, valued at approximately $1,969,191. The trade was a 9.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 980,908 shares of company stock valued at $85,025,665 in the last 90 days. Insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On Okta

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. acquired a new position in shares of Okta during the third quarter valued at about $25,000. Bank of Jackson Hole Trust purchased a new stake in Okta during the 4th quarter worth approximately $25,000. Blue Trust Inc. grew its position in Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after purchasing an additional 191 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in Okta during the 3rd quarter valued at approximately $32,000. Finally, TD Private Client Wealth LLC raised its holdings in shares of Okta by 3,507.7% in the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock worth $37,000 after buying an additional 456 shares during 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.