Okta, Inc. (NASDAQ:OKTA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Okta, Inc. (NASDAQ:OKTA) has been assigned an average recommendation of “Moderate Buy” from the thirty-two ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $114.39.

Several equities research analysts have recently weighed in on the company. JMP Securities reiterated a “market perform” rating on shares of Okta in a research report on Wednesday, December 4th. Morgan Stanley upgraded Okta from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $92.00 to $97.00 in a research report on Monday, December 2nd. Susquehanna upped their price target on Okta from $95.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Robert W. Baird upped their price target on Okta from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. Finally, UBS Group set a $135.00 price target on Okta in a research report on Tuesday, March 4th.

Okta Trading Up 1.7 %

Shares of OKTA opened at $107.00 on Wednesday. The business’s 50-day moving average price is $92.79 and its 200-day moving average price is $82.91. Okta has a twelve month low of $70.56 and a twelve month high of $116.96. The stock has a market cap of $18.33 billion, a PE ratio of -305.71, a P/E/G ratio of 6.42 and a beta of 1.09. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Insider Transactions at Okta

In other news, insider Larissa Schwartz sold 2,704 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $80.50, for a total value of $217,672.00. Following the transaction, the insider now owns 24,462 shares in the company, valued at approximately $1,969,191. This trade represents a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brett Tighe sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total transaction of $445,000.00. Following the completion of the transaction, the chief financial officer now owns 112,533 shares in the company, valued at $10,015,437. This represents a 4.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 979,482 shares of company stock worth $88,072,216. Insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new stake in Okta in the third quarter valued at $25,000. Bank of Jackson Hole Trust bought a new stake in Okta in the fourth quarter valued at $25,000. Legacy Investment Solutions LLC bought a new stake in Okta in the third quarter valued at $32,000. TD Private Client Wealth LLC boosted its holdings in Okta by 3,507.7% in the fourth quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock valued at $37,000 after acquiring an additional 456 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in Okta in the fourth quarter valued at $40,000. 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.