Okta, Inc. (NASDAQ:OKTA) Insider Sells $670,556.25 in Stock

Okta, Inc. (NASDAQ:OKTA) insider Eric Robert Kelleher sold 5,895 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $113.75, for a total value of $670,556.25. Following the transaction, the insider now directly owns 9,828 shares of the company’s stock, valued at $1,117,935. This trade represents a 37.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Okta Price Performance

Okta stock traded down $2.72 during mid-day trading on Tuesday, reaching $112.92. 2,042,511 shares of the company were exchanged, compared to its average volume of 2,344,861. The company has a fifty day simple moving average of $95.21 and a 200-day simple moving average of $83.42. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $116.96. 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 firm has a market cap of $19.35 billion, a PE ratio of -322.63, a PEG ratio of 6.42 and a beta of 1.09.

Analyst Upgrades and Downgrades

Several brokerages recently commented on OKTA. Oppenheimer increased their price target on Okta from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, March 4th. The Goldman Sachs Group raised their price objective on Okta from $107.00 to $123.00 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Wells Fargo & Company raised their price objective on Okta from $95.00 to $100.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 4th. Guggenheim reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Okta in a research report on Wednesday, December 4th. Finally, KeyCorp raised their price objective on Okta from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Okta has a consensus rating of “Moderate Buy” and a consensus target price of $115.29.

Hedge Funds Weigh In On Okta

A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Okta in the 4th quarter valued at $234,992,000. Ameriprise Financial Inc. boosted its holdings in shares of Okta by 2,135.7% in the 4th quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company’s stock valued at $150,845,000 after purchasing an additional 1,828,630 shares in the last quarter. Alyeska Investment Group L.P. boosted its holdings in shares of Okta by 2,309.4% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,772,751 shares of the company’s stock valued at $139,693,000 after purchasing an additional 1,699,176 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in shares of Okta by 236.8% in the 4th quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company’s stock valued at $176,271,000 after purchasing an additional 1,572,786 shares in the last quarter. Finally, Sachem Head Capital Management LP acquired a new stake in shares of Okta in the 4th quarter valued at $105,592,000. 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.