Okta, Inc. (NASDAQ:OKTA) Insider Sells $267,396.60 in Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 2,740 shares of Okta stock in a transaction on 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 $2,159,178.75. This represents a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Larissa Schwartz also recently made the following trade(s):

• On Wednesday, January 22nd, Larissa Schwartz sold 2,704 shares of Okta stock. The shares were sold at an average price of $89.58, for a total value of $242,224.32.
• On Monday, December 30th, Larissa Schwartz sold 2,704 shares of Okta stock. The shares were sold at an average price of $80.50, for a total value of $217,672.00.

Okta Stock Down 4.0 %

Shares of Okta stock opened at $96.29 on Friday. Okta, Inc. has a one year low of $70.56 and a one year 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 stock’s 50-day moving average is $87.42 and its 200 day moving average is $82.26. The firm has a market cap of $16.50 billion, a price-to-earnings ratio of -275.11, a PEG ratio of 6.58 and a beta of 1.03.

Institutional Investors Weigh In On Okta

Several institutional investors and hedge funds have recently made changes to their positions in OKTA. Sanctuary Advisors LLC bought a new stake in shares of Okta during the 2nd quarter valued at about $460,000. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Okta by 333.3% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,300 shares of the company’s stock worth $97,000 after buying an additional 1,000 shares during the period. Creative Planning raised its stake in Okta by 661.0% during the 3rd quarter. Creative Planning now owns 86,681 shares of the company’s stock worth $6,444,000 after buying an additional 75,290 shares during the period. NBC Securities Inc. raised its stake in Okta by 1,379.5% during the 3rd quarter. NBC Securities Inc. now owns 2,885 shares of the company’s stock worth $214,000 after buying an additional 2,690 shares during the period. Finally, Swedbank AB raised its stake in Okta by 0.8% during the 3rd quarter. Swedbank AB now owns 80,011 shares of the company’s stock worth $5,948,000 after buying an additional 609 shares during the period. Institutional investors own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

OKTA has been the subject of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $115.00 price target on shares of Okta in a report on Tuesday, February 4th. JMP Securities reissued a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. Canaccord Genuity Group boosted their price target on Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. KeyCorp boosted their price target on Okta from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Finally, Canaccord Genuity Group boosted their price target on Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $105.45.

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.