Jacques Frederic Kerrest Sells 65,000 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 65,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $97.50, for a total transaction of $6,337,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Jacques Frederic Kerrest also recently made the following trade(s):

• On Tuesday, January 28th, Jacques Frederic Kerrest sold 130,000 shares of Okta stock. The stock was sold at an average price of $93.00, for a total transaction of $12,090,000.00.
• On Thursday, January 23rd, Jacques Frederic Kerrest sold 390,000 shares of Okta stock. The shares were sold at an average price of $87.09, for a total transaction of $33,965,100.00.
• On Tuesday, January 21st, Jacques Frederic Kerrest sold 3,306 shares of Okta stock. The stock was sold at an average price of $88.85, for a total value of $293,738.10.
• On Monday, December 2nd, Jacques Frederic Kerrest sold 131,426 shares of Okta stock. The stock was sold at an average price of $80.68, for a total value of $10,603,449.68.

Okta Stock Performance

Shares of Okta stock opened at $97.00 on Monday. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $114.50. The company has a market capitalization of $16.62 billion, a PE ratio of -277.14, a price-to-earnings-growth ratio of 6.58 and a beta of 1.03. The stock’s fifty day moving average is $85.99 and its two-hundred day moving average is $82.03. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Piper Sandler boosted their price target on Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Citigroup boosted their target price on shares of Okta from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Westpark Capital reaffirmed a “buy” rating and set a $140.00 target price on shares of Okta in a research note on Wednesday, December 4th. Stifel Nicolaus lifted their price target on shares of Okta from $108.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Robert W. Baird increased their price objective on shares of Okta from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. One 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. According to MarketBeat.com, Okta has an average rating of “Hold” and an average target price of $104.55.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in OKTA. Point72 Asset Management L.P. bought a new position in Okta in the 3rd quarter worth about $49,373,000. Nordea Investment Management AB raised its stake in shares of Okta by 1,150.2% during the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after acquiring an additional 382,190 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Okta by 138.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company’s stock valued at $43,721,000 after purchasing an additional 322,201 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in Okta by 232.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company’s stock worth $29,479,000 after purchasing an additional 277,084 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Okta by 105.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock worth $26,627,000 after purchasing an additional 184,107 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

About Okta

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.