Insider Selling: Okta, Inc. (NASDAQ:OKTA) CRO Sells $708,835.95 in Stock

Okta, Inc. (NASDAQ:OKTA) CRO Jonathan James Addison sold 7,005 shares of the firm’s stock in a transaction on Friday, April 11th. The stock was sold at an average price of $101.19, for a total value of $708,835.95. Following the transaction, the executive now owns 19,067 shares of the company’s stock, valued at approximately $1,929,389.73. This represents a 26.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Okta Stock Down 0.7 %

Shares of OKTA stock traded down $0.67 during trading hours on Tuesday, hitting $100.21. 2,319,032 shares of the company were exchanged, compared to its average volume of 2,535,502. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $17.40 billion, a price-to-earnings ratio of -286.31, a P/E/G ratio of 6.42 and a beta of 1.07. Okta, Inc. has a one year low of $70.56 and a one year high of $118.07. The business’s 50-day simple moving average is $102.22 and its two-hundred day simple moving average is $88.03.

Institutional Investors Weigh In On Okta

Institutional investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. purchased a new position in Okta during the 4th quarter worth approximately $1,686,000. Stifel Financial Corp lifted its position in Okta by 56.1% in the 3rd quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock worth $2,770,000 after buying an additional 13,387 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Okta by 1,150.2% during the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after buying an additional 382,190 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Okta by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company’s stock valued at $87,903,000 after acquiring an additional 46,064 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its stake in shares of Okta by 125.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 11,244 shares of the company’s stock valued at $861,000 after buying an additional 6,265 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OKTA has been the topic of several recent analyst reports. Morgan Stanley set a $125.00 price target on shares of Okta in a research note on Tuesday, March 18th. BMO Capital Markets lifted their target price on shares of Okta from $105.00 to $130.00 and gave the company a “market perform” rating in a report on Monday, March 10th. Sanford C. Bernstein decreased their price target on shares of Okta from $129.00 to $124.00 and set an “outperform” rating for the company in a research note on Tuesday, December 17th. Citigroup increased their target price on shares of Okta from $100.00 to $110.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Finally, DA Davidson raised Okta from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $90.00 to $125.00 in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $116.09.

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.