Okta (NASDAQ:OKTA) Given New $145.00 Price Target at DA Davidson

Okta (NASDAQ:OKTA) had its price target lifted by DA Davidson from $125.00 to $145.00 in a report published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also recently commented on the company. BTIG Research reaffirmed a “buy” rating on shares of Okta in a research report on Tuesday, March 4th. Wells Fargo & Company increased their price objective on shares of Okta from $95.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Westpark Capital reiterated a “buy” rating and set a $140.00 target price on shares of Okta in a research report on Friday, February 28th. Citigroup increased their price target on shares of Okta from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Finally, Truist Financial boosted their price target on Okta from $92.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $117.74.

Okta Stock Performance

NASDAQ OKTA opened at $124.39 on Thursday. The company’s fifty day moving average is $107.74 and its two-hundred day moving average is $93.48. Okta has a 52-week low of $70.56 and a 52-week high of $125.48. 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 capitalization of $21.59 billion, a price-to-earnings ratio of -355.40, a P/E/G ratio of 6.42 and a beta of 0.96.

Insider Buying and Selling

In other news, CRO Jonathan James Addison sold 7,005 shares of the company’s stock in a transaction on Friday, April 11th. The shares were 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 SEC, which can be accessed through the SEC website. Also, insider Eric Robert Kelleher sold 5,895 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $113.75, for a total value of $670,556.25. Following the completion of the sale, the insider now owns 9,828 shares in the company, valued at $1,117,935. This trade represents a 37.49% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,452 shares of company stock valued at $16,347,360. Company insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of OKTA. TD Private Client Wealth LLC raised its stake in Okta by 19.6% in the first quarter. TD Private Client Wealth LLC now owns 561 shares of the company’s stock valued at $59,000 after purchasing an additional 92 shares in the last quarter. Allworth Financial LP raised its position in shares of Okta by 5.7% during the 1st quarter. Allworth Financial LP now owns 1,708 shares of the company’s stock valued at $173,000 after buying an additional 92 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Okta by 12.6% during the 1st quarter. Smartleaf Asset Management LLC now owns 824 shares of the company’s stock worth $89,000 after acquiring an additional 92 shares during the last quarter. GPS Wealth Strategies Group LLC grew its position in Okta by 7.2% in the first quarter. GPS Wealth Strategies Group LLC now owns 1,484 shares of the company’s stock worth $156,000 after acquiring an additional 100 shares in the last quarter. Finally, Frank Rimerman Advisors LLC boosted its holdings in shares of Okta by 2.4% in the 4th quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock worth $352,000 after purchasing an additional 105 shares in the last quarter. Hedge funds and other 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.