Okta (NASDAQ:OKTA) had its price objective upped by Goldman Sachs Group from $141.00 to $144.00 in a report published on Friday, The Fly reports. The brokerage currently has a positive rating on the stock.
A number of other equities analysts have also recently issued reports on OKTA. Citigroup started coverage on Okta in a report on Monday, October 14th. They issued a buy rating and a $150.00 target price on the stock. Piper Jaffray Companies raised their target price on Okta from $135.00 to $140.00 and gave the company an overweight rating in a report on Friday. SunTrust Banks raised Okta from a hold rating to a buy rating and lifted their target price for the company from $130.00 to $134.00 in a research report on Wednesday, October 2nd. DA Davidson upgraded Okta from a neutral rating to a buy rating and upped their price target for the stock from $131.00 to $135.00 in a report on Monday, November 18th. Finally, Morgan Stanley increased their price target on shares of Okta from $107.00 to $117.00 and gave the company an equal weight rating in a research report on Thursday, August 29th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $133.72.
Shares of NASDAQ:OKTA opened at $118.31 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.12 and a current ratio of 1.12. Okta has a 52-week low of $52.05 and a 52-week high of $141.85. The business’s 50 day simple moving average is $115.21 and its two-hundred day simple moving average is $120.64. The firm has a market cap of $13.81 billion, a P/E ratio of -114.86 and a beta of 1.07.
In related news, insider Jacques Frederic Kerrest sold 300 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $130.00, for a total transaction of $39,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Benjamin A. Horowitz sold 48,899 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $115.77, for a total value of $5,661,037.23. Following the completion of the transaction, the director now owns 15,735 shares of the company’s stock, valued at approximately $1,821,640.95. The disclosure for this sale can be found here. Insiders sold a total of 366,789 shares of company stock worth $42,945,628 over the last 90 days. 14.69% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in OKTA. GQ Asset Management LLC grew its position in Okta by 8.0% in the third quarter. GQ Asset Management LLC now owns 1,397 shares of the company’s stock worth $138,000 after acquiring an additional 104 shares in the last quarter. Stephens Inc. AR increased its position in shares of Okta by 5.1% during the 2nd quarter. Stephens Inc. AR now owns 2,581 shares of the company’s stock valued at $319,000 after purchasing an additional 126 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Okta by 1.5% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 10,371 shares of the company’s stock valued at $1,281,000 after purchasing an additional 157 shares during the last quarter. Tocqueville Asset Management L.P. increased its position in shares of Okta by 0.7% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 29,325 shares of the company’s stock valued at $2,887,000 after purchasing an additional 200 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Okta by 5.2% during the 3rd quarter. Daiwa Securities Group Inc. now owns 4,010 shares of the company’s stock valued at $395,000 after buying an additional 200 shares in the last quarter. 73.02% of the stock is currently owned by hedge funds and other institutional investors.
Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.
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