Brokerages Set Okta, Inc. (NASDAQ:OKTA) PT at $105.58

Okta, Inc. (NASDAQ:OKTA) has earned a consensus rating of “Hold” from the thirty-one research firms that are presently covering the firm, MarketBeat Ratings reports. Nineteen analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $105.58.

OKTA has been the topic of a number of recent research reports. Mizuho increased their target price on Okta from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, May 17th. JPMorgan Chase & Co. lifted their price objective on shares of Okta from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 target price on shares of Okta in a report on Monday, June 17th. Guggenheim reiterated a “buy” rating and set a $130.00 price target on shares of Okta in a research note on Tuesday, June 25th. Finally, BMO Capital Markets lowered their price objective on Okta from $110.00 to $100.00 and set a “market perform” rating for the company in a research note on Monday, June 3rd.

Insider Transactions at Okta

In related news, insider Larissa Schwartz sold 2,795 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $92.02, for a total transaction of $257,195.90. Following the sale, the insider now directly owns 27,014 shares in the company, valued at approximately $2,485,828.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Larissa Schwartz sold 2,795 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $92.02, for a total transaction of $257,195.90. Following the sale, the insider now owns 27,014 shares of the company’s stock, valued at approximately $2,485,828.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Todd Mckinnon sold 92,729 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $94.92, for a total transaction of $8,801,836.68. The disclosure for this sale can be found here. Insiders sold 365,051 shares of company stock valued at $34,411,773 over the last three months. Company insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On Okta

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in shares of Okta by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 15,719,619 shares of the company’s stock worth $1,423,097,000 after purchasing an additional 438,496 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in Okta by 19.5% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 3,405 shares of the company’s stock worth $308,000 after buying an additional 556 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Okta by 282.5% in the 1st quarter. Los Angeles Capital Management LLC now owns 248,658 shares of the company’s stock worth $26,015,000 after buying an additional 183,643 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Okta by 28.6% during the 1st quarter. Principal Financial Group Inc. now owns 13,144 shares of the company’s stock valued at $1,375,000 after buying an additional 2,925 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Okta by 639.6% during the 1st quarter. SG Americas Securities LLC now owns 70,895 shares of the company’s stock valued at $7,417,000 after buying an additional 61,309 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

Okta Stock Performance

NASDAQ:OKTA opened at $99.01 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.19. Okta has a twelve month low of $65.04 and a twelve month high of $114.50. The company has a fifty day moving average of $92.66 and a 200-day moving average of $95.08. The firm has a market capitalization of $16.66 billion, a P/E ratio of -59.29 and a beta of 1.03.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Wednesday, May 29th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.27. The firm had revenue of $617.00 million during the quarter, compared to the consensus estimate of $604.33 million. Okta had a negative net margin of 11.69% and a negative return on equity of 3.81%. As a group, sell-side analysts anticipate that Okta will post -0.28 EPS for the current year.

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.