Okta (NASDAQ:OKTA) Given New $113.00 Price Target at The Goldman Sachs Group

Okta (NASDAQ:OKTA) had its price objective cut by The Goldman Sachs Group from $130.00 to $113.00 in a research note published on Thursday, Benzinga reports. They currently have a buy rating on the stock.

OKTA has been the topic of several other reports. Mizuho boosted their price objective on shares of Okta from $105.00 to $110.00 and gave the company a neutral rating in a research report on Friday, May 17th. Guggenheim reaffirmed a buy rating and issued a $130.00 price objective on shares of Okta in a research report on Tuesday, June 25th. Westpark Capital reaffirmed a buy rating and issued a $140.00 price objective on shares of Okta in a research report on Thursday. JPMorgan Chase & Co. cut their price target on shares of Okta from $110.00 to $105.00 and set a neutral rating on the stock in a research report on Thursday. Finally, Wedbush reissued an outperform rating and set a $130.00 price target on shares of Okta in a research report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $106.00.

Okta Trading Down 1.0 %

OKTA opened at $78.73 on Thursday. The stock has a market capitalization of $13.24 billion, a P/E ratio of -47.14 and a beta of 1.03. Okta has a 12 month low of $65.04 and a 12 month high of $114.50. The firm’s fifty day simple moving average is $93.07 and its 200 day simple moving average is $95.52. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.19.

Insiders Place Their Bets

In other Okta news, CEO Todd Mckinnon sold 179,687 shares of the firm’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $93.42, for a total value of $16,786,359.54. Following the completion of the sale, the chief executive officer now directly owns 47,883 shares in the company, valued at $4,473,229.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Okta news, CEO Todd Mckinnon sold 179,687 shares of the firm’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $93.42, for a total value of $16,786,359.54. Following the completion of the sale, the chief executive officer now directly owns 47,883 shares in the company, valued at $4,473,229.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jacques Frederic Kerrest sold 26,618 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $100.29, for a total transaction of $2,669,519.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 365,051 shares of company stock worth $34,411,773. 7.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Okta

Several hedge funds and other institutional investors have recently made changes to their positions in OKTA. City State Bank increased its position in shares of Okta by 160.0% during the first quarter. City State Bank now owns 260 shares of the company’s stock worth $27,000 after acquiring an additional 160 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Okta during the fourth quarter worth about $29,000. EverSource Wealth Advisors LLC increased its position in shares of Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after acquiring an additional 142 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of Okta by 50.4% during the first quarter. Venturi Wealth Management LLC now owns 391 shares of the company’s stock worth $41,000 after acquiring an additional 131 shares in the last quarter. Finally, First Command Advisory Services Inc. bought a new stake in shares of Okta during the second quarter worth about $47,000. 86.64% of the stock is owned by institutional investors.

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.