Okta (NASDAQ:OKTA) PT Lowered to $108.00

Okta (NASDAQ:OKTA) had its price objective decreased by UBS Group from $120.00 to $108.00 in a research note published on Thursday, Benzinga reports. UBS Group currently has a buy rating on the stock.

Other analysts have also issued research reports about the company. Needham & Company LLC reiterated a buy rating and issued a $130.00 target price on shares of Okta in a research note on Thursday. Westpark Capital restated a buy rating and issued a $140.00 price target on shares of Okta in a report on Thursday. Susquehanna decreased their price objective on shares of Okta from $115.00 to $110.00 and set a neutral rating for the company 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 research note on Monday, June 17th. Finally, Wells Fargo & Company reduced their target price on shares of Okta from $100.00 to $90.00 and set an equal weight rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of $106.00.

Okta Trading Down 1.0 %

Shares of NASDAQ OKTA opened at $78.73 on Thursday. Okta has a fifty-two week low of $65.04 and a fifty-two week high of $114.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.73 and a current ratio of 1.73. The company has a market cap of $13.24 billion, a price-to-earnings ratio of -47.14 and a beta of 1.03. The business’s 50 day moving average price is $93.07 and its 200-day moving average price is $95.52.

Insiders Place Their Bets

In related news, Director Jacques Frederic Kerrest sold 1,552 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $86.99, for a total value of $135,008.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Todd Mckinnon sold 179,687 shares of the business’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of $93.42, for a total transaction of $16,786,359.54. Following the sale, the chief executive officer now directly owns 47,883 shares of the company’s stock, valued at $4,473,229.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jacques Frederic Kerrest sold 1,552 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $86.99, for a total value of $135,008.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 365,051 shares of company stock valued at $34,411,773. 7.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Okta

Large investors have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise lifted its holdings in shares of Okta by 4.3% during the first quarter. Banque Cantonale Vaudoise now owns 2,933 shares of the company’s stock worth $307,000 after purchasing an additional 122 shares during the period. Caprock Group LLC increased its holdings in Okta by 4.7% in the 2nd quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock worth $267,000 after buying an additional 129 shares during the period. National Bank of Canada FI raised its position in Okta by 11.0% during the 2nd quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock worth $124,000 after buying an additional 130 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in Okta by 50.4% during the 1st quarter. Venturi Wealth Management LLC now owns 391 shares of the company’s stock valued at $41,000 after acquiring an additional 131 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Okta by 71.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after acquiring an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

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.