Larissa Schwartz Sells 2,704 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 2,704 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $89.58, for a total value of $242,224.32. Following the completion of the transaction, the insider now directly owns 23,311 shares of the company’s stock, valued at approximately $2,088,199.38. The trade was a 10.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Larissa Schwartz also recently made the following trade(s):

• On Monday, December 30th, Larissa Schwartz sold 2,704 shares of Okta stock. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00.
• On Monday, November 4th, Larissa Schwartz sold 2,791 shares of Okta stock. The stock was sold at an average price of $71.50, for a total value of $199,556.50.

Okta Stock Performance

Shares of Okta stock traded up $0.79 during trading on Friday, reaching $88.86. The company’s stock had a trading volume of 2,097,144 shares, compared to its average volume of 2,550,282. Okta, Inc. has a one year low of $70.56 and a one year high of $114.50. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The firm has a market cap of $15.23 billion, a price-to-earnings ratio of -253.89, a price-to-earnings-growth ratio of 8.95 and a beta of 1.00. The business’s fifty day moving average price is $81.88 and its 200-day moving average price is $82.31.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on OKTA shares. Stifel Nicolaus lifted their price objective on shares of Okta from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. JMP Securities reaffirmed a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft lowered Okta from a “buy” rating to a “hold” rating and cut their target price for the stock from $115.00 to $85.00 in a research report on Tuesday, November 12th. Morgan Stanley upgraded Okta from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $92.00 to $97.00 in a research report on Monday, December 2nd. Finally, Citigroup upped their price objective on shares of Okta from $95.00 to $100.00 and gave the company a “neutral” rating in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Okta presently has an average rating of “Hold” and a consensus target price of $104.55.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Paloma Partners Management Co acquired a new stake in shares of Okta in the third quarter worth $969,000. SG Americas Securities LLC boosted its holdings in Okta by 122.3% in the 3rd quarter. SG Americas Securities LLC now owns 17,021 shares of the company’s stock valued at $1,265,000 after purchasing an additional 9,364 shares during the period. Truist Financial Corp grew its position in Okta by 62.5% in the 2nd quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock worth $48,870,000 after purchasing an additional 200,770 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of Okta by 56.1% during the 3rd quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock worth $2,770,000 after purchasing an additional 13,387 shares during the period. Finally, Nordea Investment Management AB increased its holdings in shares of Okta by 1,150.2% during the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock worth $33,146,000 after purchasing an additional 382,190 shares during the period. 86.64% of the stock is owned by institutional investors.

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.