Okta, Inc. (NASDAQ:OKTA) CFO Brett Tighe Sells 5,000 Shares

Okta, Inc. (NASDAQ:OKTA) CFO Brett Tighe sold 5,000 shares of Okta stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $94.76, for a total value of $473,800.00. Following the transaction, the chief financial officer now owns 97,533 shares in the company, valued at approximately $9,242,227.08. This trade represents a 4.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Brett Tighe also recently made the following trade(s):

• On Tuesday, January 28th, Brett Tighe sold 5,000 shares of Okta stock. The shares were sold at an average price of $94.56, for a total value of $472,800.00.
• On Thursday, January 23rd, Brett Tighe sold 5,000 shares of Okta stock. The stock was sold at an average price of $87.29, for a total transaction of $436,450.00.
• On Tuesday, January 21st, Brett Tighe sold 5,000 shares of Okta stock. The shares were sold at an average price of $89.00, for a total transaction of $445,000.00.

Okta Price Performance

Shares of OKTA opened at $97.45 on Thursday. 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 $16.70 billion, a PE ratio of -278.43, a PEG ratio of 9.52 and a beta of 1.03. The firm’s 50 day moving average price is $85.18 and its 200 day moving average price is $82.08. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $114.50.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Scotiabank reduced their target price on shares of Okta from $96.00 to $94.00 and set a “sector perform” rating for the company in a report on Tuesday, January 21st. Stifel Nicolaus raised their price objective on Okta from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Wells Fargo & Company boosted their target price on Okta from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. JMP Securities reiterated a “market perform” rating on shares of Okta in a research report on Wednesday, December 4th. Finally, Guggenheim restated a “buy” rating and set a $130.00 price objective on shares of Okta in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Okta has a consensus rating of “Hold” and a consensus target price of $104.55.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of OKTA. Charles Schwab Investment Management Inc. boosted its holdings in Okta by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company’s stock worth $79,503,000 after purchasing an additional 17,950 shares in the last quarter. Penserra Capital Management LLC boosted its stake in shares of Okta by 9.8% during the 3rd quarter. Penserra Capital Management LLC now owns 767,962 shares of the company’s stock worth $57,089,000 after acquiring an additional 68,757 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Okta during the 3rd quarter valued at about $49,373,000. Allspring Global Investments Holdings LLC raised its stake in shares of Okta by 138.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company’s stock valued at $43,721,000 after acquiring an additional 322,201 shares in the last quarter. Finally, Glenmede Trust Co. NA lifted its holdings in Okta by 17.6% in the 3rd quarter. Glenmede Trust Co. NA now owns 510,658 shares of the company’s stock worth $37,962,000 after purchasing an additional 76,588 shares during the last quarter. 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.