Jacques Frederic Kerrest Sells 130,000 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 130,000 shares of Okta stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $105.00, for a total value of $13,650,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Jacques Frederic Kerrest also recently made the following trade(s):

• On Wednesday, February 5th, Jacques Frederic Kerrest sold 65,000 shares of Okta stock. The stock was sold at an average price of $97.50, for a total value of $6,337,500.00.
• On Tuesday, January 28th, Jacques Frederic Kerrest sold 130,000 shares of Okta stock. The stock was sold at an average price of $93.00, for a total value of $12,090,000.00.
• On Thursday, January 23rd, Jacques Frederic Kerrest sold 390,000 shares of Okta stock. The stock was sold at an average price of $87.09, for a total value of $33,965,100.00.
• On Tuesday, January 21st, Jacques Frederic Kerrest sold 3,306 shares of Okta stock. The stock was sold at an average price of $88.85, for a total value of $293,738.10.

Okta Price Performance

Shares of OKTA opened at $112.44 on Friday. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $116.96. The business has a 50-day simple moving average of $91.10 and a two-hundred day simple moving average of $82.90. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. The stock has a market cap of $19.27 billion, a PE ratio of -321.26, a PEG ratio of 6.42 and a beta of 1.09.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on OKTA. UBS Group lifted their price objective on Okta from $108.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Westpark Capital reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Okta in a report on Friday, February 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Okta in a report on Tuesday. Guggenheim reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Okta in a report on Wednesday, December 4th. Finally, Wells Fargo & Company lifted their price objective on Okta from $95.00 to $100.00 and gave the company an “equal weight” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $113.10.

Institutional Investors Weigh In On Okta

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Frank Rimerman Advisors LLC increased its stake in shares of Okta by 2.4% in the fourth quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock valued at $352,000 after buying an additional 105 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Okta by 1.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 7,873 shares of the company’s stock valued at $620,000 after buying an additional 136 shares during the period. Stephens Inc. AR increased its stake in shares of Okta by 5.0% in the fourth quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock valued at $260,000 after buying an additional 157 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in shares of Okta by 3.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 5,646 shares of the company’s stock valued at $445,000 after buying an additional 171 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Okta by 2.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock valued at $605,000 after buying an additional 180 shares during the period. Institutional investors and hedge funds 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.