Okta, Inc. (NASDAQ:OKTA) Given Consensus Rating of “Hold” by Brokerages

Okta, Inc. (NASDAQ:OKTA) has earned an average rating of “Hold” from the thirty-two research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $104.45.

Several equities research analysts recently issued reports on OKTA shares. Mizuho decreased their price target on shares of Okta from $104.00 to $92.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. JMP Securities reiterated a “market perform” rating on shares of Okta in a report on Wednesday, December 4th. Jefferies Financial Group cut their price objective on Okta from $100.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday, December 19th. The Goldman Sachs Group boosted their price objective on Okta from $97.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Citigroup increased their target price on Okta from $90.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th.

Insiders Place Their Bets

In other Okta news, CRO Jonathan James Addison sold 9,850 shares of Okta stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $77.63, for a total transaction of $764,655.50. Following the completion of the transaction, the executive now owns 14,601 shares in the company, valued at approximately $1,133,475.63. The trade was a 40.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Larissa Schwartz sold 2,797 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $77.63, for a total value of $217,131.11. Following the completion of the sale, the insider now directly owns 24,916 shares of the company’s stock, valued at approximately $1,934,229.08. This trade represents a 10.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 371,397 shares of company stock worth $28,539,445. Corporate insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of OKTA. Atria Wealth Solutions Inc. boosted its holdings in Okta by 75.4% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 11,477 shares of the company’s stock worth $1,074,000 after acquiring an additional 4,932 shares during the last quarter. First Command Advisory Services Inc. purchased a new position in Okta during the second quarter worth about $47,000. Railway Pension Investments Ltd grew its position in Okta by 27.7% in the 2nd quarter. Railway Pension Investments Ltd now owns 225,296 shares of the company’s stock worth $21,090,000 after purchasing an additional 48,900 shares in the last quarter. Atomi Financial Group Inc. purchased a new stake in Okta in the 2nd quarter valued at about $206,000. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Okta by 11.8% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 16,285 shares of the company’s stock worth $1,524,000 after buying an additional 1,721 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Stock Performance

Okta stock opened at $83.19 on Friday. 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 $14.26 billion, a PE ratio of -237.69, a P/E/G ratio of 8.61 and a beta of 1.00. Okta has a 12-month low of $70.56 and a 12-month high of $114.50. The business’s 50-day moving average price is $77.83 and its two-hundred day moving average price is $83.20.

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.