Okta, Inc. (NASDAQ:OKTA) Insider Larissa Schwartz Sells 2,790 Shares

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 2,790 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.01, for a total transaction of $206,487.90. Following the completion of the transaction, the insider now directly owns 27,713 shares of the company’s stock, valued at approximately $2,051,039.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, August 13th, Larissa Schwartz sold 2,795 shares of Okta stock. The shares were sold at an average price of $92.02, for a total value of $257,195.90.
• On Tuesday, July 16th, Larissa Schwartz sold 2,792 shares of Okta stock. The shares were sold at an average price of $99.40, for a total transaction of $277,524.80.

Okta Price Performance

Shares of NASDAQ:OKTA opened at $74.21 on Wednesday. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18. The stock’s fifty day simple moving average is $88.92 and its two-hundred day simple moving average is $94.45. Okta, Inc. has a 1-year low of $65.04 and a 1-year high of $114.50. The stock has a market cap of $12.48 billion, a PE ratio of -44.44, a price-to-earnings-growth ratio of 40.71 and a beta of 1.02.

Hedge Funds Weigh In On Okta

Several large investors have recently bought and sold shares of the stock. American Trust lifted its stake in Okta by 118.7% during the 2nd quarter. American Trust now owns 7,122 shares of the company’s stock valued at $667,000 after acquiring an additional 3,865 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Okta during the 2nd quarter valued at $460,000. Creekside Partners purchased a new stake in shares of Okta during the 2nd quarter valued at $250,000. Truist Financial Corp increased its position in shares of Okta by 62.5% during the 2nd quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock valued at $48,870,000 after purchasing an additional 200,770 shares during the last quarter. Finally, Invst LLC purchased a new stake in shares of Okta during the 2nd quarter valued at $226,000. 86.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Robert W. Baird decreased their target price on shares of Okta from $108.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 target price on shares of Okta in a research report on Thursday, August 29th. Westpark Capital restated a “buy” rating and set a $140.00 price target on shares of Okta in a report on Thursday, August 29th. Needham & Company LLC restated a “buy” rating and set a $130.00 price target on shares of Okta in a report on Thursday, August 29th. Finally, Bank of America cut Okta from a “buy” rating to an “underperform” rating and cut their price target for the stock from $135.00 to $75.00 in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $105.14.

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.