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

Okta, Inc. (NASDAQ:OKTA) CFO Brett Tighe sold 5,000 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $87.29, for a total transaction of $436,450.00. Following the completion of the transaction, the chief financial officer now owns 107,533 shares of the company’s stock, valued at $9,386,555.57. This represents a 4.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 value of $445,000.00.

Okta Price Performance

Shares of Okta stock opened at $90.90 on Tuesday. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $114.50. The firm’s 50-day moving average price is $82.54 and its two-hundred day moving average price is $82.07. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $15.58 billion, a price-to-earnings ratio of -259.71, a P/E/G ratio of 8.95 and a beta of 1.00.

Institutional Investors Weigh In On Okta

Hedge funds and other institutional investors have recently bought and sold shares of the business. Greenwood Capital Associates LLC acquired a new position in Okta in the fourth quarter worth $209,000. GPS Wealth Strategies Group LLC lifted its position in Okta by 169.3% during the 4th quarter. GPS Wealth Strategies Group LLC now owns 1,384 shares of the company’s stock worth $109,000 after buying an additional 870 shares in the last quarter. Spire Wealth Management grew its holdings in Okta by 696.7% during the 4th quarter. Spire Wealth Management now owns 2,390 shares of the company’s stock worth $188,000 after acquiring an additional 2,090 shares during the last quarter. Caprock Group LLC increased its position in Okta by 6.5% in the 4th quarter. Caprock Group LLC now owns 4,032 shares of the company’s stock valued at $318,000 after acquiring an additional 246 shares in the last quarter. Finally, Alta Wealth Advisors LLC raised its stake in shares of Okta by 67.4% in the fourth quarter. Alta Wealth Advisors LLC now owns 5,030 shares of the company’s stock worth $396,000 after acquiring an additional 2,025 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on OKTA. The Goldman Sachs Group lifted their price target on shares of Okta from $97.00 to $107.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Barclays upped their price objective on shares of Okta from $81.00 to $96.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. KeyCorp raised shares of Okta from a “sector weight” rating to an “overweight” rating and set a $115.00 target price on the stock in a research report on Thursday, December 19th. Jefferies Financial Group reduced their price target on shares of Okta from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. Finally, Canaccord Genuity Group lifted their price objective on shares of Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $104.55.

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.