Okta (NASDAQ:OKTA – Get Rating) had its price objective increased by research analysts at Piper Sandler from $90.00 to $100.00 in a research report issued to clients and investors on Thursday, The Fly reports. Piper Sandler’s price objective points to a potential upside of 16.89% from the company’s previous close.
OKTA has been the topic of a number of other research reports. The Goldman Sachs Group began coverage on shares of Okta in a research note on Tuesday, February 14th. They set a “sell” rating and a $70.00 price objective on the stock. Royal Bank of Canada increased their target price on shares of Okta from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday. Cowen initiated coverage on Okta in a research note on Tuesday, December 13th. They issued a “market perform” rating and a $70.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $90.00 price target on shares of Okta in a research report on Monday, February 27th. Finally, Wolfe Research cut their price objective on Okta from $100.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, November 11th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $84.36.
Okta Price Performance
NASDAQ:OKTA opened at $85.55 on Thursday. The firm’s fifty day moving average is $71.89 and its two-hundred day moving average is $65.54. The firm has a market cap of $13.70 billion, a price-to-earnings ratio of -16.55 and a beta of 1.12. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.30 and a current ratio of 2.30. Okta has a one year low of $44.12 and a one year high of $176.18.
In related news, CEO Todd Mckinnon sold 3,771 shares of the stock in a transaction that occurred on Friday, December 16th. The shares were sold at an average price of $67.41, for a total transaction of $254,203.11. Following the completion of the transaction, the chief executive officer now owns 18,662 shares of the company’s stock, valued at approximately $1,258,005.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Okta news, insider Ledger Susan St. sold 2,504 shares of Okta stock in a transaction dated Friday, December 16th. The stock was sold at an average price of $67.41, for a total value of $168,794.64. Following the completion of the transaction, the insider now directly owns 67,298 shares of the company’s stock, valued at approximately $4,536,558.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Todd Mckinnon sold 3,771 shares of the business’s stock in a transaction dated Friday, December 16th. The stock was sold at an average price of $67.41, for a total transaction of $254,203.11. Following the sale, the chief executive officer now owns 18,662 shares in the company, valued at $1,258,005.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,950 shares of company stock valued at $805,573. Company insiders own 7.60% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in OKTA. Van ECK Associates Corp acquired a new position in shares of Okta in the third quarter worth $518,000. Rafferty Asset Management LLC boosted its holdings in Okta by 74.4% in the second quarter. Rafferty Asset Management LLC now owns 108,853 shares of the company’s stock valued at $9,840,000 after purchasing an additional 46,455 shares during the period. Westpac Banking Corp grew its stake in Okta by 405.0% during the 3rd quarter. Westpac Banking Corp now owns 51,497 shares of the company’s stock worth $2,929,000 after purchasing an additional 41,300 shares in the last quarter. Thomasville National Bank increased its holdings in Okta by 76.1% during the 3rd quarter. Thomasville National Bank now owns 62,556 shares of the company’s stock worth $3,558,000 after purchasing an additional 27,029 shares during the period. Finally, Koshinski Asset Management Inc. acquired a new stake in Okta in the 3rd quarter valued at about $340,000. Institutional investors and hedge funds own 73.02% of the company’s stock.
Okta, Inc engages in the provision of an identity management platform for enterprises. It operates through the United States and International geographical segments. The firm’s products include single sign-on, multi-factor authentication, API access management, authentication, user management, and lifecycle management.
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