Okta, Inc. (NASDAQ:OKTA) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Okta, Inc. (NASDAQ:OKTA – Get Rating) have received a consensus rating of “Hold” from the thirty-nine analysts that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nineteen have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $86.71.

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Okta from $76.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, March 2nd. Oppenheimer boosted their target price on shares of Okta from $95.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, April 17th. Robert W. Baird boosted their target price on shares of Okta from $92.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, March 31st. DA Davidson boosted their target price on shares of Okta from $60.00 to $80.00 in a research report on Thursday, March 2nd. Finally, Stifel Nicolaus boosted their target price on shares of Okta from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, March 2nd.

Okta Trading Up 1.5 %

OKTA stock opened at $84.67 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.20 and a quick ratio of 2.20. The company has a fifty day moving average price of $78.52 and a two-hundred day moving average price of $71.42. Okta has a one year low of $44.12 and a one year high of $111.35. The stock has a market cap of $13.66 billion, a price-to-earnings ratio of -16.38 and a beta of 1.15.

Okta (NASDAQ:OKTA – Get Rating) last released its quarterly earnings data on Wednesday, March 1st. The company reported ($0.70) EPS for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.11. Okta had a negative net margin of 43.87% and a negative return on equity of 12.53%. The firm had revenue of $510.00 million during the quarter, compared to analysts’ expectations of $488.99 million. Equities analysts anticipate that Okta will post -3.05 EPS for the current year.

Insider Activity

In other news, CFO Brett Tighe sold 2,184 shares of Okta stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $82.48, for a total transaction of $180,136.32. Following the completion of the sale, the chief financial officer now owns 42,843 shares in the company, valued at approximately $3,533,690.64. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Todd Mckinnon sold 3,117 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $82.48, for a total value of $257,090.16. Following the completion of the sale, the chief executive officer now owns 22,813 shares in the company, valued at approximately $1,881,616.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brett Tighe sold 2,184 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $82.48, for a total value of $180,136.32. Following the completion of the sale, the chief financial officer now owns 42,843 shares of the company’s stock, valued at approximately $3,533,690.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,473 shares of company stock worth $533,244. 7.36% of the stock is currently owned by insiders.

Institutional Trading of Okta

A number of hedge funds have recently bought and sold shares of the company. Nissay Asset Management Corp Japan ADV lifted its position in Okta by 0.7% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 18,281 shares of the company’s stock worth $1,249,000 after buying an additional 136 shares during the last quarter. Captrust Financial Advisors increased its stake in Okta by 2.4% in the 2nd quarter. Captrust Financial Advisors now owns 5,953 shares of the company’s stock worth $538,000 after purchasing an additional 137 shares during the period. Sunbelt Securities Inc. increased its stake in Okta by 4.0% in the 4th quarter. Sunbelt Securities Inc. now owns 3,928 shares of the company’s stock worth $268,000 after purchasing an additional 151 shares during the period. Toroso Investments LLC increased its stake in Okta by 10.1% in the 1st quarter. Toroso Investments LLC now owns 1,717 shares of the company’s stock worth $259,000 after purchasing an additional 157 shares during the period. Finally, B.O.S.S. Retirement Advisors LLC increased its stake in Okta by 1.1% in the 1st quarter. B.O.S.S. Retirement Advisors LLC now owns 15,174 shares of the company’s stock worth $1,309,000 after purchasing an additional 159 shares during the period. Institutional investors own 73.02% of the company’s stock.

About Okta

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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.