Okta (NASDAQ:OKTA) Stock Rating Upgraded by Arete Research

Arete Research upgraded shares of Okta (NASDAQ:OKTA - Free Report) to a strong sell rating in a report published on Monday, MarketBeat reports. The firm currently has $83.00 price target on the stock.

A number of other equities analysts have also weighed in on OKTA. Barclays reduced their target price on shares of Okta from $135.00 to $120.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 28th. Roth Capital reaffirmed a "buy" rating and issued a $119.00 price objective on shares of Okta in a report on Wednesday, May 28th. UBS Group lowered their target price on shares of Okta from $150.00 to $130.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. Needham & Company LLC raised their price target on Okta from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Finally, Wells Fargo & Company lifted their price target on Okta from $100.00 to $110.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 28th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty have given a buy rating to the company's stock. According to data from MarketBeat, Okta currently has a consensus rating of "Hold" and an average target price of $119.44.

Okta Stock Performance

OKTA traded down $0.44 during midday trading on Monday, reaching $96.96. The company had a trading volume of 1,014,229 shares, compared to its average volume of 3,080,977. Okta has a 12-month low of $70.56 and a 12-month high of $127.57. The business has a 50-day moving average price of $109.04 and a two-hundred day moving average price of $100.76. The stock has a market cap of $16.97 billion, a PE ratio of 153.91, a P/E/G ratio of 4.79 and a beta of 0.82. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.47 and a current ratio of 1.47.

Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.77 by $0.09. Okta had a return on equity of 2.79% and a net margin of 4.85%. The business had revenue of $688.00 million for the quarter, compared to the consensus estimate of $680.14 million. During the same quarter in the prior year, the business earned $0.65 earnings per share. Okta's revenue for the quarter was up 11.5% on a year-over-year basis. On average, sell-side analysts expect that Okta will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 581 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $100.29, for a total value of $58,268.49. Following the transaction, the director owned 2,832 shares in the company, valued at approximately $284,021.28. The trade was a 17.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Larissa Schwartz sold 2,244 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $100.00, for a total transaction of $224,400.00. Following the transaction, the insider directly owned 23,640 shares of the company's stock, valued at approximately $2,364,000. This trade represents a 8.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,935 shares of company stock worth $1,100,347. 5.68% of the stock is currently owned by insiders.

Institutional Trading of Okta

Several large investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its position in shares of Okta by 52.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company's stock worth $956,000 after buying an additional 4,171 shares during the last quarter. Merit Financial Group LLC bought a new stake in Okta in the first quarter valued at $823,000. Greenwood Capital Associates LLC increased its position in Okta by 165.7% during the 1st quarter. Greenwood Capital Associates LLC now owns 7,048 shares of the company's stock valued at $742,000 after purchasing an additional 4,395 shares during the period. FNY Investment Advisers LLC raised its holdings in Okta by 433.3% in the 1st quarter. FNY Investment Advisers LLC now owns 4,000 shares of the company's stock worth $420,000 after purchasing an additional 3,250 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Okta by 37,287.3% in the 1st quarter. GAMMA Investing LLC now owns 126,369 shares of the company's stock worth $13,297,000 after purchasing an additional 126,031 shares in the last quarter. 86.64% of the stock is owned by institutional investors.

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.