Jefferies Financial Group Raises Okta (NASDAQ:OKTA) Price Target to $135.00

Okta (NASDAQ:OKTA - Get Free Report) had its price objective boosted by Jefferies Financial Group from $110.00 to $135.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Jefferies Financial Group's price target would suggest a potential upside of 8.95% from the stock's previous close.

OKTA has been the subject of a number of other research reports. BTIG Research reissued a "buy" rating on shares of Okta in a report on Thursday. Stifel Nicolaus increased their target price on Okta from $115.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Oppenheimer raised their price target on shares of Okta from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 4th. The Goldman Sachs Group upped their price target on shares of Okta from $107.00 to $123.00 and gave the company a "buy" rating in a report on Tuesday, March 4th. Finally, Barclays increased their price objective on shares of Okta from $105.00 to $115.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $119.17.

Okta Stock Performance

Shares of OKTA stock opened at $123.91 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The company's fifty day moving average price is $109.24 and its two-hundred day moving average price is $95.28. The firm has a market capitalization of $21.51 billion, a P/E ratio of -354.03, a P/E/G ratio of 6.42 and a beta of 0.96. Okta has a 12 month low of $70.56 and a 12 month high of $127.57.

Insider Activity at Okta

In other news, CRO Jonathan James Addison sold 7,005 shares of the firm's stock in a transaction on Friday, April 11th. The stock was sold at an average price of $101.19, for a total transaction of $708,835.95. Following the transaction, the executive now directly owns 19,067 shares of the company's stock, valued at approximately $1,929,389.73. This trade represents a 26.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Robert Kelleher sold 5,895 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $113.75, for a total transaction of $670,556.25. Following the completion of the sale, the insider now directly owns 9,828 shares of the company's stock, valued at $1,117,935. The trade was a 37.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 154,452 shares of company stock worth $16,347,360 in the last ninety days. 5.68% of the stock is owned by insiders.

Institutional Trading of Okta

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. boosted its holdings in shares of Okta by 27.2% in the first quarter. Geneos Wealth Management Inc. now owns 13,314 shares of the company's stock valued at $1,401,000 after acquiring an additional 2,848 shares in the last quarter. Focus Partners Wealth lifted its position in Okta by 3.5% in the first quarter. Focus Partners Wealth now owns 114,480 shares of the company's stock worth $12,046,000 after purchasing an additional 3,857 shares during the period. Bayforest Capital Ltd bought a new position in Okta during the 1st quarter valued at $374,000. SCS Capital Management LLC bought a new position in Okta during the 1st quarter valued at $1,266,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Okta by 76.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,748,847 shares of the company's stock valued at $289,234,000 after purchasing an additional 1,189,222 shares during the period. 86.64% of the stock is currently owned by institutional investors.

About Okta

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.

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