Okta, Inc. (NASDAQ:OKTA) Receives Average Rating of "Moderate Buy" from Brokerages

Okta, Inc. (NASDAQ:OKTA - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the thirty-six ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $118.03.

OKTA has been the subject of a number of recent analyst reports. Oppenheimer raised their price objective on Okta from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Tuesday, March 4th. The Goldman Sachs Group raised their price objective on shares of Okta from $107.00 to $123.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Canaccord Genuity Group boosted their target price on shares of Okta from $94.00 to $100.00 and gave the stock a "hold" rating in a research report on Tuesday, March 4th. DA Davidson boosted their target price on shares of Okta from $125.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, Loop Capital began coverage on Okta in a report on Monday, May 5th. They issued a "buy" rating and a $140.00 price objective for the company.

Okta Stock Down 0.7%

Okta stock traded down $0.90 during midday trading on Monday, hitting $125.54. 1,784,163 shares of the stock were exchanged, compared to its average volume of 2,781,208. Okta has a 1 year low of $70.56 and a 1 year high of $127.57. The firm has a market cap of $21.79 billion, a P/E ratio of -358.69, a P/E/G ratio of 6.42 and a beta of 0.96. 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 has a 50 day moving average price of $108.88 and a two-hundred day moving average price of $94.74.

Insider Activity at Okta

In other Okta news, Director Jacques Frederic Kerrest sold 130,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $105.00, for a total transaction of $13,650,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO Jonathan James Addison sold 7,005 shares of the 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 in the company, valued at $1,929,389.73. The trade was a 26.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 154,452 shares of company stock worth $16,347,360 in the last quarter. 5.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Okta

Several hedge funds have recently bought and sold shares of OKTA. SBI Securities Co. Ltd. bought a new stake in Okta during the fourth quarter worth approximately $1,686,000. Charles Schwab Investment Management Inc. increased its position in Okta by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company's stock worth $87,903,000 after buying an additional 46,064 shares during the period. Tower Research Capital LLC TRC increased its position in Okta by 46.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,833 shares of the company's stock worth $854,000 after buying an additional 3,429 shares during the period. Westpac Banking Corp increased its position in Okta by 2,574.9% in the 4th quarter. Westpac Banking Corp now owns 9,817 shares of the company's stock worth $774,000 after buying an additional 9,450 shares during the period. Finally, Forsta AP Fonden grew its position in Okta by 40.5% in the 4th quarter. Forsta AP Fonden now owns 73,900 shares of the company's stock worth $5,823,000 after purchasing an additional 21,300 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

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.