Okta, Inc. (NASDAQ:OKTA) CRO Sells $708,835.95 in Stock

Okta, Inc. (NASDAQ:OKTA) CRO Jonathan James Addison sold 7,005 shares of the company’s stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $101.19, for a total value of $708,835.95. Following the sale, the executive now directly owns 19,067 shares of the company’s stock, valued at $1,929,389.73. The trade was a 26.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Okta Trading Down 0.7 %

Shares of NASDAQ:OKTA traded down $0.67 during trading on Tuesday, reaching $100.21. 2,319,032 shares of the company traded hands, compared to its average volume of 2,535,502. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $118.07. The business’s fifty day moving average is $102.22 and its 200-day moving average is $88.03. The firm has a market capitalization of $17.40 billion, a price-to-earnings ratio of -286.31, a P/E/G ratio of 6.42 and a beta of 1.07.

Hedge Funds Weigh In On Okta

A number of hedge funds have recently modified their holdings of OKTA. Norges Bank bought a new stake in shares of Okta in the fourth quarter worth about $234,992,000. Ameriprise Financial Inc. raised its holdings in shares of Okta by 2,135.7% during the fourth quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company’s stock valued at $150,845,000 after acquiring an additional 1,828,630 shares in the last quarter. Alyeska Investment Group L.P. lifted its stake in Okta by 2,309.4% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,772,751 shares of the company’s stock worth $139,693,000 after acquiring an additional 1,699,176 shares during the period. Point72 Asset Management L.P. boosted its holdings in Okta by 236.8% in the fourth quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company’s stock valued at $176,271,000 after acquiring an additional 1,572,786 shares in the last quarter. Finally, Sachem Head Capital Management LP purchased a new position in Okta during the 4th quarter valued at $105,592,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 price target on shares of Okta in a research report on Tuesday, March 4th. Jefferies Financial Group boosted their price target on shares of Okta from $90.00 to $110.00 and gave the company a “hold” rating in a report on Tuesday, March 4th. Westpark Capital reissued a “buy” rating and issued a $140.00 target price on shares of Okta in a report on Friday, February 28th. Wells Fargo & Company boosted their price target on Okta from $95.00 to $100.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Finally, UBS Group set a $135.00 price objective on Okta in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Okta has a consensus rating of “Moderate Buy” and an average price target of $116.09.

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.