Brett Tighe Sells 5,000 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) CFO Brett Tighe sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $87.29, for a total transaction of $436,450.00. Following the completion of the transaction, the chief financial officer now owns 107,533 shares of the company’s stock, valued at $9,386,555.57. The trade was a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Brett Tighe also recently made the following trade(s):

• On Tuesday, January 21st, Brett Tighe sold 5,000 shares of Okta stock. The shares were sold at an average price of $89.00, for a total transaction of $445,000.00.

Okta Trading Up 2.3 %

OKTA stock traded up $2.04 during mid-day trading on Monday, reaching $90.90. The company’s stock had a trading volume of 2,790,236 shares, compared to its average volume of 2,565,242. The company has a market cap of $15.58 billion, a price-to-earnings ratio of -259.71, a price-to-earnings-growth ratio of 8.95 and a beta of 1.00. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $114.50. The business’s 50 day moving average price is $82.18 and its 200 day moving average price is $82.09. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Morgan Stanley upgraded Okta from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $92.00 to $97.00 in a research note on Monday, December 2nd. Westpark Capital reiterated a “buy” rating and issued a $140.00 target price on shares of Okta in a research report on Wednesday, December 4th. Canaccord Genuity Group increased their target price on shares of Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Robert W. Baird lifted their price target on shares of Okta from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Finally, Stifel Nicolaus increased their price objective on shares of Okta from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $104.55.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. bought a new stake in Okta in the third quarter valued at $49,373,000. Nordea Investment Management AB grew its stake in shares of Okta by 1,150.2% in the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after buying an additional 382,190 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of Okta by 232.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company’s stock valued at $29,479,000 after buying an additional 277,084 shares during the period. Truist Financial Corp increased its position in Okta by 62.5% in the 2nd quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock valued at $48,870,000 after buying an additional 200,770 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Okta by 105.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock worth $26,627,000 after buying an additional 184,107 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

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.