Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest Sells 390,000 Shares

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 390,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $87.09, for a total value of $33,965,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Jacques Frederic Kerrest also recently made the following trade(s):

• On Tuesday, January 21st, Jacques Frederic Kerrest sold 3,306 shares of Okta stock. The stock was sold at an average price of $88.85, for a total value of $293,738.10.
• On Monday, December 2nd, Jacques Frederic Kerrest sold 131,426 shares of Okta stock. The shares were sold at an average price of $80.68, for a total transaction of $10,603,449.68.

Okta Trading Up 2.3 %

OKTA stock traded up $2.04 during trading on Monday, reaching $90.90. 2,790,236 shares of the stock were exchanged, compared to its average volume of 2,565,242. The firm has a market capitalization of $15.58 billion, a price-to-earnings ratio of -259.71, a P/E/G ratio of 8.95 and a beta of 1.00. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average price of $82.18 and a 200-day moving average price of $82.09. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $114.50.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Westpark Capital restated a “buy” rating and issued a $140.00 price target on shares of Okta in a research report on Wednesday, December 4th. BTIG Research lifted their price target on shares of Okta from $98.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Sanford C. Bernstein reduced their price objective on shares of Okta from $129.00 to $124.00 and set an “outperform” rating for the company in a research note on Tuesday, December 17th. Piper Sandler lifted their target price on shares of Okta from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, Truist Financial reiterated a “hold” rating and issued a $92.00 price target (up previously from $80.00) on shares of Okta in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $104.55.

Institutional Investors Weigh In On Okta

A number of institutional investors have recently made changes to their positions in OKTA. Itau Unibanco Holding S.A. acquired a new position in shares of Okta in the third quarter valued at approximately $25,000. Future Financial Wealth Managment LLC purchased a new stake in Okta during the 3rd quarter worth about $26,000. Blue Trust Inc. increased its stake in Okta by 105.5% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after purchasing an additional 191 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of Okta in the 3rd quarter valued at $32,000. Finally, Modus Advisors LLC purchased a new stake in Okta in the fourth quarter valued at $44,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

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.