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 on Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total transaction of $445,000.00. Following the completion of the sale, the chief financial officer now owns 112,533 shares in the company, valued at approximately $10,015,437. The trade was a 4.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Okta Stock Performance

Shares of Okta stock traded down $0.55 on Thursday, reaching $88.07. 1,913,748 shares of the stock were exchanged, compared to its average volume of 2,582,623. 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 fifty day moving average price of $81.65 and a two-hundred day moving average price of $82.27. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $114.50. The firm has a market capitalization of $15.09 billion, a PE ratio of -251.63, a PEG ratio of 9.03 and a beta of 1.00.

Institutional Trading of Okta

Several institutional investors and hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Okta by 2.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock worth $605,000 after purchasing an additional 180 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Okta by 4.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock valued at $306,000 after buying an additional 182 shares during the period. Creative Financial Designs Inc. ADV lifted its position in shares of Okta by 12.4% during the third quarter. Creative Financial Designs Inc. ADV now owns 1,704 shares of the company’s stock worth $127,000 after purchasing an additional 188 shares in the last quarter. Blue Trust Inc. lifted its holdings in Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after buying an additional 191 shares in the last quarter. Finally, CHICAGO TRUST Co NA boosted its holdings in Okta by 6.5% in the fourth quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company’s stock valued at $246,000 after purchasing an additional 191 shares during the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on OKTA. Citigroup lifted their price target on shares of Okta from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. Robert W. Baird increased their target price on shares of Okta from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. BTIG Research boosted their price target on Okta from $98.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group upped their price objective on shares of Okta from $82.00 to $94.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Okta from a “buy” rating to a “hold” rating and lowered their target price for the stock from $115.00 to $85.00 in a research note on Tuesday, November 12th. One research 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 MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $104.55.

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.