Insider Selling: Okta, Inc. (NASDAQ:OKTA) CFO Sells $473,800.00 in Stock

Okta, Inc. (NASDAQ:OKTA) CFO Brett Tighe sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $94.76, for a total value of $473,800.00. Following the completion of the transaction, the chief financial officer now owns 97,533 shares of the company’s stock, valued at approximately $9,242,227.08. This represents a 4.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, January 28th, Brett Tighe sold 5,000 shares of Okta stock. The stock was sold at an average price of $94.56, for a total transaction of $472,800.00.
• On Thursday, January 23rd, Brett Tighe sold 5,000 shares of Okta stock. The shares were sold at an average price of $87.29, for a total transaction of $436,450.00.
• On Tuesday, January 21st, Brett Tighe sold 5,000 shares of Okta stock. The stock was sold at an average price of $89.00, for a total transaction of $445,000.00.

Okta Trading Up 3.2 %

Okta stock opened at $97.45 on Thursday. The firm has a 50-day moving average price of $85.18 and a two-hundred day moving average price of $82.08. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $114.50. The firm has a market capitalization of $16.70 billion, a price-to-earnings ratio of -278.43, a PEG ratio of 9.52 and a beta of 1.03. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on OKTA. Susquehanna raised their target price on Okta from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Morgan Stanley upgraded Okta from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $92.00 to $97.00 in a research note on Monday, December 2nd. Citigroup upped their target price on Okta from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. Scotiabank decreased their price target on shares of Okta from $96.00 to $94.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. raised shares of Okta from a “neutral” rating to an “overweight” rating and set a $100.00 price target on the stock in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $104.55.

Hedge Funds Weigh In On Okta

Hedge funds and other institutional investors have recently made changes to their positions in the business. Itau Unibanco Holding S.A. bought a new stake in Okta during the 3rd quarter valued at $25,000. Bank of Jackson Hole Trust acquired a new position in shares of Okta during the fourth quarter valued at $25,000. Future Financial Wealth Managment LLC bought a new stake in shares of Okta during the third quarter valued at about $26,000. Blue Trust Inc. lifted its holdings in Okta by 105.5% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after purchasing an additional 191 shares during the period. Finally, Legacy Investment Solutions LLC bought a new position in Okta in the 3rd quarter valued at about $32,000. 86.64% of the stock is currently 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.