Okta (NASDAQ:OKTA) Price Target Raised to $110.00 at Mizuho

Okta (NASDAQ:OKTA) had its price objective lifted by Mizuho from $100.00 to $110.00 in a research report report published on Wednesday morning,Benzinga reports. Mizuho currently has a neutral rating on the stock.

Other equities research analysts also recently issued reports about the company. Canaccord Genuity Group increased their price target on Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft downgraded Okta from a “buy” rating to a “hold” rating and decreased their price target for the stock from $115.00 to $85.00 in a report on Tuesday, November 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $101.00 price target on shares of Okta in a report on Wednesday, December 4th. BTIG Research increased their price target on Okta from $98.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 price target on shares of Okta in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Okta presently has a consensus rating of “Hold” and an average target price of $105.45.

Okta Stock Up 2.6 %

Shares of OKTA opened at $98.26 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The company’s 50 day simple moving average is $86.85 and its 200-day simple moving average is $82.19. Okta has a 12-month low of $70.56 and a 12-month high of $114.50.

Insider Buying and Selling

In other Okta news, CFO Brett Tighe sold 5,000 shares of Okta stock in a transaction dated 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 sale, the chief financial officer now owns 97,533 shares in the company, valued at $9,242,227.08. The trade was a 4.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jacques Frederic Kerrest sold 390,000 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $87.09, for a total value of $33,965,100.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 978,168 shares of company stock worth $84,758,269. 7.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of OKTA. Sanctuary Advisors LLC acquired a new position in Okta in the 2nd quarter worth about $460,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in Okta by 333.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,300 shares of the company’s stock worth $97,000 after purchasing an additional 1,000 shares during the last quarter. Creative Planning increased its position in Okta by 661.0% in the 3rd quarter. Creative Planning now owns 86,681 shares of the company’s stock worth $6,444,000 after purchasing an additional 75,290 shares during the last quarter. NBC Securities Inc. increased its position in Okta by 1,379.5% in the 3rd quarter. NBC Securities Inc. now owns 2,885 shares of the company’s stock worth $214,000 after purchasing an additional 2,690 shares during the last quarter. Finally, Swedbank AB increased its holdings in shares of Okta by 0.8% during the 3rd quarter. Swedbank AB now owns 80,011 shares of the company’s stock valued at $5,948,000 after acquiring an additional 609 shares during the last quarter. 86.64% of the stock is 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.