Jacques Frederic Kerrest Sells 3,306 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 3,306 shares of Okta stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $88.85, for a total value of $293,738.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 Stock Performance

OKTA opened at $88.86 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $114.50. The business has a 50 day moving average of $82.18 and a 200-day moving average of $82.25. The stock has a market cap of $15.23 billion, a price-to-earnings ratio of -253.89, a PEG ratio of 8.95 and a beta of 1.00.

Analyst Ratings Changes

A number of brokerages have recently commented on OKTA. Robert W. Baird upped their price target on Okta from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $101.00 price target on shares of Okta in a report on Wednesday, December 4th. KeyCorp upgraded Okta from a “sector weight” rating to an “overweight” rating and set a $115.00 target price on the stock in a report on Thursday, December 19th. Scotiabank lowered their price target on Okta from $96.00 to $94.00 and set a “sector perform” rating for the company in a report on Tuesday. Finally, Truist Financial reiterated a “hold” rating and issued a $92.00 price objective (up from $80.00) on shares of Okta in a research report on Wednesday, December 4th. One 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, the company has a consensus rating of “Hold” and an average price target of $104.55.

Hedge Funds Weigh In On Okta

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. acquired a new position in shares of Okta in the third quarter valued at approximately $49,373,000. Nordea Investment Management AB grew its stake in Okta by 1,150.2% during the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock worth $33,146,000 after buying an additional 382,190 shares in the last quarter. Eminence Capital LP increased its stake in Okta by 18.1% in the second quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock valued at $186,225,000 after acquiring an additional 305,381 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Okta by 232.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company’s stock worth $29,479,000 after buying an additional 277,084 shares in the last quarter. Finally, Truist Financial Corp raised its stake in Okta by 62.5% during the second quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock worth $48,870,000 after acquiring an additional 200,770 shares in the last quarter. 86.64% of the stock is owned by institutional investors.

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.