Okta, Inc. (NASDAQ:OKTA) Director Sells $33,965,100.00 in Stock

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 390,000 shares of the 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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 transaction of $293,738.10.
• On Monday, December 2nd, Jacques Frederic Kerrest sold 131,426 shares of Okta stock. The stock was sold at an average price of $80.68, for a total transaction of $10,603,449.68.

Okta Price Performance

OKTA stock opened at $94.00 on Thursday. The business’s fifty day moving average price is $83.35 and its 200 day moving average price is $82.15. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $114.50. The company has a market capitalization of $16.11 billion, a PE ratio of -268.57, 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.

Institutional Trading of Okta

Several hedge funds have recently made changes to their positions in the business. Paloma Partners Management Co purchased a new stake in Okta during the 3rd quarter worth approximately $969,000. SG Americas Securities LLC increased its position in shares of Okta by 122.3% during the third quarter. SG Americas Securities LLC now owns 17,021 shares of the company’s stock worth $1,265,000 after acquiring an additional 9,364 shares during the period. Truist Financial Corp raised its stake in shares of Okta by 62.5% in the second quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock valued at $48,870,000 after acquiring an additional 200,770 shares in the last quarter. Stifel Financial Corp boosted its holdings in Okta by 56.1% in the third quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock valued at $2,770,000 after purchasing an additional 13,387 shares during the period. Finally, Nordea Investment Management AB grew its stake in Okta by 1,150.2% during the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock worth $33,146,000 after purchasing an additional 382,190 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upgraded Okta from a “neutral” rating to an “overweight” rating and set a $100.00 price objective on the stock in a report on Monday, December 16th. KeyCorp upgraded Okta from a “sector weight” rating to an “overweight” rating and set a $115.00 price target for the company in a research report on Thursday, December 19th. Truist Financial restated a “hold” rating and issued a $92.00 price objective (up previously from $80.00) on shares of Okta in a report on Wednesday, December 4th. Citigroup upped their target price on shares of Okta from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Friday, January 17th. Finally, Stifel Nicolaus boosted their price target on shares of Okta from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $104.55.

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.