Okta, Inc. (NASDAQ:OKTA - Get Free Report) CRO Jonathan James Addison sold 7,005 shares of Okta stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $101.19, for a total value of $708,835.95. Following the transaction, the executive now owns 19,067 shares of the company's stock, valued at $1,929,389.73. This represents a 26.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Okta Stock Down 0.7 %
Shares of NASDAQ OKTA opened at $100.21 on Wednesday. The stock has a 50-day moving average price of $102.27 and a two-hundred day moving average price of $88.11. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $118.07. 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 company has a market cap of $17.40 billion, a price-to-earnings ratio of -286.31, a PEG ratio of 6.42 and a beta of 1.07.
Hedge Funds Weigh In On Okta
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Okta during the fourth quarter worth $234,992,000. Ameriprise Financial Inc. increased its holdings in Okta by 2,135.7% in the 4th quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock worth $150,845,000 after purchasing an additional 1,828,630 shares in the last quarter. Alyeska Investment Group L.P. raised its position in Okta by 2,309.4% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,772,751 shares of the company's stock valued at $139,693,000 after purchasing an additional 1,699,176 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Okta by 236.8% during the fourth quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock valued at $176,271,000 after purchasing an additional 1,572,786 shares in the last quarter. Finally, Sachem Head Capital Management LP bought a new stake in shares of Okta during the fourth quarter worth about $105,592,000. Institutional investors own 86.64% of the company's stock.
Wall Street Analyst Weigh In
OKTA has been the topic of several research reports. Mizuho upgraded shares of Okta from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $110.00 to $127.00 in a report on Tuesday, March 4th. Canaccord Genuity Group increased their price target on shares of Okta from $94.00 to $100.00 and gave the company a "hold" rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. boosted their price objective on Okta from $100.00 to $105.00 and gave the stock an "overweight" rating in a report on Friday, February 28th. Sanford C. Bernstein decreased their target price on Okta from $129.00 to $124.00 and set an "outperform" rating on the stock in a research report on Tuesday, December 17th. Finally, Cantor Fitzgerald initiated coverage on Okta in a report on Monday, March 31st. They set an "overweight" rating and a $130.00 price target for the company. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $116.09.
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Okta Company Profile
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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.
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