Okta (NASDAQ:OKTA) Given New $110.00 Price Target at BTIG Research

Okta (NASDAQ:OKTA) had its price target upped by BTIG Research from $98.00 to $110.00 in a report released on Wednesday morning, MarketBeat.com reports. The firm currently has a buy rating on the stock.

Several other research firms have also weighed in on OKTA. Guggenheim reiterated a “buy” rating and issued a $130.00 price objective on shares of Okta in a research note on Wednesday. Mizuho lowered their price objective on Okta from $104.00 to $92.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th. Jefferies Financial Group upped their price objective on Okta from $85.00 to $100.00 and gave the company a “hold” rating in a research note on Wednesday. DA Davidson increased their price target on Okta from $75.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, UBS Group decreased their price target on Okta from $120.00 to $108.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $103.07.

Okta Trading Up 5.4 %

OKTA stock opened at $86.11 on Wednesday. Okta has a 1-year low of $70.56 and a 1-year high of $114.50. The firm has a market cap of $14.63 billion, a P/E ratio of -246.03, a P/E/G ratio of 19.79 and a beta of 1.00. The business’s 50 day moving average is $75.15 and its 200-day moving average is $84.27. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18.

Insider Buying and Selling

In related news, CEO Todd Mckinnon sold 224,533 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $74.62, for a total transaction of $16,754,652.46. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Larissa Schwartz sold 2,790 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.01, for a total value of $206,487.90. Following the sale, the insider now directly owns 27,713 shares in the company, valued at $2,051,039.13. The trade was a 9.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 607,215 shares of company stock valued at $46,304,810. 7.00% of the stock is owned by company insiders.

Institutional Trading of Okta

Several hedge funds have recently added to or reduced their stakes in OKTA. Itau Unibanco Holding S.A. acquired a new stake in Okta during the 3rd quarter worth $25,000. Future Financial Wealth Managment LLC bought a new position in Okta during the 3rd quarter worth about $26,000. Blue Trust Inc. increased its holdings in Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after purchasing an additional 191 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in Okta during the 3rd quarter worth about $32,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Okta by 71.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after purchasing an additional 142 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

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.