Insider Selling: Okta, Inc. (NASDAQ:OKTA) Insider Sells 2,704 Shares of Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 2,704 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $89.58, for a total transaction of $242,224.32. Following the transaction, the insider now directly owns 23,311 shares in the company, valued at approximately $2,088,199.38. The trade was a 10.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Larissa Schwartz also recently made the following trade(s):

• On Monday, December 30th, Larissa Schwartz sold 2,704 shares of Okta stock. The stock was sold at an average price of $80.50, for a total transaction of $217,672.00.
• On Monday, November 4th, Larissa Schwartz sold 2,791 shares of Okta stock. The stock was sold at an average price of $71.50, for a total transaction of $199,556.50.

Okta Stock Performance

OKTA stock opened at $88.86 on Friday. The company has a market capitalization of $15.23 billion, a P/E ratio of -253.89, a PEG ratio of 8.95 and a beta of 1.00. The company has a 50-day simple moving average of $82.18 and a 200 day simple moving average of $82.16. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $114.50. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Institutional Investors Weigh In On Okta

Several institutional investors have recently bought and sold shares of the stock. GPS Wealth Strategies Group LLC lifted its holdings in Okta by 169.3% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 1,384 shares of the company’s stock worth $109,000 after purchasing an additional 870 shares during the period. Spire Wealth Management lifted its holdings in Okta by 696.7% in the 4th quarter. Spire Wealth Management now owns 2,390 shares of the company’s stock valued at $188,000 after acquiring an additional 2,090 shares during the last quarter. Caprock Group LLC lifted its holdings in Okta by 6.5% in the 4th quarter. Caprock Group LLC now owns 4,032 shares of the company’s stock valued at $318,000 after acquiring an additional 246 shares during the last quarter. Alta Wealth Advisors LLC lifted its holdings in Okta by 67.4% in the 4th quarter. Alta Wealth Advisors LLC now owns 5,030 shares of the company’s stock valued at $396,000 after acquiring an additional 2,025 shares during the last quarter. Finally, Mediolanum International Funds Ltd lifted its holdings in Okta by 247.1% in the 4th quarter. Mediolanum International Funds Ltd now owns 27,289 shares of the company’s stock valued at $2,168,000 after acquiring an additional 19,428 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OKTA. Royal Bank of Canada restated an “outperform” rating and issued a $101.00 price target on shares of Okta in a research note on Wednesday, December 4th. Westpark Capital restated a “buy” rating and issued a $140.00 price target on shares of Okta in a research note on Wednesday, December 4th. Sanford C. Bernstein dropped their price target on shares of Okta from $129.00 to $124.00 and set an “outperform” rating for the company in a research note on Tuesday, December 17th. BTIG Research lifted their price target on shares of Okta from $98.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Citigroup lifted their price target on shares of Okta from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.