Needham & Company LLC reiterated their buy rating on shares of Okta (NASDAQ:OKTA – Free Report) in a research report released on Tuesday,Benzinga reports. They currently have a $115.00 price target on the stock.
OKTA has been the subject of several other research reports. Mizuho decreased their target price on shares of Okta from $104.00 to $92.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th. Robert W. Baird increased their price objective on Okta from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. Westpark Capital reissued a “buy” rating and issued a $140.00 target price on shares of Okta in a report on Wednesday, December 4th. Morgan Stanley upgraded Okta from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $92.00 to $97.00 in a research note on Monday, December 2nd. Finally, Citigroup lifted their price objective on shares of Okta from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, January 17th. 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $104.55.
Get Our Latest Stock Analysis on Okta
Okta Stock Up 1.3 %
Insiders Place Their Bets
In related news, Director Jacques Frederic Kerrest sold 390,000 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $87.09, for a total transaction of $33,965,100.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Todd Mckinnon sold 233,028 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $82.31, for a total transaction of $19,180,534.68. The disclosure for this sale can be found here. Insiders sold a total of 913,168 shares of company stock worth $78,420,769 over the last ninety days. 7.00% of the stock is owned by company insiders.
Hedge Funds Weigh In On Okta
Institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in Okta by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company’s stock valued at $79,503,000 after acquiring an additional 17,950 shares in the last quarter. Penserra Capital Management LLC raised its stake in shares of Okta by 9.8% in the 3rd quarter. Penserra Capital Management LLC now owns 767,962 shares of the company’s stock valued at $57,089,000 after purchasing an additional 68,757 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Okta during the third quarter worth about $49,373,000. Allspring Global Investments Holdings LLC lifted its position in shares of Okta by 138.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company’s stock worth $43,721,000 after purchasing an additional 322,201 shares during the last quarter. Finally, Glenmede Trust Co. NA increased its holdings in Okta by 17.6% in the third quarter. Glenmede Trust Co. NA now owns 510,658 shares of the company’s stock valued at $37,962,000 after buying an additional 76,588 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.
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.
Recommended Stories
- Five stocks we like better than Okta
- What is a Death Cross in Stocks?
- Rocket Lab’s Growth Strategy: Small Rockets, Massive Potential
- 3 Ways To Invest In Coffee, Other Than Drinking It
- Goldman Sachs vs. Morgan Stanley—Which Stock Has More Upside?
- Profitably Trade Stocks at 52-Week Highs
- 3 Reasons Bulls Will Win on Super Micro Computer Stock
Receive News & Ratings for Okta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Okta and related companies with MarketBeat.com's FREE daily email newsletter.