Royal Bank of Canada restated their outperform rating on shares of Okta (NASDAQ:OKTA - Free Report) in a report released on Monday morning, Benzinga reports. They currently have a $125.00 price objective on the stock.
Other equities analysts have also recently issued reports about the stock. Westpark Capital upgraded shares of Okta from a hold rating to a buy rating and set a $140.00 target price for the company in a research report on Thursday, February 29th. Robert W. Baird boosted their target price on shares of Okta from $90.00 to $108.00 and gave the company an outperform rating in a research report on Thursday, February 29th. Sanford C. Bernstein boosted their target price on shares of Okta from $84.00 to $114.00 and gave the company a market perform rating in a research report on Thursday, February 29th. BMO Capital Markets dropped their target price on shares of Okta from $110.00 to $100.00 and set a market perform rating for the company in a research report on Monday, June 3rd. Finally, Wedbush restated an outperform rating and issued a $130.00 target price on shares of Okta in a research report on Wednesday, May 29th. Nineteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $104.48.
View Our Latest Stock Report on Okta
Okta Stock Performance
Okta stock traded up $0.02 during midday trading on Monday, hitting $89.78. The company's stock had a trading volume of 1,500,438 shares, compared to its average volume of 1,896,591. Okta has a 1-year low of $65.04 and a 1-year high of $114.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.73 and a quick ratio of 1.73. The company has a 50-day moving average price of $95.00 and a two-hundred day moving average price of $91.83. The company has a market cap of $15.10 billion, a price-to-earnings ratio of -53.76 and a beta of 1.03.
Insider Activity
In related news, Director Jacques Frederic Kerrest sold 18,878 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $87.19, for a total transaction of $1,645,972.82. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Okta news, Director Jacques Frederic Kerrest sold 18,878 shares of the company's stock in a transaction on Monday, June 10th. The shares were sold at an average price of $87.19, for a total transaction of $1,645,972.82. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Shibu Ninan sold 4,279 shares of the company's stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $104.14, for a total transaction of $445,615.06. Following the transaction, the chief accounting officer now owns 4,111 shares in the company, valued at approximately $428,119.54. The disclosure for this sale can be found here. Insiders own 7.00% of the company's stock.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the business. City State Bank raised its holdings in shares of Okta by 160.0% in the first quarter. City State Bank now owns 260 shares of the company's stock valued at $27,000 after purchasing an additional 160 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Okta in the fourth quarter valued at about $29,000. EverSource Wealth Advisors LLC grew its position in Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company's stock valued at $36,000 after buying an additional 142 shares during the period. Venturi Wealth Management LLC grew its position in Okta by 50.4% during the first quarter. Venturi Wealth Management LLC now owns 391 shares of the company's stock valued at $41,000 after buying an additional 131 shares during the period. Finally, Principal Securities Inc. bought a new position in Okta during the fourth quarter valued at about $48,000. Institutional investors and hedge funds own 86.64% of the company's stock.
About Okta
(Get Free Report)
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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