Okta, Inc. (NASDAQ:OKTA) Insider Larissa Schwartz Sells 2,704 Shares

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $80.50, for a total transaction of $217,672.00. Following the sale, the insider now owns 24,462 shares of the company’s stock, valued at approximately $1,969,191. This trade represents a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• 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.
• On Monday, October 14th, Larissa Schwartz sold 2,797 shares of Okta stock. The stock was sold at an average price of $77.63, for a total value of $217,131.11.

Okta Stock Performance

Shares of OKTA opened at $80.76 on Friday. The business’s 50 day moving average is $78.94 and its two-hundred day moving average is $82.77. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $114.50. The firm has a market cap of $13.84 billion, a price-to-earnings ratio of -230.74, a PEG ratio of 8.61 and a beta of 1.00. 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 Trading of Okta

Several institutional investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. increased its position in shares of Okta by 11.8% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 16,285 shares of the company’s stock worth $1,524,000 after purchasing an additional 1,721 shares during the last quarter. nVerses Capital LLC bought a new stake in Okta in the second quarter valued at about $47,000. Natixis Advisors LLC raised its stake in Okta by 29.7% during the second quarter. Natixis Advisors LLC now owns 29,932 shares of the company’s stock valued at $2,802,000 after buying an additional 6,851 shares in the last quarter. Verus Capital Partners LLC raised its stake in Okta by 20.0% during the second quarter. Verus Capital Partners LLC now owns 3,094 shares of the company’s stock valued at $290,000 after buying an additional 516 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in shares of Okta by 10.2% in the 2nd quarter. CIBC Asset Management Inc now owns 5,362 shares of the company’s stock worth $502,000 after acquiring an additional 498 shares in the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on OKTA. Scotiabank upped their target price on Okta from $92.00 to $96.00 and gave the company a “sector perform” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group upped their price objective on shares of Okta from $97.00 to $107.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $101.00 price objective on shares of Okta in a report on Wednesday, December 4th. Mizuho lowered their target price on shares of Okta from $104.00 to $92.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. Finally, Citigroup increased their price target on shares of Okta from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Okta presently has a consensus rating of “Hold” and an average price target of $104.45.

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.