Okta (NASDAQ:OKTA) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Saturday.
OKTA has been the subject of several other research reports. KeyCorp reiterated a “buy” rating and set a $35.00 price objective on shares of Okta in a report on Friday, November 10th. SunTrust Banks initiated coverage on Okta in a report on Friday, October 27th. They set a “buy” rating and a $36.00 price objective for the company. William Blair initiated coverage on Okta in a report on Wednesday, October 4th. They set an “outperform” rating for the company. Oppenheimer reiterated a “buy” rating and set a $34.00 price objective on shares of Okta in a report on Thursday, December 7th. Finally, Zacks Investment Research lowered Okta from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $33.00.
Shares of Okta (OKTA) opened at $29.18 on Friday. Okta has a twelve month low of $21.52 and a twelve month high of $33.64.
In related news, CFO William E. Losch sold 12,200 shares of the firm’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $26.48, for a total value of $323,056.00. Following the completion of the transaction, the chief financial officer now owns 12,200 shares in the company, valued at approximately $323,056. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Jonathan T. Runyan sold 9,375 shares of the firm’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $25.22, for a total value of $236,437.50. The disclosure for this sale can be found here. Insiders sold a total of 1,005,271 shares of company stock valued at $27,938,146 in the last 90 days.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP purchased a new position in shares of Okta during the 2nd quarter valued at about $101,000. SG Americas Securities LLC purchased a new position in shares of Okta during the 3rd quarter valued at about $128,000. Paulson & CO. Inc. purchased a new position in shares of Okta during the 2nd quarter valued at about $171,000. Invictus RG purchased a new position in shares of Okta during the 3rd quarter valued at about $211,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Okta during the 2nd quarter valued at about $219,000. Institutional investors and hedge funds own 13.41% of the company’s stock.
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Okta, Inc is a United States-based independent provider of identity for the enterprise. The Company’s Okta Identity Cloud connects and protects employees. It also connects enterprises to their partners, suppliers and customers. The Company offers products, such as Okta information technology (IT) Products and Okta for Developers.
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