Okta (NASDAQ:OKTA) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Saturday.
Several other equities analysts also recently weighed in on OKTA. FBN Securities began coverage on Okta in a research note on Monday, January 22nd. They issued an “outperform” rating and a $35.00 price objective for the company. Oppenheimer reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Okta in a research note on Thursday, December 7th. Zacks Investment Research downgraded Okta from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. SunTrust Banks began coverage on Okta in a research note on Friday, October 27th. They issued a “buy” rating and a $36.00 price objective for the company. Finally, KeyCorp reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Okta in a research note on Friday, November 10th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Okta has an average rating of “Buy” and a consensus price target of $33.25.
Okta (NASDAQ:OKTA) opened at $28.87 on Friday. Okta has a one year low of $21.52 and a one year high of $33.64. The firm has a market capitalization of $2,970.00 and a P/E ratio of -25.10.
In other Okta news, CFO William E. Losch sold 12,200 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $29.05, for a total transaction of $354,410.00. Following the completion of the transaction, the chief financial officer now owns 12,200 shares of the company’s stock, valued at $354,410. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Todd Mckinnon sold 75,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $29.67, for a total value of $2,225,250.00. The disclosure for this sale can be found here. Insiders have sold 857,727 shares of company stock valued at $23,739,456 in the last three months.
A number of institutional investors have recently added to or reduced their stakes in OKTA. SG Americas Securities LLC acquired a new stake in shares of Okta during the third quarter worth $128,000. Paulson & CO. Inc. acquired a new stake in shares of Okta during the second quarter worth $171,000. Hershey Trust Co. acquired a new stake in shares of Okta during the fourth quarter worth $195,000. Invictus RG acquired a new stake in shares of Okta during the third quarter worth $211,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Okta during the second quarter worth $219,000. 16.63% of the stock is owned by institutional investors.
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Okta Company Profile
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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