Okta Inc (NASDAQ:OKTA) saw a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 5,234,874 shares, a growth of 34.7% from the February 15th total of 3,887,251 shares. Based on an average daily volume of 1,612,369 shares, the days-to-cover ratio is currently 3.2 days.
Several brokerages have recently commented on OKTA. Needham & Company LLC began coverage on shares of Okta in a report on Wednesday, February 14th. They set a “buy” rating and a $38.00 target price on the stock. Canaccord Genuity raised their target price on shares of Okta from $28.00 to $36.00 and gave the stock a “hold” rating in a report on Thursday, March 8th. BidaskClub cut shares of Okta from a “hold” rating to a “sell” rating in a report on Thursday, December 21st. Citigroup reaffirmed a “buy” rating and set a $46.00 target price on shares of Okta in a report on Thursday, March 8th. Finally, Oppenheimer reaffirmed a “buy” rating and set a $34.00 target price on shares of Okta in a report on Thursday, December 7th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Okta has an average rating of “Buy” and an average target price of $41.45.
Okta (NASDAQ OKTA) opened at $39.69 on Tuesday. The stock has a market cap of $4,047.36 and a P/E ratio of -24.65. Okta has a one year low of $21.52 and a one year high of $42.88.
In other news, General Counsel Jonathan T. Runyan sold 3,125 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $25.99, for a total transaction of $81,218.75. Following the transaction, the general counsel now directly owns 3,125 shares of the company’s stock, valued at $81,218.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Jonathan T. Runyan sold 9,375 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $25.22, for a total transaction of $236,437.50. The disclosure for this sale can be found here. Insiders have sold 303,375 shares of company stock worth $9,225,047 over the last ninety days.
A number of large investors have recently made changes to their positions in the stock. Champlain Investment Partners LLC increased its stake in Okta by 387.3% in the fourth quarter. Champlain Investment Partners LLC now owns 2,859,000 shares of the company’s stock valued at $73,219,000 after acquiring an additional 2,272,290 shares during the last quarter. Glynn Capital Management LLC boosted its position in Okta by 3,125.6% in the fourth quarter. Glynn Capital Management LLC now owns 2,343,268 shares of the company’s stock valued at $60,011,000 after buying an additional 2,270,623 shares in the last quarter. BlackRock Inc. boosted its position in Okta by 24.4% in the fourth quarter. BlackRock Inc. now owns 1,577,619 shares of the company’s stock valued at $40,404,000 after buying an additional 309,147 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Okta by 5.4% in the third quarter. JPMorgan Chase & Co. now owns 1,010,369 shares of the company’s stock valued at $29,291,000 after buying an additional 51,761 shares in the last quarter. Finally, Vanguard Group Inc. acquired a new stake in Okta in the second quarter valued at approximately $21,749,000. 39.10% of the stock is currently owned by institutional investors and hedge funds.
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.
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.