Okta (NASDAQ:OKTA) Stock Rating Lowered by BidaskClub

BidaskClub lowered shares of Okta (NASDAQ:OKTA) from a hold rating to a sell rating in a report published on Thursday, December 21st.

Several other brokerages also recently commented on OKTA. Zacks Investment Research upgraded shares of Okta from a hold rating to a buy rating and set a $33.00 target price on the stock in a report on Thursday, September 14th. William Blair initiated coverage on shares of Okta in a report on Wednesday, October 4th. They set an outperform rating on the stock. SunTrust Banks began coverage on shares of Okta in a report on Friday, October 27th. They set a buy rating and a $36.00 target price on the stock. Canaccord Genuity reaffirmed a hold rating and set a $27.00 price target on shares of Okta in a research note on Wednesday, August 30th. Finally, KeyCorp reaffirmed a buy rating and set a $35.00 price target on shares of Okta in a research note on Friday, November 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $33.00.

Shares of Okta (NASDAQ:OKTA) opened at $27.00 on Thursday. Okta has a fifty-two week low of $21.52 and a fifty-two week high of $33.64.

In other Okta news, COO Jacques Frederic Kerrest sold 6,612 shares of Okta stock in a transaction on Friday, November 24th. The shares were sold at an average price of $30.34, for a total transaction of $200,608.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William E. Losch sold 2,600 shares of Okta stock in a transaction on Friday, November 17th. The stock was sold at an average price of $30.00, for a total transaction of $78,000.00. Following the transaction, the chief financial officer now directly owns 2,400 shares of the company’s stock, valued at $72,000. The disclosure for this sale can be found here. Insiders sold 1,165,797 shares of company stock valued at $32,318,604 over the last three months.

A number of hedge funds have recently added to or reduced their stakes in the business. FMR LLC bought a new position in Okta during the second quarter worth $23,135,000. JPMorgan Chase & Co. lifted its holdings in shares of Okta by 5.4% during the third quarter. JPMorgan Chase & Co. now owns 1,010,369 shares of the company’s stock worth $29,291,000 after buying an additional 51,761 shares in the last quarter. Vanguard Group Inc. acquired a new stake in shares of Okta during the second quarter worth $21,749,000. Capital World Investors acquired a new stake in shares of Okta during the second quarter worth $11,400,000. Finally, Capital Research Global Investors acquired a new stake in shares of Okta during the second quarter worth $9,947,000. 13.41% of the stock is owned by hedge funds and other 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.

Analyst Recommendations for Okta (NASDAQ:OKTA)

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