Okta, Inc. (NASDAQ:OKTA) Given Consensus Rating of “Hold” by Brokerages

Shares of Okta, Inc. (NASDAQ:OKTA) have been assigned a consensus rating of “Hold” from the thirty research firms that are presently covering the stock, Marketbeat Ratings reports. Twenty research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $100.39.

A number of brokerages have weighed in on OKTA. Westpark Capital raised shares of Okta from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a report on Thursday, February 29th. Robert W. Baird upped their price target on shares of Okta from $90.00 to $108.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Canaccord Genuity Group upped their price target on shares of Okta from $85.00 to $95.00 and gave the company a “hold” rating in a report on Thursday, February 29th. Evercore ISI upped their price target on shares of Okta from $70.00 to $102.00 and gave the company an “in-line” rating in a report on Thursday, February 29th. Finally, Oppenheimer upped their price target on shares of Okta from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, February 29th.

Insider Transactions at Okta

In other news, CAO Shibu Ninan sold 2,500 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $90.23, for a total value of $225,575.00. Following the completion of the sale, the chief accounting officer now directly owns 6,539 shares of the company’s stock, valued at $590,013.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Shibu Ninan sold 2,500 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $90.23, for a total value of $225,575.00. Following the transaction, the chief accounting officer now owns 6,539 shares in the company, valued at $590,013.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Shellye L. Archambeau sold 5,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $106.96, for a total value of $534,800.00. Following the completion of the transaction, the director now owns 6,042 shares in the company, valued at approximately $646,252.32. The disclosure for this sale can be found here. Insiders sold 11,779 shares of company stock valued at $1,205,990 over the last three months. 7.36% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Okta

A number of hedge funds have recently added to or reduced their stakes in OKTA. Vanguard Group Inc. grew its holdings in Okta by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 15,719,619 shares of the company’s stock valued at $1,423,097,000 after purchasing an additional 438,496 shares during the last quarter. Sands Capital Management LLC grew its holdings in Okta by 42.3% during the fourth quarter. Sands Capital Management LLC now owns 8,358,414 shares of the company’s stock valued at $756,687,000 after purchasing an additional 2,486,456 shares during the last quarter. Voya Investment Management LLC grew its holdings in Okta by 25.7% during the fourth quarter. Voya Investment Management LLC now owns 4,695,126 shares of the company’s stock valued at $425,050,000 after purchasing an additional 959,693 shares during the last quarter. First Trust Advisors LP grew its holdings in Okta by 28.1% during the fourth quarter. First Trust Advisors LP now owns 4,085,430 shares of the company’s stock valued at $369,854,000 after purchasing an additional 897,216 shares during the last quarter. Finally, Cerity Partners LLC grew its holdings in Okta by 6,192.3% during the fourth quarter. Cerity Partners LLC now owns 3,172,223 shares of the company’s stock valued at $287,181,000 after purchasing an additional 3,121,809 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Performance

Shares of OKTA opened at $93.71 on Friday. The firm has a 50-day moving average price of $98.87 and a 200 day moving average price of $85.75. The firm has a market capitalization of $15.69 billion, a PE ratio of -43.18 and a beta of 1.00. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.20. Okta has a 52-week low of $65.04 and a 52-week high of $114.50.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.35. The firm had revenue of $605.00 million during the quarter, compared to analyst estimates of $586.25 million. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. On average, sell-side analysts anticipate that Okta will post -1.51 earnings per share for the current fiscal year.

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.