Okta, Inc. (NASDAQ:OKTA – Get Free Report) insider Larissa Schwartz sold 24,971 shares of Okta stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $134.13, for a total transaction of $3,349,360.23. Following the transaction, the insider directly owned 23,477 shares in the company, valued at $3,148,970.01. This trade represents a 51.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Larissa Schwartz also recently made the following trade(s):
- On Thursday, May 7th, Larissa Schwartz sold 1,054 shares of Okta stock. The stock was sold at an average price of $80.00, for a total transaction of $84,320.00.
- On Wednesday, May 6th, Larissa Schwartz sold 5,323 shares of Okta stock. The shares were sold at an average price of $77.06, for a total transaction of $410,190.38.
- On Tuesday, April 7th, Larissa Schwartz sold 6,377 shares of Okta stock. The shares were sold at an average price of $79.75, for a total transaction of $508,565.75.
- On Tuesday, March 10th, Larissa Schwartz sold 1,836 shares of Okta stock. The shares were sold at an average price of $79.89, for a total transaction of $146,678.04.
Okta Price Performance
Shares of OKTA stock traded down $1.17 during trading on Thursday, reaching $123.48. The company’s stock had a trading volume of 3,961,499 shares, compared to its average volume of 3,700,929. The company has a market capitalization of $21.84 billion, a price-to-earnings ratio of 89.48, a P/E/G ratio of 5.26 and a beta of 0.80. The stock’s 50-day moving average price is $83.09 and its 200 day moving average price is $83.98. Okta, Inc. has a 1-year low of $62.66 and a 1-year high of $142.35.
Hedge Funds Weigh In On Okta
A number of hedge funds have recently added to or reduced their stakes in OKTA. Vanguard Group Inc. boosted its holdings in shares of Okta by 5.7% during the third quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock valued at $1,815,956,000 after acquiring an additional 1,074,977 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Okta by 52.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 465,370 shares of the company’s stock valued at $40,241,000 after acquiring an additional 161,069 shares during the period. Elo Mutual Pension Insurance Co boosted its holdings in shares of Okta by 40.1% during the third quarter. Elo Mutual Pension Insurance Co now owns 52,597 shares of the company’s stock valued at $4,823,000 after acquiring an additional 15,058 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in shares of Okta during the fourth quarter valued at $3,122,000. Finally, Congress Asset Management Co. boosted its holdings in shares of Okta by 23.0% during the fourth quarter. Congress Asset Management Co. now owns 98,063 shares of the company’s stock valued at $8,480,000 after acquiring an additional 18,325 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.
Analyst Ratings Changes
Several research analysts have commented on OKTA shares. Needham & Company LLC boosted their price target on shares of Okta from $90.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Scotiabank boosted their price target on shares of Okta from $80.00 to $105.00 and gave the stock a “sector perform” rating in a research note on Friday, May 29th. Wells Fargo & Company boosted their price target on shares of Okta from $85.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Friday, May 29th. HSBC upgraded shares of Okta to a “buy” rating in a research note on Thursday, April 16th. Finally, Arete Research set a $127.00 price target on shares of Okta and gave the stock a “buy” rating in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Okta presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.29.
Check Out Our Latest Stock Analysis on Okta
About Okta
Okta, Inc is a publicly traded provider of identity and access management solutions, headquartered in San Francisco, California. Founded in 2009 by Todd McKinnon and Frederic Kerrest, the company completed its initial public offering in April 2017. Under the leadership of McKinnon as chief executive officer and Kerrest as chief operating officer, Okta has grown into a leading vendor in the cybersecurity space, focusing on secure user authentication, single sign-on and lifecycle management for digital identities.
At the core of Okta’s offering is the Okta Identity Cloud, a suite of cloud-native services that enable organizations to manage user access across web and mobile applications, on-premises systems and APIs.
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