Loop Capital Begins Coverage on Okta (NASDAQ:OKTA)

Loop Capital started coverage on shares of Okta (NASDAQ:OKTA) in a research report report published on Monday morning, MarketBeat.com reports. The firm issued a buy rating and a $140.00 price objective on the stock.

Several other equities research analysts also recently weighed in on the stock. BTIG Research reiterated a “buy” rating on shares of Okta in a research note on Tuesday, March 4th. Susquehanna upped their price objective on Okta from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Westpark Capital reiterated a “buy” rating and issued a $140.00 target price on shares of Okta in a research note on Friday, February 28th. DA Davidson upgraded Okta from a “neutral” rating to a “buy” rating and upped their price target for the stock from $90.00 to $125.00 in a research note on Tuesday, March 4th. Finally, Jefferies Financial Group lifted their price objective on shares of Okta from $90.00 to $110.00 and gave the company a “hold” rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $116.80.

Okta Stock Up 0.9 %

OKTA stock opened at $118.07 on Monday. The company has a market cap of $20.50 billion, a price-to-earnings ratio of -337.33, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96. The company has a fifty day moving average price of $105.83 and a 200 day moving average price of $91.43. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta has a 12 month low of $70.56 and a 12 month high of $118.54.

Insider Activity at Okta

In related news, insider Eric Robert Kelleher sold 5,895 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $113.75, for a total value of $670,556.25. Following the sale, the insider now owns 9,828 shares of the company’s stock, valued at approximately $1,117,935. This represents a 37.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Larissa Schwartz sold 2,740 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $97.59, for a total value of $267,396.60. Following the transaction, the insider now directly owns 22,125 shares of the company’s stock, valued at $2,159,178.75. The trade was a 11.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 157,192 shares of company stock valued at $16,614,756. Insiders own 7.00% of the company’s stock.

Institutional Trading of Okta

A number of large investors have recently made changes to their positions in the stock. Bank of Jackson Hole Trust purchased a new position in Okta in the 4th quarter valued at about $25,000. Wolff Wiese Magana LLC raised its position in shares of Okta by 167.4% in the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company’s stock valued at $26,000 after buying an additional 154 shares during the last quarter. Wayfinding Financial LLC purchased a new position in shares of Okta during the first quarter valued at approximately $27,000. Rossby Financial LCC acquired a new stake in Okta during the first quarter worth approximately $31,000. Finally, TD Private Client Wealth LLC grew its stake in Okta by 3,507.7% in the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company’s stock worth $37,000 after acquiring an additional 456 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

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.