Okta, Inc. (NASDAQ:OKTA) Receives Consensus Rating of “Hold” from Analysts (2024)

Posted by Defense World Staff on Jun 3rd, 2024

Shares of Okta, Inc. (NASDAQ:OKTA – Get Free Report) have been given a consensus rating of “Hold” by the thirty-one research firms that are presently covering the company, MarketBeat reports. Nineteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $104.81.

A number of analysts have weighed in on the stock. Robert W. Baird increased their target price on shares of Okta from $90.00 to $108.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Needham & Company LLC reiterated a “buy” rating and set a $130.00 price target on shares of Okta in a research report on Thursday. Canaccord Genuity Group boosted their price objective on Okta from $85.00 to $95.00 and gave the company a “hold” rating in a research report on Thursday, February 29th. UBS Group lowered their price objective on Okta from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Royal Bank of Canada boosted their price target on shares of Okta from $95.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, February 29th.

View Our Latest Report on OKTA

Okta Price Performance

Shares of OKTA opened at $88.68 on Monday. Okta has a 52 week low of $65.04 and a 52 week high of $114.50. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.20. The firm has a market cap of $14.84 billion, a price-to-earnings ratio of -53.10 and a beta of 0.98. The stock has a 50 day moving average of $97.98 and a 200-day moving average of $90.62.

Insider Activity

In other Okta news, Director Shellye L. Archambeau sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were 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 directly owns 6,042 shares in the company, valued at $646,252.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Shibu Ninan sold 4,279 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $104.14, for a total transaction of $445,615.06. Following the transaction, the chief accounting officer now directly owns 4,111 shares of the company’s stock, valued at $428,119.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shellye L. Archambeau sold 5,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 6,042 shares of the company’s stock, valued at $646,252.32. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by company insiders.

Institutional Trading of Okta

Hedge funds have recently made changes to their positions in the stock. City State Bank boosted its position in Okta by 160.0% during the first quarter. City State Bank now owns 260 shares of the company’s stock valued at $27,000 after purchasing an additional 160 shares during the last quarter. NBC Securities Inc. acquired a new position in Okta in the third quarter worth approximately $27,000. GAMMA Investing LLC acquired a new position in Okta in the fourth quarter worth approximately $29,000. Venturi Wealth Management LLC raised its position in Okta by 50.4% during the first quarter. Venturi Wealth Management LLC now owns 391 shares of the company’s stock valued at $41,000 after acquiring an additional 131 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in Okta in the fourth quarter valued at approximately $48,000. 86.64% of the stock is owned by hedge funds and other institutional investors.