Okta (NASDAQ:OKTA) had its price objective upped by equities research analysts at Needham & Company LLC from $38.00 to $50.00 in a research note issued on Thursday, Marketbeat reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 25.91% from the company’s current price.
OKTA has been the subject of a number of other reports. Oppenheimer raised their target price on Okta from $34.00 to $40.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 21st. BidaskClub downgraded Okta from a “buy” rating to a “hold” rating in a research note on Tuesday, December 5th. KeyCorp reaffirmed a “buy” rating and issued a $35.00 target price on shares of Okta in a research note on Friday, November 10th. FBN Securities initiated coverage on Okta in a research note on Monday, January 22nd. They issued an “outperform” rating and a $35.00 target price for the company. Finally, Deutsche Bank initiated coverage on Okta in a research note on Friday, February 23rd. They issued a “buy” rating and a $43.00 target price for the company. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $41.45.
Okta (NASDAQ:OKTA) opened at $39.71 on Thursday. Okta has a 52 week low of $21.52 and a 52 week high of $42.88. The company has a market capitalization of $4,341.92 and a price-to-earnings ratio of -24.66.
In other Okta news, CFO William E. Losch sold 12,200 shares of Okta stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $26.13, for a total value of $318,786.00. Following the transaction, the chief financial officer now directly owns 12,200 shares in the company, valued at approximately $318,786. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Jonathan T. Runyan sold 2,500 shares of Okta stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $38.93, for a total value of $97,325.00. Following the completion of the transaction, the general counsel now owns 2,500 shares in the company, valued at $97,325. The disclosure for this sale can be found here. Insiders have sold a total of 615,575 shares of company stock worth $17,190,833 in the last three months.
Several institutional investors have recently bought and sold shares of the stock. Champlain Investment Partners LLC boosted its stake in shares of Okta by 387.3% in the fourth quarter. Champlain Investment Partners LLC now owns 2,859,000 shares of the company’s stock valued at $73,219,000 after buying an additional 2,272,290 shares in the last quarter. Glynn Capital Management LLC boosted its stake in shares of Okta by 3,125.6% in the fourth quarter. Glynn Capital Management LLC now owns 2,343,268 shares of the company’s stock valued at $60,011,000 after buying an additional 2,270,623 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Okta by 24.4% in the fourth quarter. BlackRock Inc. now owns 1,577,619 shares of the company’s stock valued at $40,404,000 after buying an additional 309,147 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Okta by 5.4% in the third quarter. JPMorgan Chase & Co. now owns 1,010,369 shares of the company’s stock valued at $29,291,000 after buying an additional 51,761 shares in the last quarter. Finally, Vanguard Group Inc. purchased a new stake in shares of Okta in the second quarter valued at approximately $21,749,000. Hedge funds and other institutional investors own 39.10% of the company’s stock.
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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.
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