Okta (NASDAQ:OKTA) had its price target raised by JPMorgan Chase & Co. to $50.00 in a research report sent to investors on Thursday. JPMorgan Chase & Co. currently has an overweight rating on the stock.
Other equities analysts have also recently issued reports about the company. Deutsche Bank initiated coverage on Okta in a report on Friday, February 23rd. They set a buy rating and a $43.00 target price for the company. Needham & Company LLC initiated coverage on Okta in a report on Wednesday, February 14th. They set a buy rating and a $38.00 target price for the company. BidaskClub upgraded Okta from a hold rating to a buy rating in a report on Saturday, February 10th. KeyCorp restated a buy rating and set a $35.00 target price on shares of Okta in a report on Friday, November 10th. Finally, Oppenheimer reiterated a buy rating and issued a $34.00 price objective on shares of Okta in a research note on Thursday, December 7th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Okta presently has an average rating of Buy and a consensus price target of $41.45.
Okta (OKTA) opened at $39.71 on Thursday. Okta has a twelve month low of $21.52 and a twelve month high of $42.88. The company has a market capitalization of $4,050.00 and a PE ratio of -33.37.
In related news, CEO Todd Mckinnon sold 75,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $26.11, for a total transaction of $1,958,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Jonathan T. Runyan sold 3,125 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $25.99, for a total value of $81,218.75. Following the sale, the general counsel now owns 3,125 shares of the company’s stock, valued at approximately $81,218.75. The disclosure for this sale can be found here. Insiders sold a total of 603,375 shares of company stock valued at $16,872,047 in the last quarter.
A number of hedge funds have recently bought and sold shares of OKTA. SG Americas Securities LLC purchased a new stake in Okta during the third quarter worth approximately $128,000. Hershey Trust Co. purchased a new stake in Okta during the fourth quarter worth approximately $195,000. Invictus RG purchased a new stake in Okta during the third quarter worth approximately $211,000. The Manufacturers Life Insurance Company purchased a new stake in Okta during the second quarter worth approximately $219,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in Okta during the fourth quarter worth approximately $239,000. 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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