Okta (NASDAQ:OKTA) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday, January 20th.
A number of other brokerages have also weighed in on OKTA. KeyCorp reissued a “buy” rating and issued a $35.00 target price on shares of Okta in a research report on Friday, November 10th. Zacks Investment Research lowered Okta from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Oppenheimer reaffirmed a “buy” rating and set a $34.00 price target on shares of Okta in a research report on Thursday, December 7th. SunTrust Banks started coverage on shares of Okta in a research report on Friday, October 27th. They set a “buy” rating and a $36.00 price target for the company. Finally, William Blair started coverage on shares of Okta in a research report on Wednesday, October 4th. They set an “outperform” rating for the company. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $33.25.
Okta (NASDAQ OKTA) opened at $30.63 on Friday. The stock has a market cap of $3,120.00 and a PE ratio of -26.63. Okta has a one year low of $21.52 and a one year high of $33.64.
Okta (NASDAQ:OKTA) last issued its earnings results on Wednesday, December 6th. The company reported ($0.34) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.05. Okta had a negative return on equity of 169.65% and a negative net margin of 46.70%. equities analysts expect that Okta will post -1.48 earnings per share for the current year.
In other Okta news, CFO William E. Losch sold 2,600 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $30.00, for a total value of $78,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,400 shares in the company, valued at approximately $72,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd Mckinnon sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $29.67, for a total value of $2,225,250.00. The disclosure for this sale can be found here. Insiders sold a total of 845,527 shares of company stock valued at $23,385,046 over the last three months.
Hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP bought a new position in Okta in the 2nd quarter worth approximately $101,000. SG Americas Securities LLC bought a new position in shares of Okta during the 3rd quarter valued at approximately $128,000. Invictus RG bought a new position in shares of Okta during the 3rd quarter valued at approximately $211,000. Paulson & CO. Inc. bought a new position in shares of Okta during the 2nd quarter valued at approximately $171,000. Finally, Hershey Trust Co. bought a new position in shares of Okta during the 4th quarter valued at approximately $195,000. Institutional investors and hedge funds own 16.95% of the company’s stock.
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Okta Company Profile
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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