Okta (NASDAQ:OKTA) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Several other equities research analysts also recently commented on the stock. FBN Securities assumed coverage on shares of Okta in a research report on Monday, January 22nd. They set an “outperform” rating and a $35.00 target price for the company. Oppenheimer reissued a “buy” rating and set a $34.00 target price on shares of Okta in a research report on Thursday, December 7th. KeyCorp reissued a “buy” rating and set a $35.00 target price on shares of Okta in a research report on Friday, November 10th. Zacks Investment Research downgraded shares of Okta from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Finally, SunTrust Banks assumed coverage on shares of Okta in a research report on Friday, October 27th. They set a “buy” rating and a $36.00 target price for the company. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $33.25.

Shares of Okta (NASDAQ:OKTA) opened at $28.87 on Friday. Okta has a 52 week low of $21.52 and a 52 week high of $33.64. The firm has a market cap of $2,940.00 and a price-to-earnings ratio of -25.10.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Wednesday, December 6th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.05. Okta had a negative net margin of 46.70% and a negative return on equity of 169.65%. equities analysts predict that Okta will post -1.48 EPS for the current fiscal year.

In other news, CEO Todd Mckinnon sold 75,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $29.67, for a total transaction of $2,225,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO William E. Losch sold 12,200 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $29.05, for a total transaction of $354,410.00. Following the sale, the chief financial officer now directly owns 12,200 shares of the company’s stock, valued at $354,410. The disclosure for this sale can be found here. Over the last three months, insiders have sold 857,727 shares of company stock valued at $23,739,456.

A number of institutional investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC boosted its holdings in Okta by 605.5% during the fourth quarter. Citadel Advisors LLC now owns 479,218 shares of the company’s stock worth $12,273,000 after purchasing an additional 411,288 shares during the last quarter. American International Group Inc. boosted its holdings in Okta by 75.9% during the fourth quarter. American International Group Inc. now owns 13,110 shares of the company’s stock worth $336,000 after purchasing an additional 5,658 shares during the last quarter. LLBH Private Wealth Management LLC purchased a new position in Okta during the fourth quarter worth about $379,000. BlackRock Inc. boosted its holdings in Okta by 24.4% during the fourth quarter. BlackRock Inc. now owns 1,577,619 shares of the company’s stock worth $40,404,000 after purchasing an additional 309,147 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Okta by 38.7% during the fourth quarter. Bank of New York Mellon Corp now owns 115,820 shares of the company’s stock worth $2,967,000 after purchasing an additional 32,292 shares during the last quarter. Institutional investors and hedge funds own 16.63% of the company’s stock.

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About Okta

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.

Analyst Recommendations for Okta (NASDAQ:OKTA)

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