Okta (OKTA) Downgraded by BidaskClub
BidaskClub downgraded shares of Okta (NASDAQ:OKTA) from a hold rating to a sell rating in a report issued on Thursday.
Several other analysts also recently issued reports on the stock. Oppenheimer reissued a buy rating and issued a $34.00 price target on shares of Okta in a research report on Thursday, December 7th. KeyCorp restated a buy rating and set a $35.00 price objective on shares of Okta in a research note on Friday, November 10th. Zacks Investment Research cut Okta from a buy rating to a hold rating in a research note on Thursday, November 9th. SunTrust Banks began coverage on Okta in a research note on Friday, October 27th. They set a buy rating and a $36.00 price objective on the stock. Finally, William Blair began coverage on Okta in a research note on Wednesday, October 4th. They set an outperform rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $33.00.
Shares of Okta (NASDAQ:OKTA) opened at $25.52 on Thursday. Okta has a 52-week low of $21.52 and a 52-week high of $33.64. The stock has a market cap of $2,580.00 and a price-to-earnings ratio of -22.19.
In related news, insider Ventures Iv L.P. Khosla sold 300,000 shares of Okta stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $25.49, for a total value of $7,647,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Jonathan T. Runyan sold 9,375 shares of Okta stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $25.22, for a total value of $236,437.50. The disclosure for this sale can be found here. Insiders have sold a total of 1,688,504 shares of company stock worth $47,018,614 over the last quarter.
Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC acquired a new stake in Okta in the 2nd quarter worth $23,135,000. JPMorgan Chase & Co. acquired a new position in shares of Okta in the second quarter valued at $21,855,000. Vanguard Group Inc. acquired a new position in shares of Okta in the second quarter valued at $21,749,000. Capital World Investors acquired a new position in shares of Okta in the second quarter valued at $11,400,000. Finally, Capital Research Global Investors acquired a new position in shares of Okta in the second quarter valued at $9,947,000. 14.30% of the stock is currently owned by hedge funds and other institutional investors.
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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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