Okta (OKTA) Now Covered by Analysts at Needham & Company LLC
Equities research analysts at Needham & Company LLC initiated coverage on shares of Okta (NASDAQ:OKTA) in a research report issued on Wednesday. The brokerage set a “buy” rating and a $38.00 price target on the stock. Needham & Company LLC’s target price suggests a potential upside of 20.37% from the company’s previous close.
A number of other research firms also recently issued reports on OKTA. BidaskClub upgraded shares of Okta from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Investment Research downgraded shares of Okta from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. SunTrust Banks initiated coverage on shares of Okta in a research report on Friday, October 27th. They set a “buy” rating and a $36.00 target price on the stock. KeyCorp restated a “buy” rating and set a $35.00 target price on shares of Okta in a research report on Friday, November 10th. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $34.00 price target on shares of Okta in a research note on Thursday, December 7th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $33.78.
Okta (NASDAQ:OKTA) opened at $31.57 on Wednesday. Okta has a 52-week low of $21.52 and a 52-week high of $33.64.
In related news, CEO Todd Mckinnon sold 75,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $29.67, for a total transaction of $2,225,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jacques Frederic Kerrest sold 5,500 shares of the 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 $165,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 845,527 shares of company stock valued at $23,385,046.
A number of hedge funds and other institutional investors have recently bought and sold shares of OKTA. SG Americas Securities LLC bought a new stake in Okta during the 3rd quarter worth approximately $128,000. Paulson & CO. Inc. bought a new stake in Okta during the 2nd quarter worth approximately $171,000. Hershey Trust Co. bought a new stake in Okta during the 4th quarter worth approximately $195,000. Invictus RG bought a new stake in Okta during the 3rd quarter worth approximately $211,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Okta during the 2nd quarter worth approximately $219,000. 16.95% of the stock is owned by institutional investors and hedge funds.
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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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