Okta Inc (NASDAQ:OKTA) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $111.84 and last traded at $111.29, with a volume of 10977 shares changing hands. The stock had previously closed at $109.65.

Several research analysts have recently issued reports on OKTA shares. SunTrust Banks downgraded Okta from a “buy” rating to a “hold” rating and upped their price objective for the company from $74.00 to $90.00 in a research note on Monday, March 4th. They noted that the move was a valuation call. Morgan Stanley assumed coverage on Okta in a report on Monday, February 4th. They issued an “equal weight” rating and a $85.00 target price on the stock. Goldman Sachs Group upgraded Okta from a “neutral” rating to a “buy” rating and upped their target price for the company from $80.00 to $94.00 in a report on Monday, March 18th. Monness Crespi & Hardt reiterated a “buy” rating and issued a $90.00 target price (up from $75.00) on shares of Okta in a report on Wednesday, March 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $96.00 target price (up from $75.00) on shares of Okta in a report on Friday, March 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $82.11.

The firm has a market capitalization of $12.31 billion, a PE ratio of -104.83 and a beta of 1.32.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.03. The firm had revenue of $115.47 million for the quarter, compared to analysts’ expectations of $107.94 million. Okta had a negative return on equity of 44.56% and a negative net margin of 31.43%. Research analysts expect that Okta Inc will post -1.38 earnings per share for the current fiscal year.

In related news, CFO William E. Losch sold 4,431 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $82.31, for a total value of $364,715.61. Following the transaction, the chief financial officer now directly owns 11,465 shares in the company, valued at approximately $943,684.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Jonathan T. Runyan sold 3,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $106.11, for a total value of $318,330.00. The disclosure for this sale can be found here. Insiders have sold a total of 630,462 shares of company stock worth $54,573,997 over the last 90 days. Company insiders own 14.69% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Independent Advisor Alliance lifted its holdings in shares of Okta by 2.5% in the 1st quarter. Independent Advisor Alliance now owns 4,123 shares of the company’s stock worth $341,000 after purchasing an additional 100 shares in the last quarter. Kovack Advisors Inc. lifted its holdings in shares of Okta by 2.5% in the 4th quarter. Kovack Advisors Inc. now owns 5,107 shares of the company’s stock worth $326,000 after purchasing an additional 126 shares in the last quarter. Piedmont Investment Advisors Inc. lifted its holdings in shares of Okta by 2.3% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 6,373 shares of the company’s stock worth $527,000 after purchasing an additional 146 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Okta by 13.0% in the 1st quarter. Signaturefd LLC now owns 1,382 shares of the company’s stock worth $114,000 after purchasing an additional 159 shares in the last quarter. Finally, Meitav Dash Investments Ltd. lifted its holdings in shares of Okta by 3.6% in the 1st quarter. Meitav Dash Investments Ltd. now owns 5,323 shares of the company’s stock worth $433,000 after purchasing an additional 183 shares in the last quarter. Institutional investors own 76.34% of the company’s stock.

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Okta Company Profile (NASDAQ:OKTA)

Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.

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