The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Okta Inc. shares valued at $19,828 were sold by Kerrest Jacques Frederic on Jun 27. At $99.14 per share, Kerrest Jacques Frederic sold 200 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
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Also, Kerrest Jacques Frederic sold 100 shares, netting a total of over 9,916 in proceeds. Following the sale of shares at $99.16 each, the insider now holds 16,561 shares.
Before that, Kerrest Jacques Frederic had sold 2,535 shares from its account. In a trade valued at $202,733, the insider traded Okta Inc. shares for $79.97 each. Upon closing the transaction, the insider’s holdings decreased to 2,535 shares, worth approximately $1.59 million.
As published in their initiating research note from Bernstein on July 20, 2022, Okta Inc. [OKTA] has been a Mkt perform and the price target has been revised to $94. This represents a -10.71% premium over Thursday’s closing price. Analysts at Stephens started covering the stock with ‘”an Overweight”‘ outlook in a report released in late May. As of March 23, 2022, Raymond James has decreased its “an Outperform” rating to a “Mkt perform” for OKTA. Earlier on March 22, 2022, Truist downgraded its rating. Their new recommendation was “a Hold” for OKTA stock which previously was a “a Buy”.
Analyzing OKTA’s Price Performance
On Thursday, Okta Inc. [NASDAQ: OKTA] plunged -0.40% to $104.07. The stock’s lowest price that day was $100.54, but it reached a high of $105.42 in the same session. During the last five days, there has been a surge of approximately 5.76%. Over the course of the year, Okta Inc. shares have dropped approximately -53.58%. Shares of the company reached a 52-week high of $226.49 on 01/03/22 and a 52-week low of $77.01 on 05/24/22. A 50-day SMA is recorded $93.92, while a 200-day SMA reached $162.84. Nevertheless, trading volume fell to 1.19 million shares from 1.34 million shares the previous day.
Support And Resistance Levels for Okta Inc. (OKTA)
According to the 24-hour chart, there is a support level at 101.27, which, if violated, would cause prices to drop to 98.46. In the upper region, resistance lies at 106.15. The next price resistance is at 108.22. RSI (Relative Strength Index) is 57.59 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.93, which suggests the price will increase in the coming days. Percent R is at 22.52%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Okta Inc. subject to short interest?
Stocks of Okta Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.69 million shares to 7.02 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 6.33 million shares. A jump of 9.83% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.64 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.64.
Which companies own the most shares of Okta Inc. (OKTA)?
According to T. Rowe Price Associates, Inc. filings, the company currently owns 13,840,810 shares, which is about 9.18% of the total OKTA shares outstanding. The investor’s shares have appreciated by 2,950,834 from its previous 13-F filing of 10889976.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $1,195,196,480. BlackRock Fund Advisors acquire a 2.52% interest valued at $524.22 million while Fidelity Management & Research Co purchased a 1,286,420 stake. A total of 137,891 shares of Okta Inc. were bought by BlackRock Advisors LLC during the quarter, and 110,809 were bought by SSgA Funds Management, Inc. In its current portfolio, Capital Research & Management Co holds 2,817,700 shares valued at $254.72 million.
In terms of Okta Inc. share price expectations, FactSet research, analysts set an average price target of $141.32 in the next 12 months, up nearly 33.98% from the previous closing price of $104.49. Analysts anticipate Okta Inc. stock to reach $174.00 by 2022, with the lowest price target being $94.00. In spite of this, 29 analysts ranked Okta Inc. stock as a Buy at the end of 2022. On March 08, 2022, Mizuho assigned a price target of “a Buy” to the stock and upgraded coverage with a $225.