Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Okta Inc shares valued at $257,196 were sold by Schwartz Larissa on Aug 13 ’24. At $92.02 per share, Schwartz Larissa sold 2,795 shares. The insider’s holdings dropped to 27,014 shares worth approximately $1.98 million following the completion of this transaction.
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Also, LARISSA N SCHWARTZ purchased 2,795 shares, netting a total of over 257,196 in proceeds.
Before that, McKinnon Todd had sold 179,687 shares from its account. In a trade valued at $16,786,840, the Chief Executive Officer traded Okta Inc shares for $93.42 each. Upon closing the transaction, the insider’s holdings decreased to 179,687 shares, worth approximately $3.51 million.
As published in a research note from BMO Capital Markets on August 29, 2024, Okta Inc [OKTA] has been retained to a Market perform and the price target has been revised to $103. Analysts at BofA Securities downgraded the stock from ‘”a Buy”‘ to ‘”an Underperform”‘ outlook in a report released in late August. As of May 30, 2024, Evercore ISI has increased its “an In-line” rating to a “an Outperform” for OKTA. Earlier on February 29, 2024, BofA Securities upgraded its rating. Their new recommendation was “a Buy” for OKTA stock which previously was a “an Underperform”.
Analyzing OKTA Stock Performance
During the last five days, there has been a drop of approximately -2.55%. Over the course of the year, Okta Inc shares have dropped approximately -18.99%. Shares of the company reached a 52-week high of $114.50 on 03/08/24 and a 52-week low of $70.56 on 09/10/24. A 50-day SMA is recorded $90.55, while a 200-day SMA reached $90.98. Nevertheless, trading volume fell to 2.31 million shares from 2.88 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 71.50, which, if violated, would cause prices to drop to 69.65. In the upper region, resistance lies at 74.50. The next price resistance is at 75.65. RSI (Relative Strength Index) is 27.84 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -10.97, which suggests the price will decrease in the coming days. Percent R is at 90.53%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
