Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Okta Inc shares valued at $15,080,307 were sold by McKinnon Todd on Sep 20 ’24. At $75.21 per share, McKinnon Todd sold 200,512 shares. The insider’s holdings dropped to 8,495 shares worth approximately $0.61 million following the completion of this transaction.
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Also, McKinnon Todd sold 32,516 shares, netting a total of over 2,478,435 in proceeds. Following the sale of shares at $76.22 each, the insider now holds 0 shares.
Before that, Todd McKinnon had added 457,561 shares to its account. In a trade valued at $34,326,226, the Director bought Okta Inc shares for $75.02 each.
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 -2.96%. Over the course of the year, Okta Inc shares have dropped approximately -20.37%. 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 $83.79, while a 200-day SMA reached $91.00. Nevertheless, trading volume fell to 1.35 million shares from 1.52 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 71.61, which, if violated, would cause prices to drop to 71.12. In the upper region, resistance lies at 72.60. The next price resistance is at 73.10. RSI (Relative Strength Index) is 29.77 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.89, which suggests the price will decrease in the coming days. Percent R is at 90.73%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
