Insider Selling: Okta, Inc. (NASDAQ:OKTA) Director Sells 34,620 Shares of Stock

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 34,620 shares of the stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $96.04, for a total transaction of $3,324,904.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Jacques Frederic Kerrest also recently made the following trade(s):

• On Tuesday, July 2nd, Jacques Frederic Kerrest sold 3,280 shares of Okta stock. The shares were sold at an average price of $95.64, for a total transaction of $313,699.20.
• On Friday, June 28th, Jacques Frederic Kerrest sold 2,100 shares of Okta stock. The stock was sold at an average price of $95.12, for a total transaction of $199,752.00.
• On Thursday, June 20th, Jacques Frederic Kerrest sold 1,552 shares of Okta stock. The stock was sold at an average price of $86.99, for a total transaction of $135,008.48.
• On Monday, June 10th, Jacques Frederic Kerrest sold 18,878 shares of Okta stock. The shares were sold at an average price of $87.19, for a total transaction of $1,645,972.82.

Okta Stock Down 3.5 %

Shares of NASDAQ:OKTA traded down $3.41 during midday trading on Tuesday, reaching $94.64. The company’s stock had a trading volume of 2,134,135 shares, compared to its average volume of 1,879,107. The firm has a 50 day moving average of $93.61 and a 200-day moving average of $93.36. The firm has a market capitalization of $15.92 billion, a P/E ratio of -54.91 and a beta of 1.03. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.19. Okta, Inc. has a 12-month low of $65.04 and a 12-month high of $114.50.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, May 29th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.27. The firm had revenue of $617.00 million for the quarter, compared to the consensus estimate of $604.33 million. Okta had a negative net margin of 11.69% and a negative return on equity of 3.81%. On average, research analysts anticipate that Okta, Inc. will post -0.28 earnings per share for the current year.

Wall Street Analyst Weigh In

OKTA has been the subject of a number of analyst reports. Wedbush restated an “outperform” rating and issued a $130.00 price objective on shares of Okta in a research report on Wednesday, May 29th. Needham & Company LLC restated a “buy” rating and issued a $130.00 price objective on shares of Okta in a research report on Thursday, May 30th. Royal Bank of Canada restated an “outperform” rating and issued a $125.00 price objective on shares of Okta in a research report on Monday, June 17th. BMO Capital Markets lowered their target price on shares of Okta from $110.00 to $100.00 and set a “market perform” rating on the stock in a research note on Monday, June 3rd. Finally, Evercore ISI raised shares of Okta from an “in-line” rating to an “outperform” rating and raised their target price for the company from $102.00 to $122.00 in a research note on Thursday, May 30th. Nineteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Okta currently has an average rating of “Hold” and a consensus price target of $105.58.

Hedge Funds Weigh In On Okta

A number of hedge funds have recently bought and sold shares of OKTA. City State Bank lifted its stake in Okta by 160.0% during the 1st quarter. City State Bank now owns 260 shares of the company’s stock valued at $27,000 after acquiring an additional 160 shares during the period. GAMMA Investing LLC bought a new position in Okta during the 4th quarter valued at about $29,000. EverSource Wealth Advisors LLC lifted its stake in Okta by 71.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after acquiring an additional 142 shares during the period. Venturi Wealth Management LLC lifted its stake in Okta by 50.4% during the 1st quarter. Venturi Wealth Management LLC now owns 391 shares of the company’s stock valued at $41,000 after acquiring an additional 131 shares during the period. Finally, Principal Securities Inc. bought a new position in Okta during the 4th quarter valued at about $48,000. Institutional investors own 86.64% of the company’s stock.

Okta Company Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.