Okta, Inc. (NASDAQ:OKTA) CEO Sells $8,801,836.68 in Stock

Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon sold 92,729 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $94.92, for a total value of $8,801,836.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Todd Mckinnon also recently made the following trade(s):

• On Friday, July 19th, Todd Mckinnon sold 179,687 shares of Okta stock. The stock was sold at an average price of $93.42, for a total value of $16,786,359.54.

Okta Stock Performance

OKTA traded up $1.03 during trading hours on Tuesday, hitting $96.05. The stock had a trading volume of 1,121,132 shares, compared to its average volume of 1,850,646. Okta, Inc. has a 1 year low of $65.04 and a 1 year high of $114.50. The company’s fifty day simple moving average is $93.36 and its 200 day simple moving average is $93.83. The stock has a market cap of $16.16 billion, a PE ratio of -57.71 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 (NASDAQ:OKTA) last issued 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. Okta had a negative net margin of 11.69% and a negative return on equity of 3.81%. The firm had revenue of $617.00 million during the quarter, compared to analyst estimates of $604.33 million. Equities analysts anticipate that Okta, Inc. will post -0.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Susquehanna lowered their target price on Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Okta in a research note on Thursday, May 30th. JPMorgan Chase & Co. boosted their target price on shares of Okta from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Guggenheim reaffirmed a “buy” rating and issued a $130.00 price target on shares of Okta in a research report on Tuesday, June 25th. Finally, UBS Group cut their price target on Okta from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Nineteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $105.58.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of OKTA. City State Bank lifted its position in shares of Okta by 160.0% during the first quarter. City State Bank now owns 260 shares of the company’s stock worth $27,000 after acquiring an additional 160 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of 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 purchasing an additional 142 shares during the period. GAMMA Investing LLC purchased a new stake in Okta during the 4th quarter worth about $29,000. Venturi Wealth Management LLC boosted its stake in Okta by 50.4% in the 1st quarter. Venturi Wealth Management LLC now owns 391 shares of the company’s stock worth $41,000 after purchasing an additional 131 shares during the period. Finally, Principal Securities Inc. bought a new position in Okta in the 4th quarter worth about $48,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

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.