Okta, Inc. (NASDAQ:OKTA) CRO Sells $764,655.50 in Stock

Okta, Inc. (NASDAQ:OKTA) CRO Jonathan James Addison sold 9,850 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $77.63, for a total value of $764,655.50. Following the sale, the executive now owns 14,601 shares in the company, valued at approximately $1,133,475.63. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Okta Trading Up 0.5 %

Shares of OKTA stock opened at $74.82 on Friday. The business’s 50 day moving average is $80.44 and its two-hundred day moving average is $89.29. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18. Okta, Inc. has a 12 month low of $65.04 and a 12 month high of $114.50. The company has a market cap of $12.71 billion, a PE ratio of -89.07, a price-to-earnings-growth ratio of 18.05 and a beta of 1.02.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, August 28th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.29. The firm had revenue of $646.00 million for the quarter, compared to the consensus estimate of $632.24 million. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. Equities analysts predict that Okta, Inc. will post 0.19 EPS for the current year.

Hedge Funds Weigh In On Okta

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Okta by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 15,719,619 shares of the company’s stock worth $1,423,097,000 after buying an additional 438,496 shares during the period. B. Riley Wealth Advisors Inc. increased its position in Okta by 19.5% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 3,405 shares of the company’s stock worth $308,000 after acquiring an additional 556 shares during the period. SG Americas Securities LLC raised its stake in Okta by 122.3% during the 3rd quarter. SG Americas Securities LLC now owns 17,021 shares of the company’s stock valued at $1,265,000 after purchasing an additional 9,364 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in Okta by 282.5% in the 1st quarter. Los Angeles Capital Management LLC now owns 248,658 shares of the company’s stock valued at $26,015,000 after purchasing an additional 183,643 shares during the period. Finally, Principal Financial Group Inc. grew its position in Okta by 28.6% in the 1st quarter. Principal Financial Group Inc. now owns 13,144 shares of the company’s stock worth $1,375,000 after purchasing an additional 2,925 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on OKTA. BMO Capital Markets boosted their price target on shares of Okta from $100.00 to $103.00 and gave the company a “market perform” rating in a report on Thursday, August 29th. Bank of America lowered Okta from a “buy” rating to an “underperform” rating and reduced their target price for the company from $135.00 to $75.00 in a report on Thursday, August 29th. Stifel Nicolaus lowered their price target on Okta from $122.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Jefferies Financial Group dropped their price target on Okta from $100.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. decreased their price objective on Okta from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $99.38.

About Okta

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.