Okta Inc (NASDAQ:OKTA) Director Benjamin A. Horowitz sold 48,897 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $106.15, for a total transaction of $5,190,416.55. Following the completion of the sale, the director now directly owns 11,765 shares in the company, valued at $1,248,854.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of OKTA stock traded up $1.22 during mid-day trading on Friday, hitting $110.93. 2,060,232 shares of the stock were exchanged, compared to its average volume of 2,050,441. Okta Inc has a 52-week low of $41.88 and a 52-week high of $111.65. The firm has a market cap of $12.31 billion, a P/E ratio of -107.70 and a beta of 1.32.
Okta (NASDAQ:OKTA) last posted its earnings results on Thursday, March 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.03. Okta had a negative net margin of 31.43% and a negative return on equity of 44.56%. The business had revenue of $115.47 million for the quarter, compared to analyst estimates of $107.94 million. On average, research analysts expect that Okta Inc will post -1.38 EPS for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in OKTA. Golden State Wealth Management LLC acquired a new position in shares of Okta during the 1st quarter worth about $29,000. Ffcm LLC acquired a new position in shares of Okta during the 4th quarter worth about $36,000. Optimum Investment Advisors acquired a new position in shares of Okta during the 1st quarter worth about $50,000. Intercontinental Wealth Advisors LLC acquired a new position in shares of Okta during the 4th quarter worth about $55,000. Finally, Tortoise Index Solutions LLC acquired a new position in shares of Okta during the 1st quarter worth about $55,000. Hedge funds and other institutional investors own 64.83% of the company’s stock.
Several research firms have commented on OKTA. Zacks Investment Research lowered shares of Okta from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Needham & Company LLC reissued a “buy” rating and set a $105.00 target price (up from $96.00) on shares of Okta in a research note on Thursday, April 4th. Monness Crespi & Hardt increased their target price on shares of Okta from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Canaccord Genuity increased their target price on shares of Okta from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. They noted that the move was a valuation call. Finally, Mizuho began coverage on shares of Okta in a research note on Tuesday, March 26th. They set a “neutral” rating and a $85.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Okta presently has a consensus rating of “Buy” and an average price target of $82.11.
Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.
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