Insider Selling: Okta, Inc. (NASDAQ:OKTA) CEO Sells 18,474 Shares of Stock

Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon sold 18,474 shares of the stock in a transaction that occurred on Monday, September 20th. The shares were sold at an average price of $253.05, for a total transaction of $4,674,845.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

  • On Thursday, September 16th, Todd Mckinnon sold 4,698 shares of Okta stock. The shares were sold at an average price of $252.65, for a total transaction of $1,186,949.70.
  • On Friday, August 20th, Todd Mckinnon sold 13,818 shares of Okta stock. The stock was sold at an average price of $231.95, for a total transaction of $3,205,085.10.
  • On Tuesday, July 20th, Todd Mckinnon sold 13,818 shares of Okta stock. The stock was sold at an average price of $246.30, for a total transaction of $3,403,373.40.

Shares of NASDAQ OKTA traded up $5.69 during trading on Wednesday, hitting $257.45. The company had a trading volume of 1,099,071 shares, compared to its average volume of 1,712,786. The stock has a fifty day simple moving average of $249.53 and a two-hundred day simple moving average of $241.77. Okta, Inc. has a fifty-two week low of $199.08 and a fifty-two week high of $294.00. The firm has a market capitalization of $39.82 billion, a price-to-earnings ratio of -67.75 and a beta of 0.97. The company has a quick ratio of 3.15, a current ratio of 3.15 and a debt-to-equity ratio of 0.29.

Okta (NASDAQ:OKTA) last announced its earnings results on Tuesday, August 31st. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.24. Okta had a negative net margin of 52.47% and a negative return on equity of 18.64%. The business had revenue of $316.00 million for the quarter, compared to analyst estimates of $293.16 million. During the same quarter last year, the business earned $0.07 earnings per share. The company’s revenue for the quarter was up 57.7% compared to the same quarter last year. On average, analysts anticipate that Okta, Inc. will post -4.8 earnings per share for the current year.

A number of research analysts have issued reports on the stock. Mizuho raised their price target on shares of Okta from $275.00 to $290.00 and gave the stock a “neutral” rating in a report on Thursday, September 2nd. Truist Securities raised their price target on shares of Okta from $260.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, September 2nd. William Blair reaffirmed an “outperform” rating on shares of Okta in a report on Thursday, September 2nd. KGI Securities started coverage on shares of Okta in a report on Friday, July 2nd. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. increased their price objective on shares of Okta from $235.00 to $245.00 and gave the stock a “neutral” rating in a research note on Thursday, May 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Okta presently has a consensus rating of “Buy” and an average target price of $289.67.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jasper Ridge Partners L.P. acquired a new stake in shares of Okta in the second quarter valued at about $2,237,000. Parametric Portfolio Associates LLC lifted its stake in shares of Okta by 10.1% in the second quarter. Parametric Portfolio Associates LLC now owns 245,060 shares of the company’s stock worth $59,961,000 after buying an additional 22,452 shares in the last quarter. Sawtooth Solutions LLC purchased a new position in shares of Okta in the second quarter worth about $247,000. B. Metzler seel. Sohn & Co. Holding AG lifted its stake in shares of Okta by 52.1% in the second quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 4,928 shares of the company’s stock worth $1,206,000 after buying an additional 1,688 shares in the last quarter. Finally, Menlo Advisors LLC purchased a new position in shares of Okta in the second quarter worth about $3,515,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Okta Company Profile

Okta, Inc engages in the provision of identity management platform for the enterprise. It operates through United States and International geographical segments. The firm’s products include single sign-on, multi factor authentication, API access management, authentication, user management, and lifecycle management.

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