Okta, Inc. (NASDAQ:OKTA - Get Free Report) insider Eric Robert Kelleher sold 16,018 shares of Okta stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $91.81, for a total transaction of $1,470,612.58. Following the sale, the insider owned 7,044 shares of the company's stock, valued at approximately $646,709.64. This trade represents a 69.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Okta Stock Performance
Shares of NASDAQ OKTA traded up $1.03 during mid-day trading on Thursday, hitting $92.10. The company had a trading volume of 2,565,016 shares, compared to its average volume of 3,132,026. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $127.57. The stock has a market cap of $16.12 billion, a price-to-earnings ratio of 146.19, a PEG ratio of 4.41 and a beta of 0.82. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.47 and a quick ratio of 1.47. The firm's 50 day simple moving average is $105.60 and its two-hundred day simple moving average is $101.13.
Okta (NASDAQ:OKTA - Get Free Report) last posted its earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.77 by $0.09. The company had revenue of $688.00 million for the quarter, compared to analysts' expectations of $680.14 million. Okta had a return on equity of 2.79% and a net margin of 4.85%. The firm's quarterly revenue was up 11.5% compared to the same quarter last year. During the same period last year, the business posted $0.65 earnings per share. As a group, equities research analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current year.
Analyst Ratings Changes
A number of brokerages have weighed in on OKTA. DA Davidson reduced their price target on Okta from $145.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Wells Fargo & Company increased their target price on Okta from $100.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 28th. JMP Securities restated a "market perform" rating on shares of Okta in a report on Wednesday, May 28th. BMO Capital Markets set a $132.00 price objective on shares of Okta and gave the stock a "market perform" rating in a report on Wednesday, May 28th. Finally, The Goldman Sachs Group boosted their target price on shares of Okta from $123.00 to $137.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $119.44.
Read Our Latest Stock Analysis on OKTA
Hedge Funds Weigh In On Okta
Several large investors have recently bought and sold shares of the stock. Wolff Wiese Magana LLC grew its stake in shares of Okta by 167.4% in the 1st quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock worth $26,000 after purchasing an additional 154 shares during the last quarter. Pinnacle Bancorp Inc. bought a new stake in Okta during the second quarter worth approximately $26,000. Wayfinding Financial LLC acquired a new position in Okta in the first quarter worth approximately $27,000. Harbour Investments Inc. increased its holdings in shares of Okta by 152.4% in the first quarter. Harbour Investments Inc. now owns 260 shares of the company's stock valued at $27,000 after buying an additional 157 shares in the last quarter. Finally, Rossby Financial LCC bought a new stake in shares of Okta during the 1st quarter worth $31,000. Institutional investors and hedge funds own 86.64% of the company's stock.
Okta Company Profile
(
Get Free Report)
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.
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