Brett Tighe Sells 10,000 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA - Get Free Report) CFO Brett Tighe sold 10,000 shares of Okta stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $95.00, for a total transaction of $950,000.00. Following the transaction, the chief financial officer owned 132,288 shares of the company's stock, valued at $12,567,360. The trade was a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Okta Stock Down 0.2%

Okta stock traded down $0.21 during mid-day trading on Tuesday, reaching $95.65. 2,163,161 shares of the company's stock were exchanged, compared to its average volume of 3,145,748. The company has a market cap of $16.75 billion, a P/E ratio of 151.83, a P/E/G ratio of 4.62 and a beta of 0.82. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $127.57. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.05. The company has a fifty day moving average of $105.12 and a 200-day moving average of $101.55.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.09. Okta had a net margin of 4.85% and a return on equity of 2.79%. The business had revenue of $688.00 million for the quarter, compared to analyst estimates of $680.14 million. During the same period last year, the business earned $0.65 EPS. The company's revenue was up 11.5% on a year-over-year basis. Sell-side analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

Institutional Trading of Okta

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Okta in the fourth quarter valued at approximately $234,992,000. Massachusetts Financial Services Co. MA grew its holdings in Okta by 325.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company's stock valued at $389,308,000 after purchasing an additional 2,830,582 shares during the period. Alkeon Capital Management LLC purchased a new stake in Okta in the first quarter valued at approximately $199,918,000. Ameriprise Financial Inc. grew its holdings in Okta by 2,135.7% in the fourth quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock valued at $150,845,000 after purchasing an additional 1,828,630 shares during the period. Finally, Ninety One UK Ltd purchased a new stake in Okta in the first quarter valued at approximately $189,915,000. Hedge funds and other institutional investors own 86.64% of the company's stock.

Wall Street Analyst Weigh In

OKTA has been the subject of several research reports. BMO Capital Markets set a $132.00 price objective on shares of Okta and gave the company a "market perform" rating in a report on Wednesday, May 28th. Canaccord Genuity Group upped their target price on shares of Okta from $100.00 to $115.00 and gave the company a "hold" rating in a research report on Wednesday, May 28th. Arete Research raised shares of Okta to a "strong sell" rating and set a $83.00 price objective on the stock in a research report on Monday, July 7th. Barclays reduced their price objective on shares of Okta from $135.00 to $120.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 28th. Finally, Royal Bank Of Canada reduced their price objective on shares of Okta from $143.00 to $135.00 and set an "outperform" rating on the stock in a research 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 assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $119.44.

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.