Jonathan James Addison Sells 3,000 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA - Get Free Report) CRO Jonathan James Addison sold 3,000 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $91.81, for a total transaction of $275,430.00. Following the sale, the executive directly owned 16,067 shares of the company's stock, valued at $1,475,111.27. This represents a 15.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Jonathan James Addison also recently made the following trade(s):

• On Tuesday, July 15th, Jonathan James Addison sold 3,000 shares of Okta stock. The shares were sold at an average price of $91.81, for a total transaction of $275,430.00.
• On Monday, July 14th, Jonathan James Addison sold 6,027 shares of Okta stock. The shares were sold at an average price of $92.01, for a total transaction of $554,544.27.
• On Monday, July 14th, Jonathan James Addison sold 6,027 shares of Okta stock. The shares were sold at an average price of $92.01, for a total transaction of $554,544.27.

Okta Trading Down 0.0%

OKTA stock traded down $0.03 during midday trading on Wednesday, reaching $91.07. The company's stock had a trading volume of 2,153,203 shares, compared to its average volume of 3,123,246. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a fifty day simple moving average of $106.71 and a two-hundred day simple moving average of $101.11. Okta, Inc. has a 1 year low of $70.56 and a 1 year high of $127.57. The firm has a market capitalization of $15.94 billion, a price-to-earnings ratio of 144.56, a PEG ratio of 4.45 and a beta of 0.82.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in OKTA. ORG Wealth Partners LLC raised its stake in Okta by 10.1% in the 2nd quarter. ORG Wealth Partners LLC now owns 14,016 shares of the company's stock valued at $1,381,000 after purchasing an additional 1,289 shares during the last quarter. Advisors Management Group Inc. ADV grew its holdings in shares of Okta by 73.2% during the 2nd quarter. Advisors Management Group Inc. ADV now owns 21,507 shares of the company's stock worth $2,150,000 after purchasing an additional 9,090 shares during the period. State of Alaska Department of Revenue purchased a new position in Okta during the 2nd quarter valued at about $1,880,000. CX Institutional boosted its holdings in Okta by 33.0% during the 2nd quarter. CX Institutional now owns 661 shares of the company's stock valued at $66,000 after acquiring an additional 164 shares during the period. Finally, Public Employees Retirement System of Ohio raised its position in Okta by 2.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 51,421 shares of the company's stock valued at $5,141,000 after purchasing an additional 1,308 shares in the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on OKTA shares. The Goldman Sachs Group raised their target price on shares of Okta from $123.00 to $137.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Royal Bank Of Canada decreased their target price on shares of Okta from $143.00 to $135.00 and set an "outperform" rating for the company in a research report on Wednesday, May 28th. DA Davidson decreased their target price on shares of Okta from $145.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Cantor Fitzgerald started coverage on shares of Okta in a research report on Monday, March 31st. They issued an "overweight" rating and a $130.00 target price for the company. Finally, BTIG Research reaffirmed a "buy" rating on shares of Okta in a research report on Thursday, May 22nd. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average 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.

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