Larissa Schwartz Sells 1,105 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA - Get Free Report) insider Larissa Schwartz sold 1,105 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $98.50, for a total value of $108,842.50. Following the sale, the insider now owns 25,884 shares in the company, valued at $2,549,574. The trade was a 4.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Larissa Schwartz also recently made the following trade(s):

• On Friday, June 20th, Larissa Schwartz sold 2,244 shares of Okta stock. The shares were sold at an average price of $100.00, for a total value of $224,400.00.

Okta Stock Up 0.4%

Shares of NASDAQ OKTA traded up $0.42 during mid-day trading on Friday, reaching $99.42. The company had a trading volume of 5,150,031 shares, compared to its average volume of 3,044,335. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $127.57. 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 market capitalization of $17.41 billion, a PE ratio of 157.81, a price-to-earnings-growth ratio of 4.79 and a beta of 0.84. The stock's 50 day moving average is $109.24 and its 200-day moving average is $99.27.

Okta (NASDAQ:OKTA - Get Free Report) last posted 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 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 the consensus estimate of $680.14 million. During the same period in the prior year, the business posted $0.65 earnings per share. Okta's revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, equities analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

OKTA has been the topic of several research reports. Evercore ISI upped their price objective on Okta from $122.00 to $130.00 and gave the company an "outperform" rating in a research note on Wednesday, May 28th. Mizuho lowered their target price on Okta from $135.00 to $130.00 and set an "outperform" rating for the company in a report on Wednesday, May 28th. Guggenheim lowered their target price on Okta from $140.00 to $138.00 and set a "buy" rating for the company in a report on Wednesday, May 28th. UBS Group lowered their target price on Okta from $150.00 to $130.00 and set a "buy" rating for the company in a report on Wednesday, May 28th. Finally, JPMorgan Chase & Co. upped their target price on Okta from $120.00 to $140.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $121.59.

Hedge Funds Weigh In On Okta

Several hedge funds have recently bought and sold shares of OKTA. Norges Bank acquired a new position in Okta during the fourth quarter worth $234,992,000. Massachusetts Financial Services Co. MA increased its position in Okta by 325.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company's stock worth $389,308,000 after buying an additional 2,830,582 shares during the last quarter. Alkeon Capital Management LLC acquired a new position in Okta during the first quarter worth $199,918,000. Ameriprise Financial Inc. increased its position in Okta by 2,135.7% during the fourth quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock worth $150,845,000 after buying an additional 1,828,630 shares during the last quarter. Finally, Ninety One UK Ltd acquired a new position in Okta during the first quarter worth $189,915,000. 86.64% of the stock is owned by institutional investors and hedge funds.

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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