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Jonathan T. Runyan Sells 1,525 Shares of Okta Inc (NASDAQ:OKTA) Stock

Last updated on Thursday, September 17, 2020 | 2020 MarketBeat

Okta Inc (NASDAQ:OKTA) General Counsel Jonathan T. Runyan sold 1,525 shares of the business's stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $194.31, for a total value of $296,322.75. Following the completion of the sale, the general counsel now directly owns 1,406 shares in the company, valued at $273,199.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Shares of NASDAQ:OKTA traded up $1.74 during midday trading on Thursday, hitting $194.90. The company had a trading volume of 1,579,276 shares, compared to its average volume of 1,869,088. The company has a debt-to-equity ratio of 2.74, a current ratio of 5.07 and a quick ratio of 5.07. The company has a market cap of $24.96 billion, a price-to-earnings ratio of -101.61 and a beta of 0.96. Okta Inc has a 12-month low of $88.66 and a 12-month high of $231.29. The company has a fifty day moving average of $207.59 and a two-hundred day moving average of $176.16.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Thursday, August 27th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.09. Okta had a negative return on equity of 35.07% and a negative net margin of 32.93%. The firm had revenue of $200.45 million during the quarter, compared to analyst estimates of $186.37 million. During the same period in the prior year, the business posted ($0.05) EPS. Okta's revenue was up 42.7% on a year-over-year basis. Research analysts expect that Okta Inc will post -1.48 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. increased its stake in Okta by 581.8% in the 2nd quarter. Principal Financial Group Inc. now owns 19,274 shares of the company's stock worth $3,859,000 after buying an additional 16,447 shares in the last quarter. Capital Advisors Inc. OK purchased a new stake in Okta in the 2nd quarter worth $355,000. PNC Financial Services Group Inc. increased its stake in Okta by 8.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 6,745 shares of the company's stock worth $1,351,000 after buying an additional 534 shares in the last quarter. Neuberger Berman Group LLC increased its stake in Okta by 65.6% in the 2nd quarter. Neuberger Berman Group LLC now owns 298,994 shares of the company's stock worth $59,866,000 after buying an additional 118,478 shares in the last quarter. Finally, Handelsbanken Fonder AB bought a new position in shares of Okta during the 2nd quarter valued at about $5,110,000. Institutional investors and hedge funds own 77.40% of the company's stock.

OKTA has been the topic of a number of analyst reports. Guggenheim boosted their price target on Okta from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Friday, August 28th. Morgan Stanley upped their price objective on Okta from $131.00 to $173.00 and gave the company an "equal weight" rating in a research report on Friday, May 29th. BidaskClub cut Okta from a "buy" rating to a "hold" rating in a research report on Friday, September 11th. Zacks Investment Research cut Okta from a "hold" rating to a "sell" rating in a research report on Thursday, July 30th. Finally, Needham & Company LLC initiated coverage on Okta in a research report on Friday, May 29th. They issued a "hold" rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company. The company has an average rating of "Buy" and a consensus price target of $203.75.

Okta Company Profile

Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.

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