Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon Sells 233,028 Shares

Okta, Inc. (NASDAQ:OKTA - Get Free Report) CEO Todd Mckinnon sold 233,028 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $82.31, for a total value of $19,180,534.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Todd Mckinnon also recently made the following trade(s):

• On Friday, October 18th, Todd Mckinnon sold 224,533 shares of Okta stock. The shares were sold at an average price of $74.62, for a total transaction of $16,754,652.46.

Okta Price Performance

Okta stock traded down $0.17 during trading hours on Thursday, hitting $83.02. 2,509,558 shares of the stock were exchanged, compared to its average volume of 2,184,131. The stock has a market capitalization of $14.23 billion, a P/E ratio of -237.20, a P/E/G ratio of 8.61 and a beta of 1.00. The business's 50-day moving average is $78.16 and its two-hundred day moving average is $83.20. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $114.50.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on OKTA. Citigroup upped their price target on Okta from $90.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 4th. Sanford C. Bernstein lowered their target price on shares of Okta from $129.00 to $124.00 and set an "outperform" rating on the stock in a research note on Tuesday, December 17th. Wells Fargo & Company upped their price target on shares of Okta from $80.00 to $95.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. Guggenheim reiterated a "buy" rating and issued a $130.00 price objective on shares of Okta in a research note on Wednesday, December 4th. Finally, Robert W. Baird increased their target price on Okta from $105.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Okta currently has a consensus rating of "Hold" and an average target price of $104.45.

Institutional Investors Weigh In On Okta

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Caprock Group LLC raised its position in Okta by 4.7% in the 2nd quarter. Caprock Group LLC now owns 2,856 shares of the company's stock valued at $267,000 after buying an additional 129 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of Okta by 11.0% in the second quarter. National Bank of Canada FI now owns 1,315 shares of the company's stock valued at $124,000 after purchasing an additional 130 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Okta by 4.6% in the third quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company's stock valued at $306,000 after purchasing an additional 182 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its position in shares of Okta by 12.4% in the third quarter. Creative Financial Designs Inc. ADV now owns 1,704 shares of the company's stock worth $127,000 after purchasing an additional 188 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company's stock worth $28,000 after purchasing an additional 191 shares during the last quarter. 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.