Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon Sells 31,592 Shares

Okta, Inc. (NASDAQ:OKTA - Get Free Report) CEO Todd Mckinnon sold 31,592 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $95.30, for a total transaction of $3,010,717.60. Following the completion of the transaction, the chief executive officer owned 20,682 shares in the company, valued at $1,970,994.60. This represents a 60.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Okta Trading Up 3.3%

Shares of OKTA traded up $3.21 during mid-day trading on Friday, reaching $101.10. The company's stock had a trading volume of 9,541,715 shares, compared to its average volume of 3,634,243. The stock has a market cap of $17.70 billion, a PE ratio of 160.48, a P/E/G ratio of 4.63 and a beta of 0.82. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.05. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $127.57. The company's fifty day moving average price is $102.90 and its two-hundred day moving average price is $101.67.

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, topping analysts' consensus estimates of $0.77 by $0.09. The firm had revenue of $688.00 million during the quarter, compared to analyst estimates of $680.14 million. Okta had a net margin of 4.85% and a return on equity of 2.79%. The business's quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 EPS. On average, analysts predict that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on OKTA. BTIG Research reaffirmed a "buy" rating on shares of Okta in a research report on Thursday, May 22nd. Mizuho dropped their price target on Okta from $135.00 to $130.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 28th. Arete assumed coverage on Okta in a research report on Monday, July 7th. They set a "sell" rating and a $83.00 price target on the stock. Stifel Nicolaus lifted their price target on Okta from $120.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Finally, Scotiabank lifted their price target on Okta from $109.00 to $115.00 and gave the company a "sector perform" rating in a research note on Wednesday, May 28th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, Okta presently has an average rating of "Hold" and an average price target of $118.61.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wolff Wiese Magana LLC boosted its stake in Okta by 167.4% during the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock worth $26,000 after acquiring an additional 154 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in Okta during the 1st quarter valued at $27,000. Harbour Investments Inc. raised its position in Okta by 152.4% in the first quarter. Harbour Investments Inc. now owns 260 shares of the company's stock worth $27,000 after acquiring an additional 157 shares during the period. Pinnacle Bancorp Inc. purchased a new stake in shares of Okta in the 2nd quarter worth $26,000. Finally, Rossby Financial LCC purchased a new stake in shares of Okta in the 1st quarter worth $31,000. Institutional investors own 86.64% of the company's stock.

Okta Company Profile

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.