Insider Selling: Okta, Inc. (NASDAQ:OKTA) CRO Sells 6,027 Shares of Stock

Okta, Inc. (NASDAQ:OKTA - Get Free Report) CRO Jonathan James Addison sold 6,027 shares of the business's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $92.01, for a total transaction of $554,544.27. Following the transaction, the executive directly owned 19,067 shares in the company, valued at $1,754,354.67. The trade was a 24.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 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.

Okta Trading Up 3.6%

Shares of Okta stock traded up $3.33 on Friday, hitting $95.43. The stock had a trading volume of 4,358,661 shares, compared to its average volume of 3,142,466. The firm has a market capitalization of $16.71 billion, a P/E ratio of 151.48, a PEG ratio of 4.45 and a beta of 0.82. The stock has a 50 day moving average of $105.12 and a 200 day moving average of $101.24. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.47 and a current ratio of 1.47. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.77 by $0.09. The company had revenue of $688.00 million during the quarter, compared to the consensus estimate of $680.14 million. Okta had a net margin of 4.85% and a return on equity of 2.79%. The company's quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 EPS. Sell-side analysts expect that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Okta

A number of large investors have recently modified their holdings of OKTA. Norges Bank bought a new position in shares of Okta in the 4th quarter worth $234,992,000. Massachusetts Financial Services Co. MA increased its position in shares of Okta by 325.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company's stock valued at $389,308,000 after purchasing an additional 2,830,582 shares during the last quarter. Alkeon Capital Management LLC purchased a new stake in Okta in the 1st quarter worth about $199,918,000. Ameriprise Financial Inc. increased its holdings in Okta by 2,135.7% in the 4th quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock worth $150,845,000 after acquiring an additional 1,828,630 shares during the last quarter. Finally, Ninety One UK Ltd purchased a new stake in Okta in the 1st quarter worth about $189,915,000. 86.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on OKTA. Stephens reiterated an "equal weight" rating and set a $127.00 target price on shares of Okta in a research report on Tuesday, May 27th. BTIG Research reaffirmed a "buy" rating on shares of Okta in a research note on Thursday, May 22nd. Royal Bank Of Canada reduced their price objective on shares of Okta from $143.00 to $135.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 28th. Stifel Nicolaus lifted their price objective on shares of Okta from $120.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Finally, Westpark Capital reaffirmed a "buy" rating and issued a $140.00 price target on shares of Okta in a research note on Wednesday, May 28th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, Okta has an average rating of "Hold" and a consensus target price 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.