Okta, Inc. (NASDAQ:OKTA) Director Sells $58,268.49 in Stock

Okta, Inc. (NASDAQ:OKTA - Get Free Report) Director Jacques Frederic Kerrest sold 581 shares of Okta stock in a transaction on Friday, June 20th. The shares were sold at an average price of $100.29, for a total value of $58,268.49. Following the completion of the transaction, the director now owns 2,832 shares of the company's stock, valued at approximately $284,021.28. This trade represents a 17.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Okta Trading Down 0.1%

Shares of OKTA traded down $0.13 during trading hours on Tuesday, hitting $98.53. The stock had a trading volume of 3,057,436 shares, compared to its average volume of 3,050,658. 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 firm has a market cap of $17.25 billion, a P/E ratio of 103.85, a P/E/G ratio of 4.77 and a beta of 0.84. The company's fifty day simple moving average is $109.15 and its 200 day simple moving average is $99.70. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $127.57.

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

Institutional Trading of Okta

Several large investors have recently added to or reduced their stakes in OKTA. Wolff Wiese Magana LLC increased its holdings in Okta by 167.4% in the 1st quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock valued at $26,000 after purchasing an additional 154 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in Okta in the 1st quarter valued at $27,000. Harbour Investments Inc. increased its holdings in Okta by 152.4% in the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company's stock valued at $27,000 after purchasing an additional 157 shares in the last quarter. Rossby Financial LCC acquired a new stake in Okta in the 1st quarter valued at $31,000. Finally, TD Private Client Wealth LLC increased its holdings in Okta by 3,507.7% in the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock valued at $37,000 after purchasing an additional 456 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on OKTA. DA Davidson decreased their target price on Okta from $145.00 to $140.00 and set a "buy" rating for the company in a report on Wednesday, May 28th. The Goldman Sachs Group lifted their target price on Okta from $123.00 to $137.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Scotiabank lifted their target price on Okta from $109.00 to $115.00 and gave the company a "sector perform" rating in a report on Wednesday, May 28th. Evercore ISI lifted their target price on Okta from $122.00 to $130.00 and gave the company an "outperform" rating in a report on Wednesday, May 28th. Finally, BTIG Research reiterated a "buy" rating on shares of Okta in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, Okta presently has an average rating of "Moderate Buy" and a consensus target price of $121.59.

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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