Okta, Inc. (NASDAQ:OKTA - Get Free Report) Director Jacques Frederic Kerrest sold 581 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $100.29, for a total transaction 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 represents a 17.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Okta Trading Up 0.0%
Shares of Okta stock traded up $0.04 during mid-day trading on Friday, hitting $98.17. The stock had a trading volume of 2,087,735 shares, compared to its average volume of 3,688,761. The firm has a 50-day moving average of $109.09 and a two-hundred day moving average of $99.78. The firm has a market cap of $17.19 billion, a P/E ratio of 155.76, a price-to-earnings-growth ratio of 4.75 and a beta of 0.84. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.05. 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 released its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.09. The firm had revenue of $688.00 million for the quarter, compared to analysts' expectations of $680.14 million. Okta had a return on equity of 2.79% and a net margin of 4.85%. The firm's quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.65 earnings per share. Sell-side analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the company. Susquehanna increased their price target on Okta from $95.00 to $105.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. upped their target price on Okta from $120.00 to $140.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Loop Capital started coverage on shares of Okta in a research note on Monday, May 5th. They issued a "buy" rating and a $140.00 price target on the stock. Guggenheim cut their price target on shares of Okta from $140.00 to $138.00 and set a "buy" rating for the company in a report on Wednesday, May 28th. Finally, Cantor Fitzgerald began coverage on shares of Okta in a research report on Monday, March 31st. They set an "overweight" rating and a $130.00 price objective for the company. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $121.59.
Read Our Latest Stock Analysis on OKTA
Institutional Trading of Okta
Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Okta by 3.4% during the first quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company's stock worth $1,872,167,000 after buying an additional 582,956 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Okta by 325.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company's stock worth $389,308,000 after acquiring an additional 2,830,582 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Okta by 35.5% during the 4th quarter. Marshall Wace LLP now owns 3,583,937 shares of the company's stock worth $282,414,000 after purchasing an additional 938,509 shares during the period. Norges Bank acquired a new stake in Okta in the 4th quarter valued at approximately $234,992,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Okta by 76.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,748,847 shares of the company's stock valued at $289,234,000 after purchasing an additional 1,189,222 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.
About Okta
(
Get Free Report)
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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