Okta, Inc. (NASDAQ:OKTA) Insider Sells $224,400.00 in Stock

Okta, Inc. (NASDAQ:OKTA - Get Free Report) insider Larissa Schwartz sold 2,244 shares of the stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $100.00, for a total transaction of $224,400.00. Following the sale, the insider now directly owns 23,640 shares in the company, valued at $2,364,000. This represents a 8.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Larissa Schwartz also recently made the following trade(s):

• On Tuesday, June 17th, Larissa Schwartz sold 1,105 shares of Okta stock. The stock was sold at an average price of $98.50, for a total transaction of $108,842.50.

Okta Stock Performance

Shares of OKTA traded up $0.42 during mid-day trading on Friday, reaching $99.42. 5,150,031 shares of the company's stock were exchanged, compared to its average volume of 3,044,335. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.47 and a quick ratio of 1.47. The stock has a market capitalization of $17.41 billion, a PE ratio of 157.81, a price-to-earnings-growth ratio of 4.79 and a beta of 0.84. The business's fifty day simple moving average is $109.24 and its 200-day simple moving average is $99.27. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $127.57.

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

Hedge Funds Weigh In On Okta

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GK Wealth Management LLC grew its position in Okta by 13.5% in the 1st quarter. GK Wealth Management LLC now owns 3,837 shares of the company's stock valued at $404,000 after buying an additional 457 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Okta by 27.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 13,314 shares of the company's stock valued at $1,401,000 after buying an additional 2,848 shares during the last quarter. Focus Partners Wealth grew its position in Okta by 3.5% in the 1st quarter. Focus Partners Wealth now owns 114,480 shares of the company's stock valued at $12,046,000 after buying an additional 3,857 shares during the last quarter. Bayforest Capital Ltd purchased a new position in Okta in the 1st quarter valued at $374,000. Finally, SCS Capital Management LLC purchased a new position in Okta in the 1st quarter valued at $1,266,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OKTA. JPMorgan Chase & Co. increased their price target on shares of Okta from $120.00 to $140.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Morgan Stanley reduced their target price on shares of Okta from $125.00 to $123.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Stephens reaffirmed an "equal weight" rating and issued a $127.00 target price on shares of Okta in a report on Tuesday, May 27th. BMO Capital Markets set a $132.00 target price on shares of Okta and gave the company a "market perform" rating in a report on Wednesday, May 28th. Finally, DA Davidson reduced their target price on shares of Okta from $145.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. One equities research analyst has 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 MarketBeat, Okta presently has an average rating of "Moderate Buy" and a consensus price target of $121.59.

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.

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