Okta, Inc. (NASDAQ:OKTA) CAO Sells $66,455.07 in Stock

Okta, Inc. (NASDAQ:OKTAGet Rating) CAO Christopher K. Kramer sold 831 shares of the stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $79.97, for a total value of $66,455.07. Following the completion of the sale, the chief accounting officer now owns 14,316 shares of the company’s stock, valued at $1,144,850.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

OKTA stock traded up $3.63 during midday trading on Friday, hitting $82.67. 5,293,454 shares of the company’s stock were exchanged, compared to its average volume of 2,919,363. The business has a 50-day simple moving average of $106.80 and a two-hundred day simple moving average of $160.42. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.45 and a quick ratio of 2.45. Okta, Inc. has a 1-year low of $77.01 and a 1-year high of $276.30.

Okta (NASDAQ:OKTAGet Rating) last posted its earnings results on Thursday, June 2nd. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.07. The company had revenue of $414.94 million during the quarter, compared to analysts’ expectations of $388.77 million. Okta had a negative return on equity of 13.13% and a negative net margin of 67.06%. The firm’s quarterly revenue was up 65.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.59) earnings per share. As a group, research analysts anticipate that Okta, Inc. will post -5.57 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of OKTA. The Manufacturers Life Insurance Company grew its stake in shares of Okta by 1.8% in the third quarter. The Manufacturers Life Insurance Company now owns 3,324 shares of the company’s stock valued at $789,000 after buying an additional 60 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Okta by 1.1% in the third quarter. Dimensional Fund Advisors LP now owns 140,385 shares of the company’s stock valued at $33,317,000 after buying an additional 1,595 shares in the last quarter. Penserra Capital Management LLC grew its stake in shares of Okta by 10.0% in the third quarter. Penserra Capital Management LLC now owns 439 shares of the company’s stock valued at $104,000 after buying an additional 40 shares in the last quarter. Tudor Investment Corp Et Al grew its stake in shares of Okta by 7.5% in the third quarter. Tudor Investment Corp Et Al now owns 3,699 shares of the company’s stock valued at $878,000 after buying an additional 258 shares in the last quarter. Finally, MML Investors Services LLC grew its stake in shares of Okta by 5.9% in the third quarter. MML Investors Services LLC now owns 28,530 shares of the company’s stock valued at $6,771,000 after buying an additional 1,590 shares in the last quarter. 76.18% of the stock is owned by institutional investors.

OKTA has been the topic of a number of research reports. BMO Capital Markets increased their price objective on Okta from $108.00 to $125.00 in a report on Friday, June 3rd. Summit Insights reaffirmed a “buy” rating on shares of Okta in a report on Thursday, June 2nd. Wolfe Research dropped their target price on Okta from $135.00 to $128.00 and set an “outperform” rating on the stock in a report on Friday, June 3rd. Morgan Stanley dropped their target price on Okta to $150.00 and set a “na” rating on the stock in a report on Wednesday, May 18th. Finally, Needham & Company LLC raised their target price on Okta from $108.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, June 3rd. Seven research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, Okta currently has a consensus rating of “Buy” and an average price target of $180.70.

About Okta (Get Rating)

Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products and services, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access applications in the cloud or on-premise from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, Web applications, and data; Lifecycle Management that enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; Access Gateway that enables organizations to extend the Okta Identity Cloud from the cloud to their existing on-premise applications; and Advanced Server Access to secure cloud infrastructure.

Recommended Stories

Insider Buying and Selling by Quarter for Okta (NASDAQ:OKTA)

Want More Great Investing Ideas?

Receive News & Ratings for Okta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Okta and related companies with MarketBeat.com's FREE daily email newsletter.