Okta, Inc. (NASDAQ:OKTA) Insider Ledger Susan St. Sells 2,660 Shares

Posted by on Jun 17th, 2022

Okta, Inc. (NASDAQ:OKTA – Get Rating) insider Ledger Susan St. sold 2,660 shares of the company’s stock in a transaction on Thursday, June 16th. The stock was sold at an average price of $79.97, for a total transaction of $212,720.20. Following the completion of the transaction, the insider now owns 36,641 shares of the company’s stock, valued at $2,930,180.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of NASDAQ OKTA traded up $3.63 on Friday, reaching $82.67. 5,293,454 shares of the company’s stock traded hands, compared to its average volume of 2,919,363. Okta, Inc. has a 12 month low of $77.01 and a 12 month high of $276.30. The business’s 50 day simple moving average is $106.80 and its two-hundred day simple moving average is $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 (NASDAQ:OKTA – Get Rating) last announced its earnings results on Thursday, June 2nd. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.07. Okta had a negative net margin of 67.06% and a negative return on equity of 13.13%. The business had revenue of $414.94 million during the quarter, compared to the consensus estimate of $388.77 million. During the same quarter last year, the firm earned ($0.59) earnings per share. The business’s revenue for the quarter was up 65.3% on a year-over-year basis. Analysts expect that Okta, Inc. will post -5.57 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in OKTA. CI Investments Inc. increased its position in shares of Okta by 944.4% during the first quarter. CI Investments Inc. now owns 188 shares of the company’s stock valued at $28,000 after acquiring an additional 170 shares in the last quarter. Global Trust Asset Management LLC bought a new stake in shares of Okta during the fourth quarter valued at approximately $30,000. Addison Advisors LLC increased its position in shares of Okta by 121.4% during the first quarter. Addison Advisors LLC now owns 228 shares of the company’s stock valued at $34,000 after acquiring an additional 125 shares in the last quarter. GoalVest Advisory LLC bought a new stake in shares of Okta during the first quarter valued at approximately $37,000. Finally, KB Financial Partners LLC bought a new stake in shares of Okta during the fourth quarter valued at approximately $42,000. 76.18% of the stock is owned by institutional investors.

Several research analysts recently issued reports on the stock. Needham & Company LLC upped their target price on shares of Okta from $108.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, June 3rd. KeyCorp cut their target price on shares of Okta from $225.00 to $190.00 and set an “overweight” rating for the company in a research report on Tuesday, April 5th. Oppenheimer cut their price target on shares of Okta from $210.00 to $170.00 and set an “outperform” rating for the company in a research report on Friday, June 3rd. Stifel Nicolaus cut their price target on shares of Okta from $195.00 to $115.00 in a research report on Friday, June 3rd. Finally, Piper Sandler cut their price target on shares of Okta from $270.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, June 3rd. Seven investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Okta has a consensus rating of “Buy” and a consensus price target of $180.70.

Okta Company Profile (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.

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