Okta, Inc. (NASDAQ:OKTA) General Counsel Jonathan T. Runyan Sells 3,143 Shares

Okta, Inc. (NASDAQ:OKTAGet Rating) General Counsel Jonathan T. Runyan sold 3,143 shares of Okta stock in a transaction on Friday, September 16th. The shares were sold at an average price of $59.39, for a total value of $186,662.77. Following the sale, the general counsel now directly owns 446 shares of the company’s stock, valued at approximately $26,487.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Okta Price Performance

Shares of OKTA opened at $58.91 on Tuesday. The firm has a market cap of $9.36 billion, a PE ratio of -9.98 and a beta of 1.08. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.40. The firm has a fifty day simple moving average of $89.24 and a two-hundred day simple moving average of $107.85. Okta, Inc. has a 1-year low of $57.71 and a 1-year high of $272.27.

Okta (NASDAQ:OKTAGet Rating) last posted its quarterly earnings data on Wednesday, August 31st. The company reported ($1.19) EPS for the quarter, topping the consensus estimate of ($1.41) by $0.22. The firm had revenue of $435.38 million during the quarter, compared to analyst estimates of $430.66 million. Okta had a negative return on equity of 13.18% and a negative net margin of 57.21%. Okta’s revenue was up 43.6% on a year-over-year basis. During the same period in the prior year, the business posted ($1.35) EPS. On average, equities analysts anticipate that Okta, Inc. will post -5.15 EPS for the current year.

Analysts Set New Price Targets

OKTA has been the subject of several research analyst reports. DA Davidson dropped their price objective on Okta from $105.00 to $80.00 and set a “neutral” rating for the company in a research note on Thursday, September 1st. Oppenheimer cut their target price on Okta from $140.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, September 1st. Mizuho cut their target price on Okta from $150.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, September 1st. JMP Securities cut their target price on Okta from $165.00 to $145.00 in a research note on Thursday, September 1st. Finally, Stephens cut Okta from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $145.00 to $80.00 in a research note on Thursday, September 1st. Fourteen research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $116.73.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of OKTA. Vanguard Group Inc. boosted its holdings in shares of Okta by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 13,506,847 shares of the company’s stock valued at $2,038,994,000 after purchasing an additional 264,423 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Okta by 4.9% during the 4th quarter. Capital Research Global Investors now owns 2,819,551 shares of the company’s stock valued at $632,059,000 after purchasing an additional 132,406 shares during the last quarter. Deer Management Co. LLC purchased a new stake in shares of Okta during the 4th quarter valued at about $614,155,000. Sands Capital Management LLC raised its position in Okta by 0.9% in the 2nd quarter. Sands Capital Management LLC now owns 2,657,882 shares of the company’s stock worth $240,273,000 after purchasing an additional 24,150 shares during the period. Finally, First Trust Advisors LP increased its position in shares of Okta by 4.0% during the first quarter. First Trust Advisors LP now owns 2,320,801 shares of the company’s stock worth $350,348,000 after acquiring an additional 89,070 shares during the period. Institutional investors own 75.47% of the company’s stock.

About Okta

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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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