Okta, Inc. (NASDAQ:OKTA) Insider Ledger Susan St. Sells 30,760 Shares of Stock

Okta, Inc. (NASDAQ:OKTAGet Rating) insider Ledger Susan St. sold 30,760 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 $1,826,836.40. Following the sale, the insider now directly owns 39,106 shares of the company’s stock, valued at approximately $2,322,505.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Okta Stock Down 0.2 %

OKTA opened at $58.91 on Tuesday. Okta, Inc. has a fifty-two week low of $57.71 and a fifty-two week high of $272.27. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.38 and a quick ratio of 2.38. The firm’s fifty day moving average price is $89.24 and its two-hundred day moving average price is $107.85. The company has a market capitalization of $9.36 billion, a P/E ratio of -9.98 and a beta of 1.08.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on OKTA shares. Sanford C. Bernstein initiated coverage on Okta in a research report on Tuesday, July 19th. They issued a “market perform” rating and a $94.00 price target for the company. DA Davidson lowered their price target on Okta from $105.00 to $80.00 and set a “neutral” rating on the stock in a report on Thursday, September 1st. Deutsche Bank Aktiengesellschaft lowered their price target on Okta from $130.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, September 6th. JMP Securities lowered their price target on Okta from $165.00 to $145.00 in a report on Thursday, September 1st. Finally, Royal Bank of Canada lowered their price target on Okta from $260.00 to $145.00 in a report on Tuesday, May 31st. Fourteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $116.73.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Okta by 2.0% during the first quarter. Vanguard Group Inc. now owns 13,506,847 shares of the company’s stock valued at $2,038,994,000 after acquiring an additional 264,423 shares during the period. Capital Research Global Investors lifted its holdings in shares of Okta by 4.9% during the fourth quarter. Capital Research Global Investors now owns 2,819,551 shares of the company’s stock valued at $632,059,000 after acquiring an additional 132,406 shares during the period. Deer Management Co. LLC bought a new position in shares of Okta during the fourth quarter valued at $614,155,000. Sands Capital Management LLC lifted its holdings in shares of Okta by 0.9% during the second quarter. Sands Capital Management LLC now owns 2,657,882 shares of the company’s stock valued at $240,273,000 after acquiring an additional 24,150 shares during the period. Finally, First Trust Advisors LP lifted its holdings 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 valued at $350,348,000 after acquiring an additional 89,070 shares during the period. 75.47% of the stock is owned by institutional investors.

Okta Company Profile

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

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