Okta, Inc. (NASDAQ:OKTA) Insider Sells $217,131.11 in Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 2,797 shares of Okta stock in a transaction on Monday, October 14th. The stock was sold at an average price of $77.63, for a total transaction of $217,131.11. Following the sale, the insider now directly owns 24,916 shares of the company’s stock, valued at approximately $1,934,229.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Monday, September 16th, Larissa Schwartz sold 2,790 shares of Okta stock. The shares were sold at an average price of $74.01, for a total value of $206,487.90.
• On Tuesday, August 13th, Larissa Schwartz sold 2,795 shares of Okta stock. The shares were sold at an average price of $92.02, for a total value of $257,195.90.

Okta Trading Down 3.7 %

Shares of OKTA stock opened at $75.72 on Thursday. The business’s fifty day moving average price is $81.03 and its 200 day moving average price is $89.60. The firm has a market capitalization of $12.74 billion, a PE ratio of -45.34, a P/E/G ratio of 26.91 and a beta of 1.02. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83. Okta, Inc. has a 1-year low of $65.04 and a 1-year high of $114.50.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.29. The business had revenue of $646.00 million for the quarter, compared to analysts’ expectations of $632.24 million. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. As a group, sell-side analysts forecast that Okta, Inc. will post 0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On Okta

A number of hedge funds and other institutional investors have recently modified their holdings of OKTA. Fisher Asset Management LLC purchased a new position in Okta in the 4th quarter valued at approximately $296,000. Vanguard Group Inc. grew its holdings in Okta by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 15,719,619 shares of the company’s stock valued at $1,423,097,000 after purchasing an additional 438,496 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in Okta by 19.5% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 3,405 shares of the company’s stock valued at $308,000 after purchasing an additional 556 shares during the last quarter. Symmetry Partners LLC purchased a new position in shares of Okta in the first quarter valued at $221,000. Finally, Los Angeles Capital Management LLC raised its stake in shares of Okta by 282.5% during the 1st quarter. Los Angeles Capital Management LLC now owns 248,658 shares of the company’s stock worth $26,015,000 after buying an additional 183,643 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Robert W. Baird lowered their price target on Okta from $108.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. Bank of America cut shares of Okta from a “buy” rating to an “underperform” rating and lowered their target price for the company from $135.00 to $75.00 in a report on Thursday, August 29th. Jefferies Financial Group cut their price target on shares of Okta from $100.00 to $85.00 and set a “hold” rating on the stock in a research note on Tuesday, September 24th. Westpark Capital restated a “buy” rating and issued a $140.00 price objective on shares of Okta in a research note on Thursday, August 29th. Finally, Susquehanna cut their target price on Okta from $110.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $104.43.

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.