Todd Mckinnon Sells 233,028 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon sold 233,028 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $82.31, for a total transaction of $19,180,534.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Todd Mckinnon also recently made the following trade(s):

• On Friday, October 18th, Todd Mckinnon sold 224,533 shares of Okta stock. The stock was sold at an average price of $74.62, for a total value of $16,754,652.46.

Okta Stock Down 1.7 %

Shares of Okta stock opened at $81.64 on Friday. The company has a market cap of $13.99 billion, a P/E ratio of -233.26, a PEG ratio of 8.61 and a beta of 1.00. Okta, Inc. has a one year low of $70.56 and a one year high of $114.50. The firm has a fifty day moving average of $78.29 and a two-hundred day moving average of $83.11. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34.

Institutional Investors Weigh In On Okta

A number of institutional investors have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. acquired a new stake in shares of Okta in the 3rd quarter valued at approximately $25,000. Future Financial Wealth Managment LLC acquired a new position in shares of Okta during the 3rd quarter worth $26,000. Blue Trust Inc. increased its holdings in shares of Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after purchasing an additional 191 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Okta in the third quarter valued at about $32,000. Finally, nVerses Capital LLC purchased a new stake in Okta during the second quarter worth about $47,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OKTA. Piper Sandler increased their price objective on shares of Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $101.00 price target on shares of Okta in a research note on Wednesday, December 4th. BTIG Research raised their price objective on shares of Okta from $98.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Westpark Capital reaffirmed a “buy” rating and set a $140.00 price objective on shares of Okta in a research report on Wednesday, December 4th. Finally, Sanford C. Bernstein decreased their target price on Okta from $129.00 to $124.00 and set an “outperform” rating for the company in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $104.45.

About Okta

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.