Okta Inc (NASDAQ:OKTA) Director Patrick W. Grady sold 100,000 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $130.74, for a total value of $13,074,000.00. Following the sale, the director now directly owns 383,669 shares in the company, valued at approximately $50,160,885.06. The sale was disclosed in a filing with the SEC, which is accessible through this link.
NASDAQ OKTA traded down $6.27 on Wednesday, hitting $126.87. The company’s stock had a trading volume of 1,585,404 shares, compared to its average volume of 2,063,640. Okta Inc has a 52-week low of $41.88 and a 52-week high of $141.85. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.12 and a current ratio of 1.12. The firm’s 50-day simple moving average is $132.04. The firm has a market capitalization of $14.90 billion, a price-to-earnings ratio of -123.28 and a beta of 1.01.
Okta (NASDAQ:OKTA) last released its quarterly earnings data on Thursday, May 30th. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.01. Okta had a negative return on equity of 53.36% and a negative net margin of 34.37%. The business had revenue of $125.20 million during the quarter, compared to analysts’ expectations of $116.83 million. During the same quarter last year, the business posted ($0.09) EPS. The business’s revenue was up 49.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Okta Inc will post -1.35 earnings per share for the current fiscal year.
A number of brokerages have weighed in on OKTA. ValuEngine lowered Okta from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Oppenheimer raised their price target on Okta from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. SunTrust Banks raised their price target on Okta to $110.00 and gave the stock a “hold” rating in a research report on Friday, May 31st. Monness Crespi & Hardt lowered Okta from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 28th. Finally, Zacks Investment Research upgraded Okta from a “sell” rating to a “hold” rating in a research report on Wednesday, June 5th. Ten investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $104.05.
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 to manage and secure identities, 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 their applications in the cloud or on-premise from various devices with a single entry of their user credentials; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.
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