Insider Selling: Okta, Inc. (NASDAQ:OKTA) General Counsel Sells 1,641 Shares of Stock

Okta, Inc. (NASDAQ:OKTA) General Counsel Jonathan T. Runyan sold 1,641 shares of the business’s stock in a transaction that occurred on Thursday, September 16th. The stock was sold at an average price of $252.65, for a total value of $414,598.65. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

OKTA traded up $2.37 during trading on Friday, reaching $258.15. 2,537,467 shares of the stock traded hands, compared to its average volume of 1,721,223. The company has a quick ratio of 3.15, a current ratio of 3.15 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $39.93 billion, a PE ratio of -67.93 and a beta of 0.97. The stock’s 50-day moving average is $249.08 and its 200 day moving average is $241.43. Okta, Inc. has a 12 month low of $193.03 and a 12 month high of $294.00.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Tuesday, August 31st. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.24. Okta had a negative net margin of 52.47% and a negative return on equity of 18.64%. The firm had revenue of $316.00 million for the quarter, compared to analyst estimates of $293.16 million. During the same quarter in the prior year, the business earned $0.07 earnings per share. The business’s quarterly revenue was up 57.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Okta, Inc. will post -4.8 EPS for the current year.

A number of large investors have recently bought and sold shares of OKTA. Vanguard Group Inc. boosted its holdings in Okta by 13.7% in the 2nd quarter. Vanguard Group Inc. now owns 12,586,798 shares of the company’s stock worth $3,079,738,000 after buying an additional 1,514,962 shares during the period. Price T Rowe Associates Inc. MD raised its position in Okta by 37.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 11,239,019 shares of the company’s stock worth $2,749,963,000 after purchasing an additional 3,076,901 shares during the period. Capital International Investors raised its position in Okta by 5.5% in the 2nd quarter. Capital International Investors now owns 2,420,646 shares of the company’s stock worth $592,284,000 after purchasing an additional 126,597 shares during the period. American Century Companies Inc. grew its holdings in Okta by 122.9% in the 2nd quarter. American Century Companies Inc. now owns 1,797,227 shares of the company’s stock worth $439,745,000 after acquiring an additional 990,869 shares during the last quarter. Finally, Scge Management L.P. grew its holdings in Okta by 14.4% in the 1st quarter. Scge Management L.P. now owns 1,787,000 shares of the company’s stock worth $393,908,000 after acquiring an additional 224,981 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

A number of research firms have recently weighed in on OKTA. Wolfe Research began coverage on shares of Okta in a research report on Friday, August 6th. They issued an “outperform” rating and a $295.00 price target for the company. The Goldman Sachs Group boosted their price objective on shares of Okta from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, September 2nd. BTIG Research boosted their price objective on shares of Okta from $280.00 to $302.00 and gave the company a “buy” rating in a research report on Thursday, September 2nd. Truist Securities boosted their price objective on shares of Okta from $260.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, September 2nd. Finally, Daiwa Capital Markets initiated coverage on shares of Okta in a research report on Thursday, June 24th. They set a “buy” rating and a $282.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Okta currently has a consensus rating of “Buy” and a consensus target price of $289.67.

About Okta

Okta, Inc engages in the provision of identity management platform for the enterprise. It operates through United States and International geographical segments. The firm’s products include single sign-on, multi factor authentication, API access management, authentication, user management, and lifecycle management.

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