Larissa Schwartz Sells 452 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA – Get Rating) insider Larissa Schwartz sold 452 shares of the stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $82.48, for a total value of $37,280.96. Following the completion of the sale, the insider now owns 20,149 shares in the company, valued at approximately $1,661,889.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Okta Stock Performance

Shares of NASDAQ:OKTA traded down $0.53 during trading on Friday, hitting $83.83. The stock had a trading volume of 3,018,648 shares, compared to its average volume of 2,817,271. Okta, Inc. has a 12-month low of $44.12 and a 12-month high of $176.18. The stock has a market capitalization of $19.03 billion, a price-to-earnings ratio of -16.21 and a beta of 1.12. The company has a quick ratio of 2.30, a current ratio of 2.20 and a debt-to-equity ratio of 0.40. The stock has a 50-day simple moving average of $74.71 and a two-hundred day simple moving average of $64.62.

Okta (NASDAQ:OKTA – Get Rating) last announced its quarterly earnings data on Wednesday, March 1st. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $0.11. Okta had a negative return on equity of 12.53% and a negative net margin of 43.87%. The firm had revenue of $510.00 million during the quarter, compared to analysts’ expectations of $488.99 million. On average, equities research analysts expect that Okta, Inc. will post -3.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

OKTA has been the topic of a number of recent analyst reports. KeyCorp increased their target price on Okta from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, February 24th. JMP Securities increased their target price on Okta from $105.00 to $110.00 and gave the stock a “market outperform” rating in a research note on Thursday, March 2nd. Sanford C. Bernstein increased their target price on Okta from $80.00 to $92.00 and gave the stock a “market perform” rating in a research note on Thursday, March 2nd. Guggenheim increased their price target on Okta to $70.00 in a research report on Friday, December 2nd. Finally, Stifel Nicolaus increased their price target on Okta from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, March 2nd. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Okta has a consensus rating of “Hold” and an average price target of $85.32.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Synovus Financial Corp raised its stake in shares of Okta by 1.5% in the second quarter. Synovus Financial Corp now owns 6,978 shares of the company’s stock worth $631,000 after purchasing an additional 103 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its position in Okta by 0.7% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 18,281 shares of the company’s stock valued at $1,249,000 after acquiring an additional 136 shares in the last quarter. Captrust Financial Advisors raised its position in Okta by 2.4% during the second quarter. Captrust Financial Advisors now owns 5,953 shares of the company’s stock valued at $538,000 after acquiring an additional 137 shares in the last quarter. Sunbelt Securities Inc. raised its position in Okta by 4.0% during the fourth quarter. Sunbelt Securities Inc. now owns 3,928 shares of the company’s stock valued at $268,000 after acquiring an additional 151 shares in the last quarter. Finally, Toroso Investments LLC raised its position in Okta by 10.1% during the first quarter. Toroso Investments LLC now owns 1,717 shares of the company’s stock valued at $259,000 after acquiring an additional 157 shares in the last quarter. 73.02% of the stock is currently owned by hedge funds and other institutional investors.

About Okta

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Okta, Inc engages in the provision of an identity management platform for enterprises. It operates through the 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.