Insider Selling: Okta, Inc. (NASDAQ:OKTA) CEO Sells $16,786,359.54 in Stock

Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon sold 179,687 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $93.42, for a total value of $16,786,359.54. Following the sale, the chief executive officer now owns 47,883 shares of the company’s stock, valued at $4,473,229.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, July 22nd, Todd Mckinnon sold 92,729 shares of Okta stock. The stock was sold at an average price of $94.92, for a total transaction of $8,801,836.68.

Okta Stock Performance

Shares of NASDAQ:OKTA opened at $93.11 on Friday. The firm has a fifty day simple moving average of $93.04 and a two-hundred day simple moving average of $93.91. Okta, Inc. has a 52 week low of $65.04 and a 52 week high of $114.50. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $15.66 billion, a P/E ratio of -55.75 and a beta of 1.03.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, May 29th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.27. Okta had a negative return on equity of 3.81% and a negative net margin of 11.69%. The company had revenue of $617.00 million during the quarter, compared to analyst estimates of $604.33 million. On average, analysts expect that Okta, Inc. will post -0.28 earnings per share for the current fiscal year.

Institutional Trading of Okta

Several hedge funds and other institutional investors have recently bought and sold shares of OKTA. City State Bank boosted its stake in Okta by 160.0% during the first quarter. City State Bank now owns 260 shares of the company’s stock worth $27,000 after buying an additional 160 shares during the period. GAMMA Investing LLC bought a new stake in shares of Okta in the 4th quarter worth about $29,000. EverSource Wealth Advisors LLC boosted its stake in shares of Okta by 71.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after purchasing an additional 142 shares during the period. Venturi Wealth Management LLC grew its holdings in Okta by 50.4% during the 1st quarter. Venturi Wealth Management LLC now owns 391 shares of the company’s stock valued at $41,000 after purchasing an additional 131 shares during the last quarter. Finally, Principal Securities Inc. bought a new position in Okta during the 4th quarter valued at about $48,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on OKTA shares. Guggenheim reiterated a “buy” rating and issued a $130.00 price target on shares of Okta in a research report on Tuesday, June 25th. Susquehanna cut their price target on Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. BMO Capital Markets decreased their price objective on Okta from $110.00 to $100.00 and set a “market perform” rating on the stock in a research note on Monday, June 3rd. UBS Group lowered their price objective on Okta from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Finally, Mizuho increased their target price on shares of Okta from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, May 17th. Nineteen equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Okta has a consensus rating of “Hold” and an average target price of $105.58.

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.