Larissa Schwartz Sells 2,797 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 2,797 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $77.63, for a total value of $217,131.11. Following the sale, the insider now owns 24,916 shares of the company’s stock, valued at approximately $1,934,229.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Larissa Schwartz also recently made the following trade(s):

• On Monday, September 16th, Larissa Schwartz sold 2,790 shares of Okta stock. The stock was sold at an average price of $74.01, for a total value of $206,487.90.
• On Tuesday, August 13th, Larissa Schwartz sold 2,795 shares of Okta stock. The shares were sold at an average price of $92.02, for a total value of $257,195.90.

Okta Stock Performance

OKTA traded down $2.93 during midday trading on Wednesday, reaching $75.72. The company had a trading volume of 4,047,659 shares, compared to its average volume of 1,938,962. The business has a 50-day moving average price of $81.03 and a two-hundred day moving average price of $89.60. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83. Okta, Inc. has a 12-month low of $65.04 and a 12-month high of $114.50. The stock has a market cap of $12.74 billion, a PE ratio of -45.34, a P/E/G ratio of 26.91 and a beta of 1.02.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.29. The business had revenue of $646.00 million during the quarter, compared to analyst estimates of $632.24 million. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. On average, sell-side analysts expect that Okta, Inc. will post 0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Okta

Several institutional investors have recently added to or reduced their stakes in the business. Future Financial Wealth Managment LLC bought a new stake in shares of Okta in the third quarter valued at approximately $26,000. City State Bank lifted its position in shares of Okta by 160.0% during the first quarter. City State Bank now owns 260 shares of the company’s stock worth $27,000 after acquiring an additional 160 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Okta by 71.4% in the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after acquiring an additional 142 shares during the period. First Command Advisory Services Inc. bought a new stake in shares of Okta during the 2nd quarter valued at $47,000. Finally, nVerses Capital LLC purchased a new stake in Okta during the 2nd quarter worth about $47,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OKTA has been the subject of several research analyst reports. The Goldman Sachs Group decreased their price target on shares of Okta from $130.00 to $113.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Westpark Capital reissued a “buy” rating and issued a $140.00 price objective on shares of Okta in a research note on Thursday, August 29th. Susquehanna lowered their target price on Okta from $110.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Canaccord Genuity Group reduced their price target on shares of Okta from $95.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday, August 29th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $125.00 price objective on shares of Okta in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $104.43.

Okta Company Profile

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.