Insider Selling: Okta Inc (OKTA) CFO Sells 15,000 Shares of Stock

Okta Inc (NASDAQ:OKTA) CFO William E. Losch sold 15,000 shares of the stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $68.67, for a total value of $1,030,050.00. Following the sale, the chief financial officer now owns 15,000 shares of the company’s stock, valued at $1,030,050. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Shares of OKTA stock traded up $0.17 on Wednesday, reaching $69.59. 1,480,300 shares of the company were exchanged, compared to its average volume of 2,022,744. The stock has a market capitalization of $7.48 billion, a PE ratio of -51.17 and a beta of -0.53. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.90 and a quick ratio of 2.90. Okta Inc has a one year low of $24.71 and a one year high of $75.49.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Thursday, September 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.36) by $0.21. The company had revenue of $94.59 million for the quarter, compared to analysts’ expectations of $85.00 million. Okta had a negative net margin of 38.13% and a negative return on equity of 56.91%. The business’s revenue was up 57.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.16) EPS. analysts anticipate that Okta Inc will post -1.12 earnings per share for the current fiscal year.

A number of analysts have weighed in on OKTA shares. Zacks Investment Research upgraded Okta from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Wednesday, July 18th. Needham & Company LLC upgraded Okta from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Wednesday, June 27th. They noted that the move was a valuation call. BidaskClub downgraded Okta from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. Monness Crespi & Hardt increased their price target on Okta from $62.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, September 7th. Finally, Oppenheimer increased their price target on Okta from $60.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, September 7th. Seventeen research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average price target of $68.62.

Several hedge funds have recently added to or reduced their stakes in the company. HL Financial Services LLC boosted its position in shares of Okta by 4.7% during the 2nd quarter. HL Financial Services LLC now owns 20,447 shares of the company’s stock worth $1,030,000 after purchasing an additional 918 shares in the last quarter. Bank Hapoalim BM boosted its position in shares of Okta by 8.7% during the 2nd quarter. Bank Hapoalim BM now owns 12,120 shares of the company’s stock worth $610,000 after purchasing an additional 965 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Okta by 129.9% during the 2nd quarter. Parallel Advisors LLC now owns 2,393 shares of the company’s stock worth $120,000 after purchasing an additional 1,352 shares in the last quarter. HM Payson & Co. boosted its position in shares of Okta by 30.5% during the 2nd quarter. HM Payson & Co. now owns 6,616 shares of the company’s stock worth $333,000 after purchasing an additional 1,545 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Okta by 276.1% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,633 shares of the company’s stock worth $105,000 after purchasing an additional 1,933 shares in the last quarter. 58.81% of the stock is currently owned by institutional investors.

About Okta

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 Web and mobile applications, and data of organization; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; and Mobility Management, which simplifies and automates mobile device administration and provisioning across phones, tablets, and laptops.

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Insider Buying and Selling by Quarter for Okta (NASDAQ:OKTA)

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