Okta Inc (NASDAQ:OKTA) CEO Sells $144,136.33 in Stock

Okta Inc (NASDAQ:OKTA) CEO Todd Mckinnon sold 1,781 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $80.93, for a total transaction of $144,136.33. Following the sale, the chief executive officer now owns 12,474 shares in the company, valued at approximately $1,009,520.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

  • On Monday, March 18th, Todd Mckinnon sold 5,223 shares of Okta stock. The shares were sold at an average price of $82.31, for a total transaction of $429,905.13.

OKTA stock traded up $0.45 during trading hours on Monday, hitting $95.69. The company’s stock had a trading volume of 1,575,273 shares, compared to its average volume of 2,067,658. The company has a market capitalization of $10.76 billion, a price-to-earnings ratio of -92.90 and a beta of 1.16. Okta Inc has a 12 month low of $40.19 and a 12 month high of $97.24.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Thursday, March 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.03. The business had revenue of $115.47 million during the quarter, compared to the consensus estimate of $107.94 million. Okta had a negative net margin of 31.43% and a negative return on equity of 44.56%. As a group, sell-side analysts expect that Okta Inc will post -1.38 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. FMR LLC boosted its holdings in Okta by 27.5% in the 4th quarter. FMR LLC now owns 9,265,547 shares of the company’s stock valued at $591,143,000 after purchasing an additional 1,996,090 shares during the period. Vanguard Group Inc. boosted its holdings in Okta by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 6,891,351 shares of the company’s stock valued at $484,875,000 after purchasing an additional 120,687 shares during the period. Vanguard Group Inc boosted its holdings in Okta by 1.8% in the 3rd quarter. Vanguard Group Inc now owns 6,891,351 shares of the company’s stock valued at $484,875,000 after purchasing an additional 120,687 shares during the period. BlackRock Inc. boosted its holdings in Okta by 16.4% in the 4th quarter. BlackRock Inc. now owns 4,402,670 shares of the company’s stock valued at $280,891,000 after purchasing an additional 618,835 shares during the period. Finally, Morgan Stanley boosted its holdings in Okta by 49.3% in the 3rd quarter. Morgan Stanley now owns 2,256,056 shares of the company’s stock valued at $158,736,000 after purchasing an additional 744,738 shares during the period. 65.77% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have recently issued reports on OKTA shares. DA Davidson initiated coverage on shares of Okta in a report on Tuesday, December 18th. They set a “neutral” rating and a $62.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $105.00 price objective (up previously from $96.00) on shares of Okta in a research note on Thursday, April 4th. Mizuho initiated coverage on shares of Okta in a research note on Tuesday, March 26th. They issued a “neutral” rating and a $85.00 price objective on the stock. Robert W. Baird reiterated a “hold” rating on shares of Okta in a research note on Friday, March 8th. Finally, Monness Crespi & Hardt upped their price objective on shares of Okta from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Seven investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $82.11.

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Okta Company Profile

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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