Insider Selling: Okta Inc (NASDAQ:OKTA) CFO Sells 30,000 Shares of Stock

Okta Inc (NASDAQ:OKTA) CFO William E. Losch sold 30,000 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $131.78, for a total transaction of $3,953,400.00. Following the sale, the chief financial officer now directly owns 42,562 shares in the company, valued at $5,608,820.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

NASDAQ OKTA traded down $0.46 during trading hours on Wednesday, hitting $128.57. The company’s stock had a trading volume of 1,168,445 shares, compared to its average volume of 1,239,673. The stock has a fifty day moving average of $121.05 and a 200 day moving average of $120.63. Okta Inc has a twelve month low of $70.44 and a twelve month high of $141.85. The firm has a market capitalization of $15.64 billion, a P/E ratio of -124.83 and a beta of 0.99. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 2.47.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Thursday, December 5th. The company reported ($0.07) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.05. Okta had a negative net margin of 35.43% and a negative return on equity of 53.08%. The business had revenue of $153.04 million for the quarter, compared to analyst estimates of $143.88 million. During the same period in the prior year, the business posted ($0.04) earnings per share. Okta’s revenue was up 45.0% compared to the same quarter last year. On average, analysts predict that Okta Inc will post -1.42 earnings per share for the current year.

Several analysts have recently commented on OKTA shares. Robert W. Baird reissued a “hold” rating and set a $135.00 price target on shares of Okta in a research note on Friday, December 6th. Piper Jaffray Companies increased their price target on shares of Okta from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Zacks Investment Research raised shares of Okta from a “sell” rating to a “hold” rating in a research note on Thursday, December 12th. DA Davidson raised shares of Okta from a “neutral” rating to a “buy” rating and increased their price target for the company from $131.00 to $135.00 in a research note on Monday, November 18th. Finally, Canaccord Genuity increased their price target on shares of Okta from $120.00 to $125.00 and gave the company a “hold” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $134.67.

A number of hedge funds and other institutional investors have recently made changes to their positions in OKTA. Prudential Financial Inc. lifted its holdings in Okta by 14.7% in the second quarter. Prudential Financial Inc. now owns 3,970 shares of the company’s stock valued at $490,000 after buying an additional 510 shares during the period. Russell Investments Group Ltd. raised its holdings in Okta by 26.7% in the second quarter. Russell Investments Group Ltd. now owns 1,527 shares of the company’s stock worth $188,000 after purchasing an additional 322 shares during the period. Pictet Asset Management Ltd. acquired a new stake in Okta in the second quarter worth $4,434,000. Toronto Dominion Bank raised its holdings in Okta by 180.1% in the second quarter. Toronto Dominion Bank now owns 15,452 shares of the company’s stock worth $1,908,000 after purchasing an additional 9,936 shares during the period. Finally, MML Investors Services LLC raised its holdings in Okta by 10.0% in the second quarter. MML Investors Services LLC now owns 4,598 shares of the company’s stock worth $568,000 after purchasing an additional 419 shares during the period. Institutional investors and hedge funds own 70.34% of the company’s stock.

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 cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.

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

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