Jacques Frederic Kerrest Sells 300 Shares of Okta Inc (NASDAQ:OKTA) Stock

Okta Inc (NASDAQ:OKTA) insider Jacques Frederic Kerrest sold 300 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $200.00, for a total transaction of $60,000.00. Following the transaction, the insider now owns 10,630 shares of the company’s stock, valued at approximately $2,126,000. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Jacques Frederic Kerrest also recently made the following trade(s):

  • On Monday, August 31st, Jacques Frederic Kerrest sold 200 shares of Okta stock. The shares were sold at an average price of $210.10, for a total transaction of $42,020.00.
  • On Monday, July 20th, Jacques Frederic Kerrest sold 2,755 shares of Okta stock. The stock was sold at an average price of $212.25, for a total transaction of $584,748.75.

Shares of OKTA stock traded down $0.26 during trading hours on Wednesday, reaching $193.16. The company had a trading volume of 1,273,270 shares, compared to its average volume of 1,870,677. The company has a market cap of $24.74 billion, a price-to-earnings ratio of -101.66 and a beta of 0.96. The company has a debt-to-equity ratio of 2.74, a current ratio of 5.07 and a quick ratio of 5.07. Okta Inc has a 12 month low of $88.66 and a 12 month high of $231.29. The business has a fifty day simple moving average of $207.84 and a 200-day simple moving average of $175.83.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Thursday, August 27th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.09. Okta had a negative return on equity of 35.07% and a negative net margin of 32.93%. The business had revenue of $200.45 million during the quarter, compared to analyst estimates of $186.37 million. During the same period in the prior year, the firm posted ($0.05) EPS. Okta’s quarterly revenue was up 42.7% compared to the same quarter last year. On average, equities research analysts expect that Okta Inc will post -1.48 earnings per share for the current year.

A number of brokerages have commented on OKTA. JPMorgan Chase & Co. upped their price target on shares of Okta from $192.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, August 28th. Canaccord Genuity restated a “hold” rating and set a $190.00 target price on shares of Okta in a research report on Friday, June 12th. Citigroup lifted their target price on Okta from $236.00 to $266.00 in a report on Friday, August 28th. Guggenheim boosted their price target on Okta from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Finally, Robert W. Baird reaffirmed a “hold” rating on shares of Okta in a research report on Friday, August 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $203.75.

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Okta by 7.0% in the 2nd quarter. Vanguard Group Inc. now owns 11,072,369 shares of the company’s stock valued at $2,217,020,000 after buying an additional 721,025 shares during the last quarter. Morgan Stanley lifted its holdings in Okta by 3.7% during the first quarter. Morgan Stanley now owns 11,011,526 shares of the company’s stock worth $1,346,269,000 after acquiring an additional 395,715 shares during the period. State Street Corp boosted its position in Okta by 2.1% in the first quarter. State Street Corp now owns 2,249,767 shares of the company’s stock worth $275,057,000 after purchasing an additional 46,637 shares during the last quarter. Sands Capital Management LLC grew its stake in Okta by 0.5% in the 1st quarter. Sands Capital Management LLC now owns 1,833,182 shares of the company’s stock valued at $224,125,000 after purchasing an additional 8,256 shares during the period. Finally, Hound Partners LLC purchased a new stake in shares of Okta during the 2nd quarter valued at $1,844,000. Institutional investors and hedge funds own 77.40% of the company’s stock.

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 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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