Charles Race Sells 50,000 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) insider Charles Race sold 50,000 shares of the company’s stock in a transaction on Friday, January 8th. The stock was sold at an average price of $251.89, for a total value of $12,594,500.00. Following the transaction, the insider now owns 81,559 shares of the company’s stock, valued at $20,543,896.51. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Charles Race also recently made the following trade(s):

  • On Wednesday, December 16th, Charles Race sold 1,789 shares of Okta stock. The shares were sold at an average price of $258.91, for a total value of $463,189.99.
  • On Thursday, December 10th, Charles Race sold 50,000 shares of Okta stock. The stock was sold at an average price of $238.21, for a total transaction of $11,910,500.00.
  • On Tuesday, November 10th, Charles Race sold 50,000 shares of Okta stock. The stock was sold at an average price of $211.21, for a total transaction of $10,560,500.00.

Shares of NASDAQ:OKTA opened at $256.60 on Thursday. The company has a debt-to-equity ratio of 2.51, a quick ratio of 4.80 and a current ratio of 4.80. The stock has a market capitalization of $33.22 billion, a price-to-earnings ratio of -132.95 and a beta of 1.00. Okta, Inc. has a 1-year low of $88.66 and a 1-year high of $287.35. The company has a 50 day moving average price of $253.95 and a 200 day moving average price of $224.63.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Tuesday, December 1st. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. The company had revenue of $217.40 million during the quarter, compared to the consensus estimate of $203.15 million. Okta had a negative return on equity of 31.29% and a negative net margin of 31.38%. The company’s quarterly revenue was up 42.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.07) EPS. On average, sell-side analysts expect that Okta, Inc. will post -1.31 EPS for the current fiscal year.

Several research firms have commented on OKTA. Royal Bank of Canada restated a “buy” rating and issued a $255.00 target price on shares of Okta in a research report on Sunday, November 29th. Oppenheimer raised their target price on Okta from $250.00 to $295.00 in a research report on Thursday, December 3rd. DA Davidson boosted their price target on Okta from $250.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, December 4th. Morgan Stanley raised their price target on Okta from $250.00 to $275.00 and gave the company an “equal weight” rating in a report on Friday, January 8th. Finally, Mizuho upped their price objective on shares of Okta from $255.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, December 3rd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $243.80.

Several large investors have recently added to or reduced their stakes in OKTA. Wetherby Asset Management Inc. raised its holdings in Okta by 3.3% during the 3rd quarter. Wetherby Asset Management Inc. now owns 1,361 shares of the company’s stock worth $291,000 after buying an additional 44 shares during the period. Altshuler Shaham Ltd boosted its position in Okta by 29.6% during the 3rd quarter. Altshuler Shaham Ltd now owns 258 shares of the company’s stock worth $55,000 after acquiring an additional 59 shares during the period. Corbett Road Capital Management LLC grew its stake in Okta by 3.6% during the 3rd quarter. Corbett Road Capital Management LLC now owns 2,194 shares of the company’s stock valued at $469,000 after acquiring an additional 77 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Okta by 4.5% in the 3rd quarter. Perigon Wealth Management LLC now owns 1,900 shares of the company’s stock valued at $406,000 after purchasing an additional 82 shares during the period. Finally, Independent Advisor Alliance increased its holdings in shares of Okta by 1.8% in the 3rd quarter. Independent Advisor Alliance now owns 4,785 shares of the company’s stock valued at $1,023,000 after purchasing an additional 83 shares during the period. Institutional investors and hedge funds own 64.00% of the company’s stock.

About Okta

Okta, Inc provides identity management platforms 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; and 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.

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