Insider Selling: Okta, Inc. (OKTA) CFO Sells 13,800 Shares of Stock
Okta, Inc. (NASDAQ:OKTA) CFO William E. Losch sold 13,800 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $30.00, for a total transaction of $414,000.00. Following the completion of the sale, the chief financial officer now directly owns 6,900 shares in the company, valued at $207,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Okta, Inc. (OKTA) traded up $1.29 on Friday, reaching $31.28. 365,611 shares of the company traded hands, compared to its average volume of 558,190. Okta, Inc. has a 1 year low of $21.52 and a 1 year high of $33.64.
Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Thursday, September 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.03). The company had revenue of $61.00 million for the quarter, compared to analysts’ expectations of $55.90 million. The business’s revenue was up 63.1% compared to the same quarter last year. equities analysts predict that Okta, Inc. will post -0.96 EPS for the current fiscal year.
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Several analysts recently issued reports on OKTA shares. Zacks Investment Research cut shares of Okta from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Canaccord Genuity reaffirmed a “hold” rating and issued a $27.00 price target on shares of Okta in a report on Wednesday, August 30th. KeyCorp reaffirmed a “buy” rating and issued a $35.00 price target on shares of Okta in a report on Friday, September 8th. Finally, William Blair started coverage on shares of Okta in a report on Wednesday, October 4th. They issued an “outperform” rating on the stock. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $32.71.
Large investors have recently modified their holdings of the business. Allen Operations LLC acquired a new stake in shares of Okta during the second quarter worth $1,656,000. Hillman Co. acquired a new stake in shares of Okta during the second quarter worth $6,975,000. JPMorgan Chase & Co. acquired a new stake in shares of Okta during the second quarter worth $21,855,000. Capital World Investors acquired a new stake in shares of Okta during the second quarter worth $11,400,000. Finally, Crawford Lake Capital Management LLC acquired a new stake in shares of Okta during the second quarter worth $1,230,000. 13.63% of the stock is currently owned by institutional investors.
Okta, Inc is a United States-based independent provider of identity for the enterprise. The Company’s Okta Identity Cloud connects and protects employees. It also connects enterprises to their partners, suppliers and customers. The Company offers products, such as Okta information technology (IT) Products and Okta for Developers.
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