Okta, Inc. (NASDAQ:OKTA) Insider Sells $108,842.50 in Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 1,105 shares of Okta stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $98.50, for a total transaction of $108,842.50. Following the transaction, the insider now directly owns 25,884 shares of the company’s stock, valued at $2,549,574. The trade was a 4.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Larissa Schwartz also recently made the following trade(s):

• On Friday, June 20th, Larissa Schwartz sold 2,244 shares of Okta stock. The stock was sold at an average price of $100.00, for a total transaction of $224,400.00.

Okta Stock Performance

OKTA stock opened at $99.42 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.47 and a quick ratio of 1.47. The business has a 50-day moving average price of $109.19 and a 200 day moving average price of $99.49. The company has a market capitalization of $17.41 billion, a P/E ratio of 157.81, a PEG ratio of 4.81 and a beta of 0.84. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $127.57.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.09. The firm had revenue of $688.00 million during the quarter, compared to the consensus estimate of $680.14 million. Okta had a return on equity of 2.79% and a net margin of 4.85%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.65 earnings per share. As a group, equities research analysts forecast that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on OKTA. Royal Bank Of Canada dropped their price objective on shares of Okta from $143.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, May 28th. Needham & Company LLC lifted their price objective on shares of Okta from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, May 28th. Jefferies Financial Group reaffirmed a “hold” rating and set a $135.00 price objective (up from $110.00) on shares of Okta in a research note on Friday, May 23rd. Barclays dropped their price objective on shares of Okta from $135.00 to $120.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 28th. Finally, Truist Financial lifted their price objective on shares of Okta from $92.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $121.59.

Hedge Funds Weigh In On Okta

A number of large investors have recently added to or reduced their stakes in OKTA. Bank of Jackson Hole Trust bought a new position in Okta in the fourth quarter worth about $25,000. Wolff Wiese Magana LLC raised its holdings in Okta by 167.4% in the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company’s stock worth $26,000 after purchasing an additional 154 shares in the last quarter. Wayfinding Financial LLC bought a new position in Okta in the first quarter worth about $27,000. Harbour Investments Inc. raised its holdings in Okta by 152.4% in the first quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock worth $27,000 after purchasing an additional 157 shares in the last quarter. Finally, Rossby Financial LCC bought a new position in Okta in the first quarter worth about $31,000. 86.64% of the stock is currently owned by institutional investors.

Okta Company Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.