Todd Mckinnon Sells 25,455 Shares of Okta, Inc. (OKTA) Stock
Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon sold 25,455 shares of the stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $27.31, for a total value of $695,176.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Todd Mckinnon also recently made the following trade(s):
- On Wednesday, October 11th, Todd Mckinnon sold 40,158 shares of Okta stock. The stock was sold at an average price of $28.61, for a total value of $1,148,920.38.
- On Thursday, October 12th, Todd Mckinnon sold 49,545 shares of Okta stock. The stock was sold at an average price of $28.59, for a total value of $1,416,491.55.
Shares of Okta, Inc. (OKTA) traded up 0.71% during mid-day trading on Tuesday, hitting $26.77. The company had a trading volume of 1,979,250 shares. The firm’s 50 day moving average is $28.12 and its 200-day moving average is $25.26. Okta, Inc. has a 12-month low of $21.52 and a 12-month high of $33.64. The firm’s market cap is $2.56 billion.
Okta (NASDAQ:OKTA) last released its quarterly earnings data on Thursday, September 7th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.03). The business had revenue of $61.00 million during the quarter, compared to the consensus estimate of $55.90 million. The business’s quarterly revenue was up 63.1% compared to the same quarter last year. On average, equities analysts expect that Okta, Inc. will post ($0.96) EPS for the current year.
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A number of research analysts have commented on the company. Zacks Investment Research raised Okta from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Thursday, September 14th. Oppenheimer Holdings, Inc. assumed coverage on Okta in a report on Tuesday, October 10th. They set an “outperform” rating and a $32.00 target price on the stock. KeyCorp reaffirmed a “buy” rating and set a $35.00 target price on shares of Okta in a report on Friday, September 8th. Canaccord Genuity increased their target price on Okta from $27.00 to $28.00 and gave the stock a “hold” rating in a report on Friday, September 8th. Finally, William Blair began coverage on Okta in a report on Wednesday, October 4th. They set an “outperform” rating on the stock. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $32.17.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP acquired a new stake in Okta during the second quarter valued at approximately $101,000. CI Investments Inc. acquired a new stake in Okta during the second quarter valued at approximately $171,000. Paulson & CO. Inc. acquired a new stake in Okta during the second quarter valued at approximately $171,000. American Century Companies Inc. acquired a new stake in Okta during the second quarter valued at approximately $201,000. Finally, Pacad Investment Ltd. acquired a new stake in Okta during the second quarter valued at approximately $207,000. 13.01% 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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