William E. Losch Sells 15,000 Shares of Okta Inc (OKTA) Stock
Okta Inc (NASDAQ:OKTA) CFO William E. Losch sold 15,000 shares of the firm’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $68.67, for a total transaction of $1,030,050.00. Following the completion of the transaction, the chief financial officer now directly owns 15,000 shares in the company, valued at approximately $1,030,050. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Shares of Okta stock traded up $0.17 during mid-day trading on Wednesday, hitting $69.59. 1,480,300 shares of the stock were exchanged, compared to its average volume of 2,022,744. Okta Inc has a 12 month low of $24.71 and a 12 month high of $75.49. The company has a quick ratio of 2.90, a current ratio of 2.90 and a debt-to-equity ratio of 1.08. The stock has a market cap of $7.48 billion, a P/E ratio of -51.17 and a beta of -0.53.
Okta (NASDAQ:OKTA) last posted its earnings results on Thursday, September 6th. The company reported ($0.15) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.36) by $0.21. Okta had a negative net margin of 38.13% and a negative return on equity of 56.91%. The firm had revenue of $94.59 million for the quarter, compared to analysts’ expectations of $85.00 million. During the same quarter last year, the firm earned ($0.16) EPS. The company’s quarterly revenue was up 57.0% compared to the same quarter last year. equities analysts anticipate that Okta Inc will post -1.12 EPS for the current year.
OKTA has been the topic of several recent research reports. Monness Crespi & Hardt initiated coverage on shares of Okta in a research report on Tuesday, May 29th. They issued a “buy” rating and a $59.00 price target on the stock. Needham & Company LLC raised their price target on shares of Okta from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, May 29th. BidaskClub cut shares of Okta from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 7th. JPMorgan Chase & Co. raised their price target on shares of Okta to $63.00 and gave the company an “overweight” rating in a research report on Thursday, June 7th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $60.00 price target (up previously from $55.00) on shares of Okta in a research report on Thursday, June 7th. Seventeen analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average price target of $68.62.
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 Web and mobile applications, and data of organization; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; and Mobility Management, which simplifies and automates mobile device administration and provisioning across phones, tablets, and laptops.
Further Reading: Short Selling Stocks and Day Traders
Receive News & Ratings for Okta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Okta and related companies with MarketBeat.com's FREE daily email newsletter.