Okta, Inc. (NASDAQ:OKTA) Insider Sells $217,131.11 in Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 2,797 shares of Okta stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $77.63, for a total transaction of $217,131.11. Following the completion of the transaction, the insider now directly owns 24,916 shares of the company’s stock, valued at approximately $1,934,229.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, September 16th, Larissa Schwartz sold 2,790 shares of Okta stock. The stock was sold at an average price of $74.01, for a total value of $206,487.90.
• On Tuesday, August 13th, Larissa Schwartz sold 2,795 shares of Okta stock. The shares were sold at an average price of $92.02, for a total value of $257,195.90.

Okta Trading Down 3.7 %

Okta stock traded down $2.93 during trading hours on Wednesday, hitting $75.72. The stock had a trading volume of 4,047,659 shares, compared to its average volume of 1,938,962. The stock has a market cap of $12.74 billion, a price-to-earnings ratio of -45.34, a P/E/G ratio of 26.91 and a beta of 1.02. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18. The business’s 50 day simple moving average is $81.03 and its 200-day simple moving average is $89.60. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50.

Okta (NASDAQ:OKTA) last posted its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.29. The firm had revenue of $646.00 million for the quarter, compared to analyst estimates of $632.24 million. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. On average, equities analysts predict that Okta, Inc. will post 0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Okta by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 15,719,619 shares of the company’s stock valued at $1,423,097,000 after buying an additional 438,496 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in shares of Okta by 19.5% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 3,405 shares of the company’s stock worth $308,000 after acquiring an additional 556 shares during the period. SG Americas Securities LLC lifted its stake in shares of Okta by 122.3% in the third quarter. SG Americas Securities LLC now owns 17,021 shares of the company’s stock worth $1,265,000 after acquiring an additional 9,364 shares during the period. Los Angeles Capital Management LLC boosted its holdings in Okta by 282.5% in the first quarter. Los Angeles Capital Management LLC now owns 248,658 shares of the company’s stock valued at $26,015,000 after acquiring an additional 183,643 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Okta by 28.6% during the 1st quarter. Principal Financial Group Inc. now owns 13,144 shares of the company’s stock valued at $1,375,000 after purchasing an additional 2,925 shares during the period. 86.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on OKTA shares. The Goldman Sachs Group decreased their target price on Okta from $130.00 to $113.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Guggenheim reiterated a “buy” rating and issued a $130.00 price target on shares of Okta in a research note on Tuesday, June 25th. Wells Fargo & Company lowered their price target on shares of Okta from $100.00 to $90.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. JPMorgan Chase & Co. reduced their price objective on Okta from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Finally, Canaccord Genuity Group lowered their target price on Okta from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $104.43.

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.