Jacques Frederic Kerrest Sells 2,100 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 2,100 shares of Okta stock in a transaction on Friday, June 28th. The stock was sold at an average price of $95.12, for a total value of $199,752.00. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Jacques Frederic Kerrest also recently made the following trade(s):

• On Thursday, June 20th, Jacques Frederic Kerrest sold 1,552 shares of Okta stock. The stock was sold at an average price of $86.99, for a total transaction of $135,008.48.
• On Monday, June 10th, Jacques Frederic Kerrest sold 18,878 shares of Okta stock. The stock was sold at an average price of $87.19, for a total value of $1,645,972.82.

Okta Stock Performance

NASDAQ OKTA opened at $93.79 on Thursday. The business has a 50 day simple moving average of $93.42 and a 200 day simple moving average of $93.10. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.19. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, May 29th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.27. The company had revenue of $617.00 million during the quarter, compared to the consensus estimate of $604.33 million. Okta had a negative net margin of 11.69% and a negative return on equity of 3.81%. On average, sell-side analysts anticipate that Okta, Inc. will post -0.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on OKTA. UBS Group dropped their target price on shares of Okta from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, May 30th. JPMorgan Chase & Co. boosted their price objective on shares of Okta from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Evercore ISI upgraded Okta from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $102.00 to $122.00 in a research note on Thursday, May 30th. Mizuho boosted their price target on Okta from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, May 17th. Finally, Susquehanna reduced their price objective on Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. Nineteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $105.58.

Hedge Funds Weigh In On Okta

Several institutional investors have recently made changes to their positions in OKTA. Cerity Partners LLC grew its stake in shares of Okta by 6,192.3% in the 4th quarter. Cerity Partners LLC now owns 3,172,223 shares of the company’s stock valued at $287,181,000 after buying an additional 3,121,809 shares during the period. Sands Capital Management LLC increased its holdings in shares of Okta by 42.3% during the fourth quarter. Sands Capital Management LLC now owns 8,358,414 shares of the company’s stock valued at $756,687,000 after acquiring an additional 2,486,456 shares in the last quarter. Norges Bank acquired a new position in shares of Okta during the fourth quarter worth approximately $150,794,000. First Trust Advisors LP lifted its holdings in shares of Okta by 28.1% in the 4th quarter. First Trust Advisors LP now owns 4,085,430 shares of the company’s stock worth $369,854,000 after purchasing an additional 897,216 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in Okta by 1,465.8% in the 4th quarter. Point72 Asset Management L.P. now owns 682,900 shares of the company’s stock valued at $61,823,000 after purchasing an additional 732,900 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.

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.