Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon Sells 32,516 Shares

Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon sold 32,516 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $76.22, for a total value of $2,478,369.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Todd Mckinnon also recently made the following trade(s):

• On Friday, September 20th, Todd Mckinnon sold 200,512 shares of Okta stock. The shares were sold at an average price of $75.21, for a total transaction of $15,080,507.52.
• On Monday, July 22nd, Todd Mckinnon sold 92,729 shares of Okta stock. The stock was sold at an average price of $94.92, for a total value of $8,801,836.68.
• On Friday, July 19th, Todd Mckinnon sold 179,687 shares of Okta stock. The shares were sold at an average price of $93.42, for a total value of $16,786,359.54.

Okta Stock Down 0.5 %

Shares of OKTA stock traded down $0.35 during mid-day trading on Tuesday, reaching $75.83. 1,272,828 shares of the company were exchanged, compared to its average volume of 1,945,049. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83. The company has a market capitalization of $12.76 billion, a P/E ratio of -45.57, a P/E/G ratio of 41.00 and a beta of 1.01. Okta, Inc. has a fifty-two week low of $65.04 and a fifty-two week high of $114.50. The business’s 50 day simple moving average is $86.92 and its 200 day simple moving average is $93.25.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) 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 return on equity of 1.10% and a negative net margin of 5.55%. Research analysts predict that Okta, Inc. will post 0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Okta from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Susquehanna dropped their target price on Okta from $110.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Piper Sandler reduced their price target on Okta from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. BMO Capital Markets upped their price objective on shares of Okta from $100.00 to $103.00 and gave the stock a “market perform” rating in a research report on Thursday, August 29th. Finally, DA Davidson cut their price objective on shares of Okta from $100.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $104.62.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OKTA. City State Bank grew its position in Okta by 160.0% during the first quarter. City State Bank now owns 260 shares of the company’s stock worth $27,000 after buying an additional 160 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after buying an additional 142 shares during the last quarter. First Command Advisory Services Inc. acquired a new stake in Okta during the 2nd quarter valued at $47,000. nVerses Capital LLC bought a new position in shares of Okta in the second quarter valued at about $47,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Okta during the first quarter valued at approximately $63,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

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.