Todd Mckinnon Sells 233,028 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon sold 233,028 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $82.31, for a total value of $19,180,534.68. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Friday, October 18th, Todd Mckinnon sold 224,533 shares of Okta stock. The shares were sold at an average price of $74.62, for a total value of $16,754,652.46.

Okta Stock Performance

NASDAQ:OKTA opened at $81.64 on Friday. The firm has a market capitalization of $13.99 billion, a price-to-earnings ratio of -233.26, a PEG ratio of 8.61 and a beta of 1.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $114.50. The company’s 50-day moving average is $78.29 and its two-hundred day moving average is $83.15.

Wall Street Analysts Forecast Growth

OKTA has been the subject of a number of research analyst reports. BMO Capital Markets lifted their target price on Okta from $103.00 to $105.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Wells Fargo & Company boosted their target price on shares of Okta from $80.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Piper Sandler upped their price objective on shares of Okta from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Canaccord Genuity Group upped their price objective on shares of Okta from $82.00 to $94.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Finally, Truist Financial reiterated a “hold” rating and issued a $92.00 price target (up previously from $80.00) on shares of Okta in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Okta presently has a consensus rating of “Hold” and an average price target of $104.45.

Hedge Funds Weigh In On Okta

Several large investors have recently made changes to their positions in the stock. Paloma Partners Management Co purchased a new position in Okta in the third quarter valued at $969,000. SG Americas Securities LLC grew its position in Okta by 122.3% during the 3rd quarter. SG Americas Securities LLC now owns 17,021 shares of the company’s stock worth $1,265,000 after purchasing an additional 9,364 shares during the last quarter. Truist Financial Corp grew its holdings in shares of Okta by 62.5% during the second quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock worth $48,870,000 after buying an additional 200,770 shares during the last quarter. Stifel Financial Corp increased its stake in Okta by 56.1% in the 3rd quarter. Stifel Financial Corp now owns 37,258 shares of the company’s stock valued at $2,770,000 after buying an additional 13,387 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Okta by 105.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock valued at $26,627,000 after buying an additional 184,107 shares in the last quarter. 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.