Okta, Inc. (NASDAQ:OKTA) CEO Sells $16,754,652.46 in Stock

Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon sold 224,533 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $74.62, for a total transaction of $16,754,652.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, September 23rd, Todd Mckinnon sold 32,516 shares of Okta stock. The shares were sold at an average price of $76.22, for a total value of $2,478,369.52.
• 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 value of $15,080,507.52.

Okta Stock Down 0.0 %

OKTA stock opened at $72.15 on Friday. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50. The firm has a market cap of $12.26 billion, a PE ratio of -85.89, a PEG ratio of 17.14 and a beta of 1.02. The firm’s 50 day moving average price is $78.78 and its 200-day moving average price is $88.51. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83.

Okta (NASDAQ:OKTA) last posted its earnings results on Wednesday, August 28th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.29. The company had revenue of $646.00 million for the quarter, compared to the consensus estimate of $632.24 million. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. On average, equities research analysts anticipate that Okta, Inc. will post 0.19 EPS for the current year.

Institutional Investors Weigh In On Okta

A number of institutional investors have recently made changes to their positions in the stock. Banque Cantonale Vaudoise lifted its stake in Okta by 4.3% in the first quarter. Banque Cantonale Vaudoise now owns 2,933 shares of the company’s stock worth $307,000 after acquiring an additional 122 shares during the last quarter. Caprock Group LLC raised its holdings in shares of Okta by 4.7% in the 2nd quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock valued at $267,000 after purchasing an additional 129 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Okta by 11.0% during the 2nd quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock worth $124,000 after purchasing an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of 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 purchasing an additional 142 shares in the last quarter. Finally, CWM LLC increased its holdings in Okta by 5.3% in the second quarter. CWM LLC now owns 2,910 shares of the company’s stock valued at $272,000 after buying an additional 147 shares during the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

OKTA has been the topic of a number of analyst reports. Truist Financial dropped their price objective on shares of Okta from $95.00 to $80.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Mizuho cut their price objective on shares of Okta from $104.00 to $92.00 and set a “neutral” rating for the company in a report on Thursday, October 17th. Stifel Nicolaus lowered their target price on shares of Okta from $122.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Westpark Capital restated a “buy” rating and issued a $140.00 price target on shares of Okta in a research note on Thursday, August 29th. Finally, Citigroup lowered their price target on Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $98.96.

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.