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

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 2,100 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $95.12, for a total transaction of $199,752.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were 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 shares were sold at an average price of $87.19, for a total transaction of $1,645,972.82.

Okta Stock Performance

Shares of OKTA opened at $93.61 on Wednesday. Okta, Inc. has a 52-week low of $65.04 and a 52-week high of $114.50. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $93.42 and a 200 day moving average price of $93.10.

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

Institutional Trading of Okta

A number of hedge funds have recently bought and sold shares of the company. Stifel Financial Corp grew its holdings in Okta by 53.4% during the third quarter. Stifel Financial Corp now owns 25,672 shares of the company’s stock valued at $2,093,000 after purchasing an additional 8,942 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of Okta during the 3rd quarter worth about $216,000. Gotham Asset Management LLC acquired a new position in shares of Okta in the 3rd quarter valued at approximately $2,744,000. EULAV Asset Management lifted its stake in Okta by 18.7% in the 3rd quarter. EULAV Asset Management now owns 106,800 shares of the company’s stock valued at $8,705,000 after acquiring an additional 16,800 shares in the last quarter. Finally, Eminence Capital LP raised its stake in shares of Okta by 7.7% during the 3rd quarter. Eminence Capital LP now owns 1,599,703 shares of the company’s stock worth $130,392,000 after purchasing an additional 113,994 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on OKTA shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $125.00 price objective on shares of Okta in a research report on Monday, June 17th. Mizuho lifted their target price on shares of Okta from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, May 17th. JPMorgan Chase & Co. lifted their price target on shares of Okta from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Wedbush reissued an “outperform” rating and issued a $130.00 price target on shares of Okta in a research note on Wednesday, May 29th. Finally, Guggenheim reissued a “buy” rating and issued a $130.00 price target on shares of Okta in a research note on Tuesday, June 25th. Nineteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $105.58.

About Okta

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.