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

Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon sold 32,516 shares of the business’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 accessible through this link.

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

• On Friday, September 20th, Todd Mckinnon sold 200,512 shares of Okta stock. The stock was sold at an average price of $75.21, for a total value 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 transaction of $16,786,359.54.

Okta Trading Down 1.3 %

Shares of NASDAQ:OKTA opened at $74.86 on Thursday. The company has a market cap of $12.72 billion, a PE ratio of -44.83, a P/E/G ratio of 42.19 and a beta of 1.01. The company’s 50 day moving average is $86.00 and its two-hundred day moving average is $92.88. 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 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share 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 analysts’ expectations of $632.24 million. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. Equities analysts predict that Okta, Inc. will post 0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

OKTA has been the topic of several recent analyst reports. Canaccord Genuity Group decreased their target price on shares of Okta from $95.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday, August 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $125.00 price objective on shares of Okta in a research report on Thursday, August 29th. BMO Capital Markets raised their target price on Okta from $100.00 to $103.00 and gave the stock a “market perform” rating in a research note on Thursday, August 29th. Citigroup decreased their price target on Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $130.00 price objective on shares of Okta in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Okta currently has an average rating of “Hold” and a consensus price target of $104.62.

Hedge Funds Weigh In On Okta

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Okta by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 15,848,525 shares of the company’s stock valued at $1,658,073,000 after buying an additional 128,906 shares in the last quarter. Sands Capital Management LLC boosted its position in shares of Okta by 42.3% in the 4th quarter. Sands Capital Management LLC now owns 8,358,414 shares of the company’s stock valued at $756,687,000 after purchasing an additional 2,486,456 shares during the period. First Trust Advisors LP grew its stake in Okta by 28.1% during the 4th quarter. First Trust Advisors LP now owns 4,085,430 shares of the company’s stock worth $369,854,000 after buying an additional 897,216 shares during the last quarter. Marshall Wace LLP increased its position in Okta by 117.4% during the second quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock worth $212,841,000 after buying an additional 1,227,890 shares during the period. Finally, Eminence Capital LP lifted its stake in Okta by 18.1% in the second quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock valued at $186,225,000 after buying an additional 305,381 shares during the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

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.