Insider Selling: Okta, Inc. (NASDAQ:OKTA) Insider Sells $217,131.11 in Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 2,797 shares of Okta stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $77.63, for a total value of $217,131.11. Following the completion of the transaction, the insider now owns 24,916 shares of the company’s stock, valued at approximately $1,934,229.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Larissa Schwartz also recently made the following trade(s):

• On Monday, September 16th, Larissa Schwartz sold 2,790 shares of Okta stock. The shares were sold at an average price of $74.01, for a total value of $206,487.90.
• On Tuesday, August 13th, Larissa Schwartz sold 2,795 shares of Okta stock. The shares were sold at an average price of $92.02, for a total value of $257,195.90.

Okta Trading Up 0.5 %

NASDAQ:OKTA opened at $74.82 on Friday. The firm has a 50 day moving average of $80.44 and a 200 day moving average of $89.29. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18. Okta, Inc. has a 52 week low of $65.04 and a 52 week high of $114.50. The stock has a market capitalization of $12.71 billion, a price-to-earnings ratio of -89.07, a PEG ratio of 18.05 and a beta of 1.02.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.29. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. The firm had revenue of $646.00 million during the quarter, compared to analyst estimates of $632.24 million. As a group, sell-side analysts anticipate that Okta, Inc. will post 0.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Okta

Large investors have recently modified their holdings of the business. City State Bank boosted its stake in Okta by 160.0% in the 1st quarter. City State Bank now owns 260 shares of the company’s stock worth $27,000 after purchasing an additional 160 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of Okta by 71.4% in 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. Future Financial Wealth Managment LLC purchased a new stake in shares of Okta during the third quarter valued at $26,000. Blue Trust Inc. grew its holdings in shares of Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after buying an additional 191 shares during the last quarter. Finally, First Command Advisory Services Inc. acquired a new position in shares of Okta in the 2nd quarter valued at $47,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on OKTA shares. Piper Sandler cut their price objective on shares of Okta from $100.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday. Needham & Company LLC began coverage on shares of Okta in a report on Thursday. They set a “buy” rating and a $100.00 price target on the stock. Truist Financial decreased their price objective on shares of Okta from $95.00 to $80.00 and set a “hold” rating for the company in a research note on Thursday. Bank of America cut Okta from a “buy” rating to an “underperform” rating and cut their target price for the company from $135.00 to $75.00 in a research note on Thursday, August 29th. Finally, Royal Bank of Canada decreased their price target on Okta from $125.00 to $101.00 and set an “outperform” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, Okta currently has an average rating of “Hold” and a consensus target price of $99.38.

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.