Larissa Schwartz Sells 2,791 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 2,791 shares of Okta stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $71.50, for a total transaction of $199,556.50. Following the completion of the sale, the insider now owns 22,125 shares of the company’s stock, valued at $1,581,937.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, October 14th, Larissa Schwartz sold 2,797 shares of Okta stock. The stock was sold at an average price of $77.63, for a total transaction of $217,131.11.
• 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 Price Performance

OKTA stock opened at $77.18 on Friday. The stock has a market cap of $13.11 billion, a PE ratio of -91.88, a P/E/G ratio of 16.96 and a beta of 1.02. Okta, Inc. has a 12 month low of $65.98 and a 12 month high of $114.50. The company has a 50-day moving average price of $74.39 and a 200 day moving average price of $86.90. 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 released 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. 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 for the quarter, compared to analysts’ expectations of $632.24 million. Equities research analysts anticipate that Okta, Inc. will post 0.19 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on OKTA. Royal Bank of Canada cut 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, October 17th. BMO Capital Markets upped their target price on shares of Okta from $100.00 to $103.00 and gave the company a “market perform” rating in a report on Thursday, August 29th. Truist Financial dropped their price target 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. Citigroup reduced their price objective on Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, August 29th. Finally, Wells Fargo & Company lowered their target price on Okta from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $99.39.

Institutional Trading of Okta

Several institutional investors and hedge funds have recently made changes to their positions in the business. Future Financial Wealth Managment LLC purchased a new position in Okta in the 3rd quarter worth about $26,000. Blue Trust Inc. increased its position in shares of Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after acquiring an additional 191 shares during the period. EverSource Wealth Advisors LLC raised 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 valued at $36,000 after acquiring an additional 142 shares in the last quarter. First Command Advisory Services Inc. purchased a new stake in shares of Okta in the second quarter valued at approximately $47,000. Finally, nVerses Capital LLC bought a new position in Okta in the second quarter worth approximately $47,000. 86.64% of the stock is currently owned by 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.