Todd Mckinnon Sells 200,512 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon sold 200,512 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $75.21, for a total value of $15,080,507.52. Following the completion of the transaction, the chief executive officer now directly owns 8,495 shares in the company, valued at $638,908.95. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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 transaction of $2,478,369.52.
• On Monday, July 22nd, Todd Mckinnon sold 92,729 shares of Okta stock. The shares were sold at an average price of $94.92, for a total transaction of $8,801,836.68.
• On Friday, July 19th, Todd Mckinnon sold 179,687 shares of Okta stock. The stock was sold at an average price of $93.42, for a total transaction of $16,786,359.54.

Okta Stock Performance

Shares of NASDAQ:OKTA opened at $74.86 on Thursday. The firm’s 50 day simple moving average is $86.00 and its 200-day simple moving average is $92.88. 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, Inc. has a one year low of $65.04 and a one year high of $114.50. The firm has a market cap of $12.72 billion, a PE ratio of -44.83, a price-to-earnings-growth ratio of 42.19 and a beta of 1.01.

Okta (NASDAQ:OKTA) last issued its 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. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. The business had revenue of $646.00 million during the quarter, compared to analyst estimates of $632.24 million. As a group, equities analysts predict that Okta, Inc. will post 0.08 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gilbert & Cook Inc. lifted its position in shares of Okta by 21.4% in the 4th quarter. Gilbert & Cook Inc. now owns 15,196 shares of the company’s stock worth $1,376,000 after purchasing an additional 2,676 shares during the period. US Bancorp DE boosted its position in Okta by 3.0% during the 4th quarter. US Bancorp DE now owns 99,446 shares of the company’s stock valued at $9,003,000 after acquiring an additional 2,902 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Okta by 6.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 148,644 shares of the company’s stock worth $13,457,000 after acquiring an additional 9,260 shares in the last quarter. Intech Investment Management LLC lifted its stake in shares of Okta by 21.4% during the 4th quarter. Intech Investment Management LLC now owns 11,074 shares of the company’s stock worth $1,003,000 after purchasing an additional 1,954 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its position in Okta by 3,886.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 25,514 shares of the company’s stock valued at $2,310,000 after purchasing an additional 24,874 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OKTA has been the topic of several research reports. Stifel Nicolaus reduced their target price on Okta from $122.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Scotiabank decreased their price objective on Okta from $104.00 to $92.00 and set a “sector perform” rating on the stock in a report on Thursday, August 29th. Guggenheim reiterated a “buy” rating and set a $130.00 target price on shares of Okta in a research report on Tuesday, June 25th. The Goldman Sachs Group reduced their price target on shares of Okta from $130.00 to $113.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Finally, Robert W. Baird lowered their price objective on shares of Okta from $108.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $104.62.

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.