Insider Selling: Okta, Inc. (NASDAQ:OKTA) CRO Sells $764,655.50 in Stock

Okta, Inc. (NASDAQ:OKTA) CRO Jonathan James Addison sold 9,850 shares of Okta stock in a transaction on Monday, October 14th. The stock was sold at an average price of $77.63, for a total transaction of $764,655.50. Following the completion of the sale, the executive now owns 14,601 shares of the company’s stock, valued at approximately $1,133,475.63. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Okta Stock Performance

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

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

Hedge Funds Weigh In On Okta

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Okta by 0.8% during the first quarter. Vanguard Group Inc. now owns 15,848,525 shares of the company’s stock worth $1,658,073,000 after acquiring an additional 128,906 shares during the period. Marshall Wace LLP raised its holdings in shares of Okta by 117.4% in the 2nd quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock worth $212,841,000 after purchasing an additional 1,227,890 shares in the last quarter. Eminence Capital LP lifted its stake in Okta by 18.1% during the second quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock valued at $186,225,000 after purchasing an additional 305,381 shares during the last quarter. Primecap Management Co. CA grew its position in Okta by 0.8% in the second quarter. Primecap Management Co. CA now owns 1,356,216 shares of the company’s stock worth $126,955,000 after buying an additional 10,800 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Okta by 20.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,029,753 shares of the company’s stock valued at $96,388,000 after buying an additional 178,011 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OKTA has been the topic of a number of recent analyst reports. Scotiabank cut their target price on shares of Okta from $104.00 to $92.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 29th. JPMorgan Chase & Co. cut their price objective on Okta from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Royal Bank of Canada decreased their target price on Okta from $125.00 to $101.00 and set an “outperform” rating for the company in a research report on Thursday. BMO Capital Markets upped their price target on Okta from $100.00 to $103.00 and gave the company a “market perform” rating in a research report on Thursday, August 29th. Finally, DA Davidson decreased their price objective on shares of Okta from $85.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday. One equities 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average 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.