Insider Selling: Okta, Inc. (NASDAQ:OKTA) CEO Sells $2,478,369.52 in Stock

Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon sold 32,516 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $76.22, for a total transaction of $2,478,369.52. The sale was disclosed in a filing with the SEC, which can be accessed 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 transaction of $15,080,507.52.
• 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 value of $16,786,359.54.

Okta Price Performance

Shares of OKTA stock opened at $74.29 on Friday. 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 12 month low of $65.04 and a 12 month high of $114.50. The firm has a market cap of $12.50 billion, a price-to-earnings ratio of -44.49, a PEG ratio of 42.19 and a beta of 1.01. The stock has a 50-day moving average price of $85.61 and a 200 day moving average price of $92.76.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $632.24 million. Research analysts expect that Okta, Inc. will post 0.08 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OKTA. Sands Capital Management LLC increased its holdings in Okta by 42.3% in the fourth 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 last quarter. Marshall Wace LLP increased its stake 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 valued at $212,841,000 after acquiring an additional 1,227,890 shares during the last quarter. First Trust Advisors LP raised its position in shares of Okta by 28.1% in the 4th quarter. First Trust Advisors LP now owns 4,085,430 shares of the company’s stock valued at $369,854,000 after acquiring an additional 897,216 shares during the period. Point72 Asset Management L.P. boosted its stake in Okta by 1,465.8% during the 4th quarter. Point72 Asset Management L.P. now owns 682,900 shares of the company’s stock worth $61,823,000 after acquiring an additional 732,900 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Okta by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 15,719,619 shares of the company’s stock valued at $1,423,097,000 after purchasing an additional 438,496 shares during the period. 86.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Westpark Capital reissued a “buy” rating and set a $140.00 price objective on shares of Okta in a report on Thursday, August 29th. Canaccord Genuity Group lowered their price target 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. Citigroup reduced their price objective on shares of Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. Jefferies Financial Group decreased their target price on shares of Okta from $100.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, UBS Group dropped their price target on shares of Okta from $120.00 to $108.00 and set a “buy” rating for the company in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Okta presently has a consensus rating of “Hold” and a consensus price target of $104.62.

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.