Okta, Inc. (NASDAQ:OKTA) CFO Sells $6,291,500.00 in Stock


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Okta, Inc. (NASDAQ:OKTA) CFO William E. Losch sold 25,000 shares of the firm’s stock in a transaction on Monday, January 11th. The stock was sold at an average price of $251.66, for a total value of $6,291,500.00. Following the sale, the chief financial officer now directly owns 31,155 shares of the company’s stock, valued at $7,840,467.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Shares of OKTA stock opened at $256.60 on Thursday. The stock’s 50 day simple moving average is $253.95 and its 200 day simple moving average is $224.63. The company has a debt-to-equity ratio of 2.51, a quick ratio of 4.80 and a current ratio of 4.80. Okta, Inc. has a twelve month low of $88.66 and a twelve month high of $287.35. The company has a market capitalization of $33.22 billion, a price-to-earnings ratio of -132.95 and a beta of 1.00.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Tuesday, December 1st. The company reported $0.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.05. The business had revenue of $217.40 million for the quarter, compared to the consensus estimate of $203.15 million. Okta had a negative return on equity of 31.29% and a negative net margin of 31.38%. The firm’s revenue was up 42.1% compared to the same quarter last year. During the same period last year, the business earned ($0.07) EPS. On average, analysts forecast that Okta, Inc. will post -1.31 EPS for the current fiscal year.

Several research firms have recently weighed in on OKTA. Oppenheimer raised their price objective on Okta from $250.00 to $295.00 in a research note on Thursday, December 3rd. BidaskClub cut Okta from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 5th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $255.00 target price on shares of Okta in a research report on Sunday, November 29th. KeyCorp raised their target price on Okta from $282.00 to $313.00 in a research report on Monday, December 21st. Finally, Morgan Stanley raised their target price on Okta from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Friday, January 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. Okta has an average rating of “Buy” and an average target price of $243.80.

A number of hedge funds and other institutional investors have recently modified their holdings of OKTA. Avion Wealth bought a new position in Okta in the 3rd quarter worth approximately $27,000. Eudaimonia Partners LLC bought a new position in Okta in the 3rd quarter worth approximately $28,000. CWM LLC increased its position in Okta by 2,057.1% in the 3rd quarter. CWM LLC now owns 151 shares of the company’s stock worth $32,000 after buying an additional 144 shares during the period. State of Alaska Department of Revenue bought a new position in Okta in the 4th quarter worth approximately $32,000. Finally, Focused Wealth Management Inc increased its position in Okta by 109.7% in the 3rd quarter. Focused Wealth Management Inc now owns 170 shares of the company’s stock worth $36,000 after buying an additional 1,929 shares during the period. 64.00% of the stock is currently owned by institutional investors.

Okta Company Profile

Okta, Inc provides identity management platforms for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; and Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials.

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