Okta, Inc. (NASDAQ:OKTA) CEO Sells $15,080,507.52 in Stock

Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon sold 200,512 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were 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 approximately $638,908.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

Okta Price Performance

Shares of OKTA opened at $74.29 on Friday. The business has a 50-day moving average of $85.61 and a 200-day moving average of $92.76. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83. The company has a market capitalization of $12.50 billion, a price-to-earnings ratio of -44.49, a price-to-earnings-growth ratio of 42.19 and a beta of 1.01. Okta, Inc. has a 1 year low of $65.04 and a 1 year high of $114.50.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $646.00 million during the quarter, compared to analyst estimates of $632.24 million. As a group, equities research analysts anticipate that Okta, Inc. will post 0.08 earnings per share for the current year.

Analyst Ratings Changes

OKTA has been the subject of several analyst reports. Jefferies Financial Group dropped their price objective on shares of Okta from $100.00 to $85.00 and set a “hold” rating for the company in a research note on Tuesday. Truist Financial reiterated a “hold” rating and issued a $95.00 price target (down from $105.00) on shares of Okta in a research note on Thursday, August 29th. The Goldman Sachs Group lowered their price objective on Okta from $130.00 to $113.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Susquehanna cut their target price on Okta from $110.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Finally, UBS Group reduced their target price on Okta from $120.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $104.62.

Institutional Trading of Okta

A number of institutional investors have recently bought and sold shares of OKTA. City State Bank lifted its stake in shares of Okta by 160.0% in the 1st quarter. City State Bank now owns 260 shares of the company’s stock valued at $27,000 after purchasing an additional 160 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Okta by 71.4% in the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after purchasing an additional 142 shares in the last quarter. First Command Advisory Services Inc. acquired a new position in Okta in the second quarter valued at approximately $47,000. nVerses Capital LLC bought a new position in shares of Okta during the 2nd quarter worth approximately $47,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Okta during the 1st quarter worth approximately $63,000. Institutional investors own 86.64% of the company’s stock.

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.