Okta, Inc. (NASDAQ:OKTA) Director Sells $135,008.48 in Stock

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 1,552 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $86.99, for a total value of $135,008.48. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Jacques Frederic Kerrest also recently made the following trade(s):

• On Monday, June 10th, Jacques Frederic Kerrest sold 18,878 shares of Okta stock. The shares were sold at an average price of $87.19, for a total value of $1,645,972.82.

Okta Stock Performance

Shares of NASDAQ OKTA opened at $88.30 on Thursday. Okta, Inc. has a 1 year low of $65.04 and a 1 year high of $114.50. The firm has a 50-day simple moving average of $93.40 and a two-hundred day simple moving average of $92.58. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.73 and a quick ratio of 1.73.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, May 29th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.27. The company had revenue of $617.00 million for the quarter, compared to the consensus estimate of $604.33 million. Okta had a negative return on equity of 3.81% and a negative net margin of 11.69%. As a group, research analysts anticipate that Okta, Inc. will post -0.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on OKTA shares. Westpark Capital raised shares of Okta from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a report on Thursday, February 29th. Oppenheimer increased their target price on Okta from $110.00 to $125.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Susquehanna lowered their price target on Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. Mizuho upped their price target on Okta from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Friday, May 17th. Finally, Piper Sandler lifted their price objective on shares of Okta from $85.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Nineteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $105.58.

Institutional Trading of Okta

Several institutional investors and hedge funds have recently modified their holdings of OKTA. Vanguard Group Inc. lifted its holdings in shares of Okta by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 15,848,525 shares of the company’s stock worth $1,658,073,000 after buying an additional 128,906 shares during the period. Sands Capital Management LLC grew its holdings in Okta by 42.3% during the 4th quarter. Sands Capital Management LLC now owns 8,358,414 shares of the company’s stock worth $756,687,000 after acquiring an additional 2,486,456 shares in the last quarter. First Trust Advisors LP increased its position in Okta by 28.1% during the 4th quarter. First Trust Advisors LP now owns 4,085,430 shares of the company’s stock valued at $369,854,000 after purchasing an additional 897,216 shares during the period. Cerity Partners LLC raised its holdings in shares of Okta by 6,192.3% in the 4th quarter. Cerity Partners LLC now owns 3,172,223 shares of the company’s stock valued at $287,181,000 after purchasing an additional 3,121,809 shares in the last quarter. Finally, Eminence Capital LP raised its stake in Okta by 19.4% in the fourth quarter. Eminence Capital LP now owns 1,910,621 shares of the company’s stock worth $172,969,000 after buying an additional 310,918 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

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.