Okta, Inc. (NASDAQ:OKTA) Director Sells $199,752.00 in Stock

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 2,100 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $95.12, for a total value of $199,752.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Thursday, June 20th, Jacques Frederic Kerrest sold 1,552 shares of Okta stock. The stock was sold at an average price of $86.99, for a total value of $135,008.48.
• On Monday, June 10th, Jacques Frederic Kerrest sold 18,878 shares of Okta stock. The stock was sold at an average price of $87.19, for a total value of $1,645,972.82.

Okta Trading Up 0.2 %

NASDAQ:OKTA opened at $93.79 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.19. Okta, Inc. has a 1-year low of $65.04 and a 1-year high of $114.50. The stock has a fifty day simple moving average of $93.43 and a 200 day simple moving average of $93.11.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, May 29th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.27. Okta had a negative return on equity of 3.81% and a negative net margin of 11.69%. The business had revenue of $617.00 million during the quarter, compared to analyst estimates of $604.33 million. Equities analysts predict that Okta, Inc. will post -0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Okta

A number of hedge funds and other institutional investors have recently modified their holdings of OKTA. City State Bank boosted its position 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. GAMMA Investing LLC acquired a new position in shares of Okta in the 4th quarter valued at $29,000. EverSource Wealth Advisors LLC boosted its position in Okta by 71.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after acquiring an additional 142 shares during the period. Venturi Wealth Management LLC boosted its position in Okta by 50.4% during the 1st quarter. Venturi Wealth Management LLC now owns 391 shares of the company’s stock worth $41,000 after acquiring an additional 131 shares during the period. Finally, Principal Securities Inc. acquired a new stake in Okta during the 4th quarter worth about $48,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on OKTA. Evercore ISI raised Okta from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $102.00 to $122.00 in a research report on Thursday, May 30th. UBS Group dropped their target price on Okta from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Guggenheim reaffirmed a “buy” rating and issued a $130.00 target price on shares of Okta in a research report on Tuesday, June 25th. Mizuho increased their target price on Okta from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Friday, May 17th. Finally, JPMorgan Chase & Co. increased their target price on Okta from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Nineteen equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $105.58.

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.