Insider Selling: Okta, Inc. (NASDAQ:OKTA) CEO Sells $8,801,836.68 in Stock

Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon sold 92,729 shares of Okta stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $94.92, for a total value of $8,801,836.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Todd Mckinnon also recently made the following trade(s):

• 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 transaction of $16,786,359.54.

Okta Stock Up 0.5 %

OKTA opened at $93.11 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.73 and a current ratio of 1.73. The company has a market capitalization of $15.66 billion, a PE ratio of -55.75 and a beta of 1.03. The stock’s fifty day moving average is $93.04 and its 200-day moving average is $93.91. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, May 29th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.27. Okta had a negative net margin of 11.69% and a negative return on equity of 3.81%. The firm had revenue of $617.00 million for the quarter, compared to analysts’ expectations of $604.33 million. On average, equities analysts predict that Okta, Inc. will post -0.28 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Evercore ISI upgraded shares of Okta from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $102.00 to $122.00 in a research report on Thursday, May 30th. Needham & Company LLC reissued a “buy” rating and issued a $130.00 target price on shares of Okta in a report on Thursday, May 30th. BMO Capital Markets lowered their target price on Okta from $110.00 to $100.00 and set a “market perform” rating for the company in a report on Monday, June 3rd. Mizuho raised their price target on Okta from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, May 17th. Finally, Susquehanna reduced their price objective on Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Nineteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $105.58.

Institutional Trading of Okta

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. City State Bank increased its holdings in shares of Okta by 160.0% in the first quarter. City State Bank now owns 260 shares of the company’s stock valued at $27,000 after buying an additional 160 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Okta in the 4th quarter worth $29,000. EverSource Wealth Advisors LLC raised its position in shares of Okta by 71.4% during 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 during the period. Venturi Wealth Management LLC lifted its holdings in shares of Okta by 50.4% during the first quarter. Venturi Wealth Management LLC now owns 391 shares of the company’s stock valued at $41,000 after purchasing an additional 131 shares during the last quarter. Finally, Principal Securities Inc. acquired a new position in shares of Okta in the 4th quarter valued at $48,000. 86.64% of the stock is owned by institutional investors and hedge funds.

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.