Okta, Inc. (NASDAQ:OKTA) Director Sells $2,669,519.22 in Stock

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 26,618 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $100.29, for a total transaction of $2,669,519.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, July 5th, Jacques Frederic Kerrest sold 34,620 shares of Okta stock. The stock was sold at an average price of $96.04, for a total transaction of $3,324,904.80.
• On Tuesday, July 2nd, Jacques Frederic Kerrest sold 3,280 shares of Okta stock. The stock was sold at an average price of $95.64, for a total transaction of $313,699.20.
• On Friday, June 28th, Jacques Frederic Kerrest sold 2,100 shares of Okta stock. The stock was sold at an average price of $95.12, for a total transaction of $199,752.00.
• 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 transaction 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 transaction of $1,645,972.82.

Okta Stock Up 0.1 %

Shares of NASDAQ OKTA opened at $94.03 on Friday. The company’s 50-day simple moving average is $93.42 and its 200-day simple moving average is $93.68. Okta, Inc. has a 52-week low of $65.04 and a 52-week high of $114.50. The firm has a market cap of $15.82 billion, a price-to-earnings ratio of -56.31 and a beta of 1.03. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.19.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on OKTA. Susquehanna reduced their target price on shares of Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. JPMorgan Chase & Co. raised their target price on shares of Okta from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 target price on shares of Okta in a report on Monday, June 17th. Wedbush reissued an “outperform” rating and set a $130.00 target price on shares of Okta in a report on Wednesday, May 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $130.00 target price on shares of Okta in a report on Thursday, May 30th. Nineteen analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $105.58.

Hedge Funds Weigh In On Okta

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Banque Cantonale Vaudoise boosted its position in Okta by 4.3% during the first quarter. Banque Cantonale Vaudoise now owns 2,933 shares of the company’s stock worth $307,000 after acquiring an additional 122 shares during the last quarter. Venturi Wealth Management LLC boosted its position in Okta by 50.4% during the first 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 last quarter. Creative Financial Designs Inc. ADV boosted its holdings in Okta by 7.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,926 shares of the company’s stock valued at $174,000 after purchasing an additional 138 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Okta by 71.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after purchasing an additional 142 shares during the last quarter. Finally, CWM LLC boosted its holdings in Okta by 5.3% in the 2nd quarter. CWM LLC now owns 2,910 shares of the company’s stock valued at $272,000 after purchasing an additional 147 shares during the last quarter. 86.64% of the stock is currently 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.