Okta Inc (NASDAQ:OKTA) Director Benjamin A. Horowitz sold 48,899 shares of Okta stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $115.77, for a total value of $5,661,037.23. Following the sale, the director now directly owns 15,735 shares in the company, valued at approximately $1,821,640.95. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Shares of NASDAQ OKTA traded up $4.44 during mid-day trading on Friday, reaching $109.66. The company had a trading volume of 2,028,100 shares, compared to its average volume of 2,282,389. Okta Inc has a 1-year low of $41.88 and a 1-year high of $141.85. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.57. The stock has a market cap of $12.47 billion, a PE ratio of -106.47 and a beta of 1.01. The company has a 50-day moving average price of $107.72 and a two-hundred day moving average price of $118.09.
Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, August 28th. The company reported ($0.32) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.32). Okta had a negative return on equity of 53.93% and a negative net margin of 31.90%. The firm had revenue of $140.48 million for the quarter, compared to analyst estimates of $131.19 million. During the same period in the previous year, the company posted ($0.15) earnings per share. The company’s quarterly revenue was up 48.5% compared to the same quarter last year. On average, research analysts expect that Okta Inc will post -1.42 EPS for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers increased its stake in Okta by 59.5% during the third quarter. Cetera Investment Advisers now owns 3,829 shares of the company’s stock valued at $378,000 after acquiring an additional 1,428 shares during the period. First Allied Advisory Services Inc. bought a new stake in shares of Okta in the 3rd quarter valued at approximately $392,000. Miracle Mile Advisors LLC bought a new stake in shares of Okta in the 3rd quarter valued at approximately $7,835,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Okta in the 3rd quarter valued at approximately $112,000. Finally, AE Wealth Management LLC grew its stake in shares of Okta by 7.7% in the 3rd quarter. AE Wealth Management LLC now owns 9,558 shares of the company’s stock valued at $941,000 after purchasing an additional 685 shares during the period. Hedge funds and other institutional investors own 69.29% of the company’s stock.
Several equities analysts have recently issued reports on the company. DA Davidson lifted their price target on Okta from $114.00 to $131.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Robert W. Baird set a $135.00 price target on Okta and gave the company a “hold” rating in a research report on Friday, September 13th. BidaskClub cut Okta from a “hold” rating to a “sell” rating in a research report on Thursday. Morgan Stanley lifted their price target on Okta from $107.00 to $117.00 and gave the company an “equal weight” rating in a research report on Thursday, August 29th. They noted that the move was a valuation call. Finally, Canaccord Genuity reiterated a “buy” rating and set a $145.00 price target (up from $125.00) on shares of Okta in a research report on Thursday, August 29th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $130.26.
Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.
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