Todd Mckinnon Sells 200,512 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon sold 200,512 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $75.21, for a total value of $15,080,507.52. Following the sale, the chief executive officer now owns 8,495 shares in the company, valued at $638,908.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, September 23rd, Todd Mckinnon sold 32,516 shares of Okta stock. The stock was sold at an average price of $76.22, for a total transaction of $2,478,369.52.
• On Monday, July 22nd, Todd Mckinnon sold 92,729 shares of Okta stock. The stock was sold at an average price of $94.92, for a total transaction of $8,801,836.68.
• On Friday, July 19th, Todd Mckinnon sold 179,687 shares of Okta stock. The shares were sold at an average price of $93.42, for a total value of $16,786,359.54.

Okta Stock Down 0.5 %

NASDAQ:OKTA traded down $0.35 during trading hours on Tuesday, hitting $75.83. 1,272,828 shares of the company traded hands, compared to its average volume of 1,945,049. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18. The company has a market cap of $12.76 billion, a PE ratio of -45.57, a PEG ratio of 41.00 and a beta of 1.01. The firm’s 50-day simple moving average is $86.92 and its 200-day simple moving average is $93.25. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.29. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. The company had revenue of $646.00 million for the quarter, compared to analyst estimates of $632.24 million. Equities analysts predict that Okta, Inc. will post 0.08 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have commented on OKTA. UBS Group reduced their price target on Okta from $120.00 to $108.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Jefferies Financial Group decreased their target price on shares of Okta from $100.00 to $85.00 and set a “hold” rating for the company in a research report on Tuesday. DA Davidson dropped their price target on shares of Okta from $100.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, August 29th. Bank of America lowered shares of Okta from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $135.00 to $75.00 in a research note on Thursday, August 29th. Finally, Wedbush reissued an “outperform” rating and set a $130.00 target price on shares of Okta in a research note on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $104.62.

Hedge Funds Weigh In On Okta

Several institutional investors have recently modified their holdings of OKTA. Gilbert & Cook Inc. lifted its holdings in Okta by 21.4% during the fourth quarter. Gilbert & Cook Inc. now owns 15,196 shares of the company’s stock valued at $1,376,000 after purchasing an additional 2,676 shares during the last quarter. US Bancorp DE boosted its position in shares of Okta by 3.0% during the 4th quarter. US Bancorp DE now owns 99,446 shares of the company’s stock valued at $9,003,000 after acquiring an additional 2,902 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Okta by 6.6% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 148,644 shares of the company’s stock valued at $13,457,000 after purchasing an additional 9,260 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Okta by 21.4% in the 4th quarter. Intech Investment Management LLC now owns 11,074 shares of the company’s stock worth $1,003,000 after buying an additional 1,954 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Okta by 3,886.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 25,514 shares of the company’s stock worth $2,310,000 after buying an additional 24,874 shares during the last quarter. 86.64% of the stock is owned by institutional investors.

Okta Company Profile

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.