Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon Sells 32,516 Shares

Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon sold 32,516 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $76.22, for a total transaction of $2,478,369.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, September 20th, Todd Mckinnon sold 200,512 shares of Okta stock. The stock was sold at an average price of $75.21, for a total value of $15,080,507.52.
• 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 stock was sold at an average price of $93.42, for a total value of $16,786,359.54.

Okta Stock Performance

Shares of NASDAQ:OKTA traded down $0.35 during midday trading on Tuesday, reaching $75.83. 1,272,828 shares of the company’s stock traded hands, compared to its average volume of 1,945,049. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50. The company has a market cap of $12.76 billion, a price-to-earnings ratio of -45.57, a P/E/G ratio of 41.00 and a beta of 1.01. The stock has a 50 day moving average of $86.92 and a 200 day moving average of $93.25.

Okta (NASDAQ:OKTA) last posted its earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $646.00 million for the quarter, compared to analysts’ expectations of $632.24 million. As a group, equities research analysts anticipate that Okta, Inc. will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Okta

A number of institutional investors and hedge funds have recently modified their holdings of OKTA. Sands Capital Management LLC boosted its position in Okta by 42.3% in the fourth quarter. Sands Capital Management LLC now owns 8,358,414 shares of the company’s stock worth $756,687,000 after purchasing an additional 2,486,456 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Okta by 117.4% in the 2nd quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock worth $212,841,000 after purchasing an additional 1,227,890 shares during the period. First Trust Advisors LP boosted its holdings in shares of Okta by 28.1% in the fourth quarter. First Trust Advisors LP now owns 4,085,430 shares of the company’s stock worth $369,854,000 after buying an additional 897,216 shares during the last quarter. Point72 Asset Management L.P. grew its position in Okta by 1,465.8% during the fourth quarter. Point72 Asset Management L.P. now owns 682,900 shares of the company’s stock valued at $61,823,000 after buying an additional 732,900 shares during the period. Finally, Vanguard Group Inc. grew its position in Okta by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 15,719,619 shares of the company’s stock valued at $1,423,097,000 after buying an additional 438,496 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Piper Sandler reduced their target price on Okta from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Thursday, August 29th. Wedbush reissued an “outperform” rating and set a $130.00 price objective on shares of Okta in a research report on Wednesday, May 29th. Wells Fargo & Company dropped their target price on shares of Okta from $100.00 to $90.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Robert W. Baird reduced their price target on shares of Okta from $108.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, August 29th. Finally, Stifel Nicolaus lowered their price objective on shares of Okta from $122.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $104.62.

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.