Okta Inc (NASDAQ:OKTA) General Counsel Jonathan T. Runyan sold 707 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $102.57, for a total transaction of $72,516.99. Following the sale, the general counsel now owns 1,406 shares of the company’s stock, valued at approximately $144,213.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of OKTA traded up $0.80 during trading hours on Thursday, hitting $104.43. The company’s stock had a trading volume of 40,600 shares, compared to its average volume of 3,016,450. The company has a market cap of $12.08 billion, a price-to-earnings ratio of -101.06 and a beta of 1.06. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.12 and a quick ratio of 1.12. The business has a 50 day simple moving average of $125.34 and a two-hundred day simple moving average of $112.37. Okta Inc has a 52-week low of $41.88 and a 52-week high of $141.85.
Okta (NASDAQ:OKTA) last released its quarterly earnings data on Wednesday, August 28th. The company reported ($0.32) EPS for the quarter, meeting analysts’ consensus estimates of ($0.32). Okta had a negative net margin of 31.90% and a negative return on equity of 53.93%. The company had revenue of $140.48 million during the quarter, compared to analyst estimates of $131.19 million. During the same period last year, the business earned ($0.15) earnings per share. Okta’s revenue was up 48.5% compared to the same quarter last year. Research analysts predict that Okta Inc will post -1.4 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in OKTA. Vanguard Group Inc. lifted its position in Okta by 19.4% during the second quarter. Vanguard Group Inc. now owns 9,386,104 shares of the company’s stock valued at $1,159,277,000 after purchasing an additional 1,527,751 shares during the last quarter. Coatue Management LLC lifted its position in Okta by 234.1% during the second quarter. Coatue Management LLC now owns 1,014,699 shares of the company’s stock valued at $125,326,000 after purchasing an additional 711,032 shares during the last quarter. Nuveen Asset Management LLC lifted its position in Okta by 761.8% during the second quarter. Nuveen Asset Management LLC now owns 528,622 shares of the company’s stock valued at $65,290,000 after purchasing an additional 467,285 shares during the last quarter. Gilder Gagnon Howe & Co. LLC lifted its position in Okta by 28.0% during the first quarter. Gilder Gagnon Howe & Co. LLC now owns 2,091,177 shares of the company’s stock valued at $173,003,000 after purchasing an additional 457,058 shares during the last quarter. Finally, Whale Rock Capital Management LLC lifted its position in Okta by 27.1% during the second quarter. Whale Rock Capital Management LLC now owns 1,870,680 shares of the company’s stock valued at $231,048,000 after purchasing an additional 399,310 shares during the last quarter. Institutional investors and hedge funds own 69.12% of the company’s stock.
A number of research firms recently issued reports on OKTA. JPMorgan Chase & Co. raised their price objective on shares of Okta from $127.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Monness Crespi & Hardt downgraded shares of Okta from a “buy” rating to a “neutral” rating in a report on Tuesday, May 28th. Deutsche Bank lifted their target price on shares of Okta from $124.00 to $152.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. BMO Capital Markets began coverage on shares of Okta in a research note on Thursday, August 1st. They issued a “market perform” rating and a $155.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Okta from a “sell” rating to a “hold” rating in a research note on Wednesday, June 5th. Eleven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Okta presently has an average rating of “Buy” and a consensus target price of $128.67.
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.
Read More: Liquidity
Receive News & Ratings for Okta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Okta and related companies with MarketBeat.com's FREE daily email newsletter.