Insider Selling: Okta, Inc. (NASDAQ:OKTA) CEO Sells 200,512 Shares of 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 shares were sold at an average price of $75.21, for a total value of $15,080,507.52. Following the completion of the sale, the chief executive officer now directly owns 8,495 shares of the company’s stock, valued at $638,908.95. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Monday, September 23rd, Todd Mckinnon sold 32,516 shares of Okta stock. The shares were sold at an average price of $76.22, for a total value 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 value 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 transaction of $16,786,359.54.

Okta Stock Down 0.8 %

OKTA opened at $74.29 on Friday. Okta, Inc. has a 12 month low of $65.04 and a 12 month high of $114.50. The company has a market cap of $12.50 billion, a PE ratio of -44.49, a price-to-earnings-growth ratio of 42.19 and a beta of 1.01. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.18. The company has a 50 day moving average of $85.61 and a 200 day moving average of $92.76.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.29. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. The firm had revenue of $646.00 million during the quarter, compared to analyst estimates of $632.24 million. On average, sell-side analysts expect that Okta, Inc. will post 0.08 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus reduced 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. Westpark Capital reissued a “buy” rating and set a $140.00 price objective on shares of Okta in a report on Thursday, August 29th. Evercore ISI raised Okta from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $102.00 to $122.00 in a research report on Thursday, May 30th. Wells Fargo & Company lowered their price target on Okta from $100.00 to $90.00 and set an “equal weight” rating for the company in a research report on Thursday, August 29th. Finally, Piper Sandler cut their price objective on shares of Okta from $110.00 to $100.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. One research 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. Based on data from MarketBeat.com, Okta has a consensus rating of “Hold” and an average target price of $104.62.

Institutional Investors Weigh In On Okta

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

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.