Okta Inc (OKTA) Director Sells $2,877,061.54 in Stock

Okta Inc (NASDAQ:OKTA) Director Benjamin A. Horowitz sold 35,669 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $80.66, for a total value of $2,877,061.54. Following the sale, the director now owns 11,765 shares in the company, valued at approximately $948,964.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of NASDAQ:OKTA traded down $1.68 on Tuesday, reaching $81.19. 2,479,421 shares of the company traded hands, compared to its average volume of 2,060,578. Okta Inc has a 52 week low of $37.21 and a 52 week high of $87.72. The stock has a market capitalization of $8.75 billion, a P/E ratio of -78.83 and a beta of 1.20.

Okta (NASDAQ:OKTA) last posted its earnings results on Thursday, March 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.27) by $0.03. The company had revenue of $115.47 million for the quarter, compared to analysts’ expectations of $107.94 million. Okta had a negative return on equity of 44.56% and a negative net margin of 31.43%. As a group, research analysts expect that Okta Inc will post -1.38 EPS for the current fiscal year.

A number of research firms have weighed in on OKTA. Guggenheim began coverage on Okta in a research report on Monday, December 10th. They set a “buy” rating and a $79.00 price target on the stock. Goldman Sachs Group upgraded Okta from a “neutral” rating to a “buy” rating and raised their price target for the company from $80.00 to $94.00 in a research report on Monday. DA Davidson began coverage on Okta in a research report on Tuesday, December 18th. They set a “neutral” rating and a $62.00 price target on the stock. BidaskClub upgraded Okta from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 15th. Finally, Morgan Stanley began coverage on Okta in a research report on Monday, February 4th. They set an “equal weight” rating and a $85.00 price target on the stock. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $80.61.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ffcm LLC bought a new stake in shares of Okta in the fourth quarter worth about $36,000. Intercontinental Wealth Advisors LLC bought a new stake in Okta during the 4th quarter valued at approximately $55,000. Winslow Evans & Crocker Inc. bought a new stake in Okta during the 4th quarter valued at approximately $56,000. Penserra Capital Management LLC bought a new stake in Okta during the 4th quarter valued at approximately $81,000. Finally, Capital Investment Advisory Services LLC bought a new stake in Okta during the 4th quarter valued at approximately $99,000. 66.04% of the stock is currently owned by institutional investors.

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Okta Company Profile

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 Web and mobile applications, and data of organization; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; and Mobility Management, which simplifies and automates mobile device administration and provisioning across phones, tablets, and laptops.

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Insider Buying and Selling by Quarter for Okta (NASDAQ:OKTA)

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