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.
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.
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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