Okta, Inc. (NASDAQ:OKTA) Insider Sells $199,556.50 in Stock

by · The Markets Daily

Okta, Inc. (NASDAQ:OKTA – Get Free Report) insider Larissa Schwartz sold 2,791 shares of Okta stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $71.50, for a total value of $199,556.50. Following the completion of the transaction, the insider now directly owns 22,125 shares of the company’s stock, valued at approximately $1,581,937.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Larissa Schwartz also recently made the following trade(s):

  • On Monday, October 14th, Larissa Schwartz sold 2,797 shares of Okta stock. The stock was sold at an average price of $77.63, for a total value of $217,131.11.
  • On Monday, September 16th, Larissa Schwartz sold 2,790 shares of Okta stock. The stock was sold at an average price of $74.01, for a total transaction of $206,487.90.
  • On Tuesday, August 13th, Larissa Schwartz sold 2,795 shares of Okta stock. The shares were sold at an average price of $92.02, for a total transaction of $257,195.90.

Okta Price Performance

Okta stock traded up $2.54 during midday trading on Wednesday, reaching $76.61. 2,483,840 shares of the stock were exchanged, compared to its average volume of 1,928,649. Okta, Inc. has a 52 week low of $65.98 and a 52 week high of $114.50. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83. The company’s fifty day moving average is $74.84 and its 200-day moving average is $87.04.

Okta (NASDAQ:OKTA – Get Free Report) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share for the quarter, topping 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 firm had revenue of $646.00 million for the quarter, compared to analysts’ expectations of $632.24 million. As a group, equities analysts forecast that Okta, Inc. will post 0.19 EPS for the current year.

Analyst Upgrades and Downgrades

OKTA has been the subject of several research analyst reports. Wells Fargo & Company decreased their price target on shares of Okta from $90.00 to $80.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. BTIG Research dropped their price target on Okta from $128.00 to $98.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Mizuho reduced their price objective on Okta from $104.00 to $92.00 and set a “neutral” rating for the company in a research note on Thursday, October 17th. Westpark Capital restated a “buy” rating and set a $140.00 price objective on shares of Okta in a report on Thursday, August 29th. Finally, Morgan Stanley dropped their price objective on shares of Okta from $100.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Monday. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Okta currently has a consensus rating of “Hold” and an average price target of $99.39.

Read Our Latest Research Report on Okta

Institutional Trading of Okta

Several institutional investors and hedge funds have recently modified their holdings of OKTA. EverSource Wealth Advisors LLC grew its holdings in shares of Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after purchasing an additional 142 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in Okta during the third quarter valued at approximately $26,000. Blue Trust Inc. grew its stake in Okta by 105.5% in the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after buying an additional 191 shares in the last quarter. First Command Advisory Services Inc. bought a new position in shares of Okta in the 2nd quarter worth $47,000. Finally, nVerses Capital LLC purchased a new stake in shares of Okta during the 2nd quarter valued at $47,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

About Okta

(Get Free Report)

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.

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