Okta Inc (OKTA) CFO Sells $364,715.61 in Stock
Okta Inc (NASDAQ:OKTA) CFO William E. Losch sold 4,431 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $82.31, for a total value of $364,715.61. Following the completion of the sale, the chief financial officer now directly owns 11,465 shares in the company, valued at approximately $943,684.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Okta stock opened at $81.77 on Thursday. The firm has a market cap of $9.03 billion, a PE ratio of -79.39 and a beta of 1.20. Okta Inc has a twelve month low of $37.26 and a twelve month high of $87.72.
Okta (NASDAQ:OKTA) last posted its earnings results on Thursday, March 7th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.03. The firm had revenue of $115.47 million for the quarter, compared to analyst estimates 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 forecast that Okta Inc will post -1.38 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of the stock. Capital Impact Advisors LLC purchased a new position in Okta during the fourth quarter worth about $1,744,000. MUFG Securities EMEA plc purchased a new position in Okta during the fourth quarter worth about $7,669,000. American Century Companies Inc. raised its holdings in Okta by 27.7% during the fourth quarter. American Century Companies Inc. now owns 46,375 shares of the company’s stock worth $2,959,000 after purchasing an additional 10,051 shares in the last quarter. Geode Capital Management LLC raised its holdings in Okta by 11.9% during the fourth quarter. Geode Capital Management LLC now owns 828,545 shares of the company’s stock worth $52,860,000 after purchasing an additional 87,926 shares in the last quarter. Finally, Norges Bank purchased a new position in Okta during the fourth quarter worth about $53,106,000. 66.04% of the stock is currently owned by hedge funds and other institutional investors.
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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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