Okta Inc (NASDAQ:OKTA) CFO William E. Losch sold 20,000 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $93.27, for a total transaction of $1,865,400.00. Following the transaction, the chief financial officer now owns 28,798 shares of the company’s stock, valued at $2,685,989.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

NASDAQ OKTA opened at $101.73 on Thursday. The firm has a market capitalization of $11.34 billion, a P/E ratio of -98.77 and a beta of 1.16. Okta Inc has a twelve month low of $40.24 and a twelve month high of $103.29.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Thursday, March 7th. The company reported ($0.24) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.03. Okta had a negative return on equity of 44.56% and a negative net margin of 31.43%. The business had revenue of $115.47 million during the quarter, compared to the consensus estimate of $107.94 million. Equities analysts anticipate that Okta Inc will post -1.38 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of OKTA. FMR LLC grew its holdings in Okta by 27.5% during the 4th quarter. FMR LLC now owns 9,265,547 shares of the company’s stock worth $591,143,000 after acquiring an additional 1,996,090 shares during the period. Norges Bank acquired a new stake in Okta during the 4th quarter worth about $53,106,000. Morgan Stanley grew its holdings in Okta by 49.3% during the 3rd quarter. Morgan Stanley now owns 2,256,056 shares of the company’s stock worth $158,736,000 after acquiring an additional 744,738 shares during the period. BlackRock Inc. grew its holdings in Okta by 16.4% during the 4th quarter. BlackRock Inc. now owns 4,402,670 shares of the company’s stock worth $280,891,000 after acquiring an additional 618,835 shares during the period. Finally, 1832 Asset Management L.P. acquired a new stake in Okta during the 4th quarter worth about $28,190,000. Hedge funds and other institutional investors own 65.78% of the company’s stock.

Several brokerages have recently issued reports on OKTA. Piper Jaffray Companies upped their price target on shares of Okta to $89.00 and gave the stock an “overweight” rating in a report on Friday, March 8th. JMP Securities reiterated a “hold” rating on shares of Okta in a report on Monday, March 11th. Canaccord Genuity reiterated a “buy” rating and set a $85.00 price target (up from $75.00) on shares of Okta in a report on Friday, March 8th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Okta from a “hold” rating to a “sell” rating in a report on Tuesday, February 5th. Finally, Goldman Sachs Group upgraded Okta from a “neutral” rating to a “buy” rating and increased their price objective for the company from $80.00 to $94.00 in a report on Monday, March 18th. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Okta presently has an average rating of “Buy” and a consensus price target of $82.11.

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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 cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.

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

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