Okta Inc (OKTA) CFO Sells $1,865,400.00 in Stock
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.
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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