Okta, Inc. (NASDAQ:OKTA) Director Sells $199,752.00 in Stock

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 2,100 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $95.12, for a total value of $199,752.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Jacques Frederic Kerrest also recently made the following trade(s):

• On Thursday, June 20th, Jacques Frederic Kerrest sold 1,552 shares of Okta stock. The shares were sold at an average price of $86.99, for a total value of $135,008.48.
• On Monday, June 10th, Jacques Frederic Kerrest sold 18,878 shares of Okta stock. The shares were sold at an average price of $87.19, for a total value of $1,645,972.82.

Okta Trading Up 0.2 %

Shares of NASDAQ OKTA opened at $93.79 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.73 and a current ratio of 1.73. Okta, Inc. has a 52 week low of $65.04 and a 52 week high of $114.50. The stock’s fifty day moving average is $93.43 and its 200 day moving average is $93.11.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, May 29th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.27. Okta had a negative return on equity of 3.81% and a negative net margin of 11.69%. The company had revenue of $617.00 million for the quarter, compared to analysts’ expectations of $604.33 million. As a group, analysts forecast that Okta, Inc. will post -0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. City State Bank grew its position in Okta by 160.0% in the first quarter. City State Bank now owns 260 shares of the company’s stock valued at $27,000 after acquiring an additional 160 shares during the last quarter. GAMMA Investing LLC bought a new position in Okta in the fourth quarter valued at about $29,000. EverSource Wealth Advisors LLC grew its position in Okta by 71.4% in the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock valued at $36,000 after acquiring an additional 142 shares during the last quarter. Venturi Wealth Management LLC grew its position in Okta by 50.4% in the first quarter. Venturi Wealth Management LLC now owns 391 shares of the company’s stock valued at $41,000 after acquiring an additional 131 shares during the last quarter. Finally, Principal Securities Inc. bought a new position in Okta in the fourth quarter valued at about $48,000. Institutional investors own 86.64% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Evercore ISI raised Okta from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $102.00 to $122.00 in a report on Thursday, May 30th. Susquehanna cut their price objective on Okta from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. Wedbush reissued an “outperform” rating and issued a $130.00 price objective on shares of Okta in a report on Wednesday, May 29th. UBS Group cut their price objective on Okta from $130.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Finally, Mizuho increased their price objective on Okta from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, May 17th. Nineteen equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Okta currently has a consensus rating of “Hold” and a consensus price target of $105.58.

About Okta

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.