Todd Mckinnon Sells 92,729 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon sold 92,729 shares of Okta stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $94.92, for a total value of $8,801,836.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Todd Mckinnon also recently made the following trade(s):

• On Friday, July 19th, Todd Mckinnon sold 179,687 shares of Okta stock. The stock was sold at an average price of $93.42, for a total value of $16,786,359.54.

Okta Stock Up 0.5 %

Shares of OKTA opened at $93.11 on Friday. The company has a market capitalization of $15.66 billion, a P/E ratio of -55.75 and a beta of 1.03. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.73 and a quick ratio of 1.73. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50. The business’s 50 day simple moving average is $93.04 and its 200-day simple moving average is $93.91.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OKTA. Nordea Investment Management AB raised its position in Okta by 6.0% in the 4th quarter. Nordea Investment Management AB now owns 11,433 shares of the company’s stock worth $1,033,000 after purchasing an additional 646 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Okta by 22.5% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 23,971 shares of the company’s stock worth $2,170,000 after purchasing an additional 4,404 shares during the last quarter. Kingswood Wealth Advisors LLC raised its position in Okta by 17.0% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 3,193 shares of the company’s stock worth $289,000 after purchasing an additional 463 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Okta by 2,721.2% in the 4th quarter. Assenagon Asset Management S.A. now owns 176,071 shares of the company’s stock worth $15,940,000 after purchasing an additional 169,830 shares during the last quarter. Finally, Miracle Mile Advisors LLC raised its position in Okta by 22.2% in the 4th quarter. Miracle Mile Advisors LLC now owns 4,955 shares of the company’s stock worth $449,000 after purchasing an additional 900 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Guggenheim reiterated a “buy” rating and issued a $130.00 price objective on shares of Okta in a research note on Tuesday, June 25th. Evercore ISI upgraded Okta from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $102.00 to $122.00 in a research note on Thursday, May 30th. BMO Capital Markets dropped their price objective on Okta from $110.00 to $100.00 and set a “market perform” rating on the stock in a research note on Monday, June 3rd. Wedbush reissued an “outperform” rating and set a $130.00 target price on shares of Okta in a research report on Wednesday, May 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $125.00 target price on shares of Okta in a research report on Monday, June 17th. Nineteen equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Okta has an average rating of “Hold” and an average price target of $105.58.

Okta Company Profile

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.