Jacques Frederic Kerrest Sells 2,100 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) Director Jacques Frederic Kerrest sold 2,100 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $95.12, for a total value of $199,752.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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 stock was 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 Down 1.0 %

OKTA stock traded down $0.94 during midday trading on Tuesday, hitting $93.61. 1,113,523 shares of the company’s stock were exchanged, compared to its average volume of 1,891,533. Okta, Inc. has a 1-year low of $65.04 and a 1-year high of $114.50. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $15.75 billion, a PE ratio of -56.62 and a beta of 1.03. The business has a 50-day simple moving average of $93.43 and a two-hundred day simple moving average of $93.02.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Wednesday, May 29th. The company reported ($0.13) earnings per share (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 firm had revenue of $617.00 million during the quarter, compared to the consensus estimate of $604.33 million. On average, sell-side analysts predict that Okta, Inc. will post -0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Okta

A number of hedge funds have recently made changes to their positions in the stock. City State Bank grew its position in Okta by 160.0% in the 1st quarter. City State Bank now owns 260 shares of the company’s stock valued at $27,000 after acquiring an additional 160 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Okta in the fourth quarter valued at approximately $29,000. EverSource Wealth Advisors LLC grew its holdings in shares of 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 purchasing an additional 142 shares in the last quarter. Venturi Wealth Management LLC increased its stake in Okta by 50.4% during the 1st quarter. Venturi Wealth Management LLC now owns 391 shares of the company’s stock worth $41,000 after buying an additional 131 shares during the period. Finally, Principal Securities Inc. acquired a new stake in Okta during the 4th quarter worth approximately $48,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Analyst Ratings Changes

OKTA has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of Okta from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Guggenheim reissued a “buy” rating and issued a $130.00 target price on shares of Okta in a research note on Tuesday, June 25th. UBS Group cut their target price on Okta from $130.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Royal Bank of Canada reissued an “outperform” rating and set a $125.00 target price on shares of Okta in a research note on Monday, June 17th. Finally, Wedbush restated an “outperform” rating and set a $130.00 price target on shares of Okta in a research note on Wednesday, May 29th. Nineteen investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.