Larissa Schwartz Sells 2,792 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 2,792 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $99.40, for a total transaction of $277,524.80. Following the completion of the sale, the insider now directly owns 29,809 shares in the company, valued at $2,963,014.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Okta Price Performance

NASDAQ OKTA opened at $94.03 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $15.82 billion, a P/E ratio of -56.31 and a beta of 1.03. The company has a 50-day moving average price of $93.42 and a 200-day moving average price of $93.68. Okta, Inc. has a 52 week low of $65.04 and a 52 week high of $114.50.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, May 29th. The company reported ($0.13) earnings per share 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 net margin of 11.69% and a negative return on equity of 3.81%. Equities research analysts anticipate that Okta, Inc. will post -0.28 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Mizuho upped their price objective on shares of Okta from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, May 17th. Guggenheim reaffirmed a “buy” rating and set a $130.00 price objective on shares of Okta in a research report on Tuesday, June 25th. Evercore ISI upgraded Okta from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $102.00 to $122.00 in a research note on Thursday, May 30th. Wedbush reissued an “outperform” rating and issued a $130.00 target price on shares of Okta in a research note on Wednesday, May 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price target on shares of Okta in a research report on Thursday, May 30th. Nineteen investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $105.58.

Hedge Funds Weigh In On Okta

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Okta by 0.8% in the first quarter. Vanguard Group Inc. now owns 15,848,525 shares of the company’s stock worth $1,658,073,000 after buying an additional 128,906 shares in the last quarter. Sands Capital Management LLC raised its stake in Okta by 42.3% during the 4th quarter. Sands Capital Management LLC now owns 8,358,414 shares of the company’s stock worth $756,687,000 after acquiring an additional 2,486,456 shares during the period. First Trust Advisors LP lifted its holdings in Okta by 28.1% during the fourth quarter. First Trust Advisors LP now owns 4,085,430 shares of the company’s stock valued at $369,854,000 after purchasing an additional 897,216 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Okta by 6,192.3% in the fourth quarter. Cerity Partners LLC now owns 3,172,223 shares of the company’s stock worth $287,181,000 after purchasing an additional 3,121,809 shares during the period. Finally, Eminence Capital LP increased its stake in shares of Okta by 19.4% in the fourth quarter. Eminence Capital LP now owns 1,910,621 shares of the company’s stock worth $172,969,000 after purchasing an additional 310,918 shares in the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

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.