Jonathan James Addison Sells 9,850 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) CRO Jonathan James Addison sold 9,850 shares of Okta stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $77.63, for a total transaction of $764,655.50. Following the completion of the sale, the executive now directly owns 14,601 shares of the company’s stock, valued at $1,133,475.63. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Okta Stock Down 3.7 %

Shares of OKTA stock traded down $2.93 during trading hours on Wednesday, hitting $75.72. 4,047,659 shares of the company were exchanged, compared to its average volume of 1,938,962. The stock has a market capitalization of $12.74 billion, a price-to-earnings ratio of -45.34, a P/E/G ratio of 26.91 and a beta of 1.02. 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 $81.03 and its two-hundred day simple moving average is $89.60. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, August 28th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.29. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. The company had revenue of $646.00 million for the quarter, compared to the consensus estimate of $632.24 million. Sell-side analysts predict that Okta, Inc. will post 0.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

OKTA has been the topic of a number of research analyst reports. Truist Financial reissued a “hold” rating and issued a $95.00 price target (down from $105.00) on shares of Okta in a research note on Thursday, August 29th. Citigroup cut their price objective on Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. Wells Fargo & Company cut their price target on shares of Okta from $100.00 to $90.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. Robert W. Baird decreased their price target on shares of Okta from $108.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, August 29th. Finally, The Goldman Sachs Group cut their price objective on Okta from $130.00 to $113.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $104.43.

Hedge Funds Weigh In On Okta

A number of hedge funds have recently added to or reduced their stakes in OKTA. Future Financial Wealth Managment LLC bought a new position in shares of Okta in the 3rd quarter worth about $26,000. City State Bank lifted its holdings in Okta by 160.0% in the first quarter. City State Bank now owns 260 shares of the company’s stock worth $27,000 after acquiring an additional 160 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Okta by 71.4% in the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after acquiring an additional 142 shares during the last quarter. First Command Advisory Services Inc. acquired a new position in Okta in the second quarter valued at approximately $47,000. Finally, nVerses Capital LLC bought a new position in shares of Okta during the second quarter valued at approximately $47,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

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.