Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon Sells 233,028 Shares

Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon sold 233,028 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $82.31, for a total value of $19,180,534.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, October 18th, Todd Mckinnon sold 224,533 shares of Okta stock. The shares were sold at an average price of $74.62, for a total value of $16,754,652.46.

Okta Trading Down 1.7 %

NASDAQ OKTA opened at $81.64 on Friday. The stock has a 50-day simple moving average of $78.29 and a 200 day simple moving average of $83.15. The company has a market capitalization of $13.99 billion, a PE ratio of -233.26, a P/E/G ratio of 8.61 and a beta of 1.00. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 12 month low of $70.56 and a 12 month high of $114.50.

Institutional Investors Weigh In On Okta

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marshall Wace LLP increased its holdings in shares of Okta by 117.4% in the second quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock worth $212,841,000 after acquiring an additional 1,227,890 shares in the last quarter. Eminence Capital LP increased its holdings in shares of Okta by 18.1% in the second quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock worth $186,225,000 after acquiring an additional 305,381 shares in the last quarter. Primecap Management Co. CA increased its holdings in shares of Okta by 0.8% in the second quarter. Primecap Management Co. CA now owns 1,356,216 shares of the company’s stock worth $126,955,000 after acquiring an additional 10,800 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Okta by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,069,452 shares of the company’s stock worth $79,503,000 after acquiring an additional 17,950 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Okta by 20.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,029,753 shares of the company’s stock worth $96,388,000 after acquiring an additional 178,011 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on OKTA shares. JMP Securities reiterated a “market perform” rating on shares of Okta in a research report on Wednesday, December 4th. Jefferies Financial Group lowered their price target on Okta from $100.00 to $90.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Guggenheim reiterated a “buy” rating and issued a $130.00 price target on shares of Okta in a research report on Wednesday, December 4th. Wells Fargo & Company boosted their price objective on Okta from $80.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. raised Okta from a “neutral” rating to an “overweight” rating and set a $100.00 price objective on the stock in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $104.45.

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.