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Okta Inc (NASDAQ:OKTA) CFO Sells 30,000 Shares of

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Okta Inc (NASDAQ:OKTA) CFO Sells 30,000 Shares of Stock
By: MarketBeat | October 14, 2020

Okta Inc (NASDAQ:OKTA) CFO William E. Losch sold 30,000 shares of Okta stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $244.44, for a total value of $7,333,200.00. Following the completion of the sale, the chief financial officer now directly owns 35,974 shares in the company, valued at approximately $8,793,484.56. The sale was disclosed in a legal filing with the SEC, which is available at this link.

NASDAQ:OKTA traded down $3.84 on Wednesday, reaching $243.11. The stock had a trading volume of 921,984 shares, compared to its average volume of 1,811,988. The company has a current ratio of 5.07, a quick ratio of 5.07 and a debt-to-equity ratio of 2.47. The company has a 50-day moving average of $212.11 and a 200 day moving average of $189.50. The stock has a market cap of $31.14 billion, a P/E ratio of -127.95 and a beta of 0.97. Okta Inc has a 12-month low of $88.66 and a 12-month high of $251.18.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Thursday, August 27th. The company reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of ($0.02) by $0.09. The company had revenue of $200.45 million during the quarter, compared to analysts' expectations of $186.37 million. Okta had a negative net margin of 32.93% and a negative return on equity of 35.07%. The firm's revenue for the quarter was up 42.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.05) EPS. On average, equities analysts predict that Okta Inc will post -1.48 EPS for the current year.

A number of equities research analysts have weighed in on OKTA shares. BidaskClub raised Okta from a "buy" rating to a "strong-buy" rating in a report on Friday, October 9th. Royal Bank of Canada lifted their price objective on Okta from $235.00 to $255.00 and gave the company an "outperform" rating in a report on Thursday, October 8th. BMO Capital Markets boosted their price target on Okta from $228.00 to $260.00 in a research note on Thursday, October 8th. Goldman Sachs Group boosted their price target on Okta from $230.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, August 28th. Finally, TheStreet raised Okta from a "d+" rating to a "c-" rating in a research note on Thursday, August 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Okta presently has an average rating of "Buy" and an average target price of $208.10.

Several hedge funds have recently modified their holdings of OKTA. Hound Partners LLC acquired a new stake in Okta during the second quarter worth about $1,844,000. Vanguard Group Inc. raised its stake in Okta by 7.0% during the second quarter. Vanguard Group Inc. now owns 11,072,369 shares of the company's stock worth $2,217,020,000 after acquiring an additional 721,025 shares during the period. 1832 Asset Management L.P. acquired a new stake in Okta during the first quarter worth about $67,392,000. Morgan Stanley raised its stake in Okta by 3.7% during the first quarter. Morgan Stanley now owns 11,011,526 shares of the company's stock worth $1,346,269,000 after acquiring an additional 395,715 shares during the period. Finally, Advisor Group Holdings Inc. acquired a new stake in Okta during the first quarter worth about $5,493,000. 77.40% of the stock is currently owned by institutional investors and hedge funds.



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