Okta Inc. (OKTA)

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L Michelle Wilson Sells 30,000 Shares of Okta, Inc. (NASDAQ:OKTA) Stock
By: MarketBeat | December 14, 2020

Okta, Inc. (NASDAQ:OKTA) Director L Michelle Wilson sold 30,000 shares of the business's stock in a transaction that occurred on Thursday, December 10th. The shares were sold at an average price of $249.00, for a total value of $7,470,000.00. Following the transaction, the director now owns 47,270 shares of the company's stock, valued at $11,770,230. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Shares of NASDAQ OKTA traded down $0.81 during trading hours on Monday, hitting $251.54. 1,907,586 shares of the company traded hands, compared to its average volume of 1,729,974. The company's 50 day moving average price is $227.96 and its 200 day moving average price is $212.74. Okta, Inc. has a 12 month low of $88.66 and a 12 month high of $258.75. The stock has a market capitalization of $32.22 billion, a price-to-earnings ratio of -134.04 and a beta of 0.99. The company has a current ratio of 5.07, a quick ratio of 5.07 and a debt-to-equity ratio of 2.47.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Tuesday, December 1st. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.05. Okta had a negative net margin of 32.93% and a negative return on equity of 35.07%. The company had revenue of $217.40 million during the quarter, compared to analyst estimates of $203.15 million. During the same period in the previous year, the firm earned ($0.07) earnings per share. Okta's quarterly revenue was up 42.1% compared to the same quarter last year. Equities analysts anticipate that Okta, Inc. will post -1.48 EPS for the current year.

Several equities analysts have weighed in on the stock. Royal Bank of Canada reaffirmed a "buy" rating and set a $255.00 price target on shares of Okta in a report on Sunday, November 29th. Robert W. Baird reaffirmed a "hold" rating on shares of Okta in a report on Friday, August 28th. TheStreet upgraded Okta from a "d+" rating to a "c-" rating in a research note on Thursday, August 27th. Truist boosted their price objective on Okta from $200.00 to $240.00 in a research report on Friday, August 28th. Finally, The Goldman Sachs Group upped their price objective on Okta from $240.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, December 3rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company's stock. Okta presently has a consensus rating of "Buy" and a consensus price target of $238.84.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Okta by 7.0% during the 2nd quarter. Vanguard Group Inc. now owns 11,072,369 shares of the company's stock worth $2,217,020,000 after purchasing an additional 721,025 shares during the period. Morgan Stanley increased its position in shares of 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 purchasing an additional 395,715 shares in the last quarter. Sands Capital Management LLC boosted its stake in Okta by 1.8% in the 3rd quarter. Sands Capital Management LLC now owns 1,872,524 shares of the company's stock worth $400,439,000 after purchasing an additional 33,457 shares in the last quarter. Hound Partners LLC acquired a new stake in Okta during the 2nd quarter worth about $1,844,000. Finally, Scge Management L.P. raised its stake in shares of Okta by 2.4% in the third quarter. Scge Management L.P. now owns 1,562,019 shares of the company's stock worth $334,038,000 after purchasing an additional 37,019 shares during the last quarter. Hedge funds and other institutional investors own 77.40% of the company's stock.

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