Charles Race Sells 50,000 Shares of Okta Inc (NASDAQ:OKTA) Stock

Okta Inc (NASDAQ:OKTA) insider Charles Race sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $133.19, for a total transaction of $6,659,500.00. Following the completion of the sale, the insider now owns 59,753 shares in the company, valued at approximately $7,958,502.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Charles Race also recently made the following trade(s):

  • On Friday, July 12th, Charles Race sold 50,000 shares of Okta stock. The stock was sold at an average price of $134.27, for a total transaction of $6,713,500.00.

OKTA stock opened at $127.36 on Friday. The firm has a market cap of $14.90 billion, a price-to-earnings ratio of -123.65 and a beta of 1.01. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.61. Okta Inc has a 12-month low of $41.88 and a 12-month high of $141.85. The company’s fifty day simple moving average is $132.23 and its 200 day simple moving average is $106.48.

Okta (NASDAQ:OKTA) last released its earnings results on Thursday, May 30th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.01. The business had revenue of $125.20 million for the quarter, compared to analyst estimates of $116.83 million. Okta had a negative net margin of 34.37% and a negative return on equity of 53.36%. Okta’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.09) earnings per share. Research analysts expect that Okta Inc will post -1.35 earnings per share for the current year.

A number of brokerages have recently commented on OKTA. Canaccord Genuity lifted their price target on shares of Okta from $95.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, May 31st. SunTrust Banks lifted their price target on shares of Okta to $110.00 and gave the stock a “hold” rating in a report on Friday, May 31st. BidaskClub upgraded shares of Okta from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 18th. BMO Capital Markets began coverage on shares of Okta in a report on Thursday, August 1st. They set a “market perform” rating and a $155.00 price target on the stock. Finally, ValuEngine lowered shares of Okta from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Ten equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $104.05.

Hedge funds have recently added to or reduced their stakes in the stock. Lindbrook Capital LLC lifted its holdings in Okta by 76.9% in the second quarter. Lindbrook Capital LLC now owns 230 shares of the company’s stock valued at $28,000 after buying an additional 100 shares during the period. Valeo Financial Advisors LLC lifted its holdings in Okta by 122.4% in the second quarter. Valeo Financial Advisors LLC now owns 238 shares of the company’s stock valued at $29,000 after buying an additional 131 shares during the period. Focused Wealth Management Inc acquired a new position in Okta in the second quarter valued at $30,000. Truewealth LLC acquired a new position in Okta in the second quarter valued at $33,000. Finally, CSat Investment Advisory L.P. acquired a new position in Okta in the second quarter valued at $34,000. Institutional investors and hedge funds own 78.78% of the company’s stock.

Okta Company Profile

Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.

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Insider Buying and Selling by Quarter for Okta (NASDAQ:OKTA)

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