Okta (NASDAQ:OKTA) CFO William E. Losch sold 20,400 shares of the company’s stock in a transaction dated Monday, March 12th. The stock was sold at an average price of $39.60, for a total transaction of $807,840.00. Following the completion of the transaction, the chief financial officer now owns 20,400 shares in the company, valued at approximately $807,840. The sale was disclosed in a legal filing with the SEC, which is available through this link.
OKTA traded down $0.34 during trading on Friday, reaching $38.64. The company had a trading volume of 806,533 shares, compared to its average volume of 2,427,304. The company has a market cap of $4,079.49 and a PE ratio of -28.20. Okta has a 52 week low of $21.52 and a 52 week high of $42.88.
Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, March 7th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.05. Okta had a negative return on equity of 65.56% and a negative net margin of 43.99%. The business had revenue of $77.80 million for the quarter, compared to analyst estimates of $76.77 million. The company’s revenue was up 59.4% on a year-over-year basis. sell-side analysts anticipate that Okta will post -1.3 EPS for the current year.
Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in shares of Okta by 5.4% during the third quarter. JPMorgan Chase & Co. now owns 1,010,369 shares of the company’s stock valued at $29,291,000 after buying an additional 51,761 shares during the period. Trustees of Princeton University bought a new stake in Okta during the fourth quarter valued at about $8,067,000. Brown Advisory Inc. bought a new stake in Okta during the fourth quarter valued at about $3,397,000. Gilder Gagnon Howe & Co. LLC boosted its position in Okta by 2.2% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 761,725 shares of the company’s stock valued at $19,508,000 after purchasing an additional 16,694 shares in the last quarter. Finally, Hamilton Lane Advisors LLC bought a new stake in Okta during the fourth quarter valued at about $13,286,000. Hedge funds and other institutional investors own 38.06% of the company’s stock.
A number of equities analysts have weighed in on the company. JPMorgan Chase boosted their target price on Okta to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, March 8th. Deutsche Bank upped their price target on shares of Okta from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, March 8th. Canaccord Genuity upped their price target on shares of Okta from $28.00 to $36.00 and gave the company a “hold” rating in a research report on Thursday, March 8th. SunTrust Banks upped their price target on shares of Okta to $45.00 and gave the company a “buy” rating in a research report on Thursday, March 8th. Finally, Needham & Company LLC increased their target price on shares of Okta from $38.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, March 8th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $42.09.
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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 Web and mobile applications, and data of organization; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; and Mobility Management, which simplifies and automates mobile device administration and provisioning across phones, tablets, and laptops.
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