Okta Inc (NASDAQ:OKTA) CFO William E. Losch sold 20,400 shares of the firm’s stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Okta Inc (NASDAQ OKTA) traded down $0.80 during trading hours on Wednesday, reaching $39.70. 2,210,000 shares of the company traded hands, compared to its average volume of 1,860,000. The company has a market capitalization of $4,050.00 and a PE ratio of -33.36. Okta Inc has a twelve month low of $21.52 and a twelve month high of $42.88.
Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, March 7th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.05. The business had revenue of $77.80 million for the quarter, compared to analysts’ expectations of $76.77 million. Okta had a negative net margin of 43.99% and a negative return on equity of 66.09%. The company’s revenue for the quarter was up 59.4% on a year-over-year basis. sell-side analysts forecast that Okta Inc will post -1.42 EPS for the current year.
Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Okta to $50.00 and gave the stock an “overweight” rating in a report on Thursday, March 8th. Deutsche Bank raised their target price on shares of Okta from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, March 8th. Canaccord Genuity lifted their price target on shares of Okta from $28.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, March 8th. SunTrust Banks lifted their price target on shares of Okta to $45.00 and gave the company a “buy” rating in a report on Thursday, March 8th. Finally, Needham & Company LLC lifted their price target on shares of Okta from $38.00 to $50.00 and gave the company 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 issued a strong buy rating to the company’s stock. Okta presently has an average rating of “Buy” and a consensus price target of $41.45.
A number of large investors have recently added to or reduced their stakes in the stock. Alkeon Capital Management LLC purchased a new position in Okta during the fourth quarter valued at $640,000. MetLife Investment Advisors LLC purchased a new position in Okta during the fourth quarter valued at $423,000. Metropolitan Life Insurance Co. NY lifted its position in Okta by 92.3% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 20,716 shares of the company’s stock valued at $531,000 after buying an additional 9,946 shares during the period. PEAK6 Investments L.P. lifted its position in Okta by 476.7% during the fourth quarter. PEAK6 Investments L.P. now owns 38,699 shares of the company’s stock valued at $991,000 after buying an additional 31,988 shares during the period. Finally, Millennium Management LLC purchased a new position in Okta during the fourth quarter valued at $11,179,000. Institutional investors and hedge funds own 39.10% of the company’s stock.
Okta, Inc is a United States-based independent provider of identity for the enterprise. The Company’s Okta Identity Cloud connects and protects employees. It also connects enterprises to their partners, suppliers and customers. The Company offers products, such as Okta information technology (IT) Products and Okta for Developers.
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