Okta (NASDAQ:OKTA) CFO William E. Losch sold 15,000 shares of the business’s stock in a transaction on Monday, April 16th. The shares were sold at an average price of $40.56, for a total transaction of $608,400.00. Following the sale, the chief financial officer now owns 15,000 shares of the company’s stock, valued at $608,400. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
NASDAQ:OKTA opened at $41.56 on Wednesday. The firm has a market capitalization of $4,247.99 and a PE ratio of -30.34. Okta has a one year low of $21.52 and a one year high of $42.88.
Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Wednesday, March 7th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.05. The firm had revenue of $77.80 million during the quarter, compared to analyst estimates of $76.77 million. Okta had a negative return on equity of 65.56% and a negative net margin of 43.99%. Okta’s revenue for the quarter was up 59.4% compared to the same quarter last year. research analysts anticipate that Okta will post -1.3 earnings per share for the current fiscal year.
OKTA has been the subject of a number of research reports. BidaskClub lowered shares of Okta from a “hold” rating to a “sell” rating in a research note on Thursday, December 21st. FBN Securities initiated coverage on shares of Okta in a research note on Monday, January 22nd. They set an “outperform” rating and a $35.00 target price for the company. Needham & Company LLC initiated coverage on shares of Okta in a research note on Wednesday, February 14th. They set a “buy” rating and a $38.00 target price for the company. Oppenheimer boosted their target price on shares of Okta from $34.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, February 21st. Finally, KeyCorp reiterated a “positive” rating and set a $43.00 target price (up from $35.00) on shares of Okta in a research note on Thursday, February 22nd. Four equities research 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. Okta currently has an average rating of “Buy” and a consensus target price of $42.09.
Several large investors have recently bought and sold shares of OKTA. Bank of New York Mellon Corp increased its stake in shares of Okta by 145.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 83,528 shares of the company’s stock worth $2,357,000 after purchasing an additional 49,477 shares in the last quarter. SG Americas Securities LLC bought a new position in Okta in the 3rd quarter worth $128,000. Ameriprise Financial Inc. boosted its holdings in Okta by 17.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 325,715 shares of the company’s stock worth $9,189,000 after buying an additional 47,542 shares during the period. Wells Fargo & Company MN boosted its holdings in Okta by 32.3% in the 3rd quarter. Wells Fargo & Company MN now owns 14,013 shares of the company’s stock worth $395,000 after buying an additional 3,421 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Okta by 30.6% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 23,900 shares of the company’s stock worth $675,000 after buying an additional 5,600 shares during the period. Hedge funds and other institutional investors own 38.05% of the company’s stock.
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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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