Okta Inc (NASDAQ:OKTA) CFO William E. Losch sold 20,400 shares of the firm’s stock in a transaction on Monday, March 12th. The shares were sold at an average price of $39.60, for a total value of $807,840.00. Following the transaction, the chief financial officer now directly owns 20,400 shares of the company’s stock, valued at approximately $807,840. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Okta Inc (OKTA) traded down $0.80 on Wednesday, hitting $39.70. The stock had a trading volume of 2,210,000 shares, compared to its average volume of 1,860,000. The stock has a market cap of $4,050.00 and a price-to-earnings ratio of -33.36. Okta Inc has a 12-month low of $21.52 and a 12-month high of $42.88.

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Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Wednesday, March 7th. The company reported ($0.10) earnings per share (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 66.09% and a negative net margin of 43.99%. The company’s quarterly revenue was up 59.4% on a year-over-year basis. sell-side analysts anticipate that Okta Inc will post -1.42 EPS for the current fiscal year.

Several equities analysts have commented on OKTA shares. JPMorgan Chase & Co. raised their price objective on Okta to $50.00 and gave the company an “overweight” rating in a research report on Thursday, March 8th. Oppenheimer raised their price objective on Okta from $34.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, February 21st. BidaskClub lowered Okta from a “buy” rating to a “hold” rating in a research report on Tuesday, December 5th. FBN Securities started coverage on Okta in a research report on Monday, January 22nd. They set an “outperform” rating and a $35.00 price objective for the company. Finally, Deutsche Bank started coverage on Okta in a research report on Friday, February 23rd. They set a “buy” rating and a $43.00 price objective for the company. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Okta presently has an average rating of “Buy” and a consensus price target of $41.45.

Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Okta in the 3rd quarter worth about $128,000. Hershey Trust Co. purchased a new position in shares of Okta in the 4th quarter worth about $195,000. Invictus RG purchased a new position in shares of Okta in the 3rd quarter worth about $211,000. The Manufacturers Life Insurance Company purchased a new position in shares of Okta in the 2nd quarter worth about $219,000. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of Okta in the 4th quarter worth about $239,000. 39.10% of the stock is owned by hedge funds and other institutional investors.

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Okta Company Profile

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.

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

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