Okta Inc (NASDAQ:OKTA) COO Jacques Frederic Kerrest sold 329,553 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $81.81, for a total transaction of $26,960,730.93. Following the completion of the transaction, the chief operating officer now owns 11,213 shares of the company’s stock, valued at approximately $917,335.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Jacques Frederic Kerrest also recently made the following trade(s):

  • On Monday, March 18th, Jacques Frederic Kerrest sold 4,374 shares of Okta stock. The stock was sold at an average price of $82.31, for a total transaction of $360,023.94.
  • On Tuesday, January 22nd, Jacques Frederic Kerrest sold 166,666 shares of Okta stock. The stock was sold at an average price of $76.82, for a total transaction of $12,803,282.12.

Shares of OKTA traded up $3.70 during mid-day trading on Thursday, hitting $85.47. 1,677,299 shares of the company were exchanged, compared to its average volume of 2,039,029. Okta Inc has a 1-year low of $37.26 and a 1-year high of $87.72. The company has a market cap of $9.03 billion, a PE ratio of -82.98 and a beta of 1.20.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Thursday, March 7th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.03. Okta had a negative net margin of 31.43% and a negative return on equity of 44.56%. The firm had revenue of $115.47 million during the quarter, compared to the consensus estimate of $107.94 million. As a group, sell-side analysts expect that Okta Inc will post -1.38 earnings per share for the current year.

A number of research analysts have weighed in on OKTA shares. BidaskClub upgraded shares of Okta from a “hold” rating to a “buy” rating in a research report on Tuesday, November 27th. Berenberg Bank started coverage on shares of Okta in a research report on Thursday, November 29th. They issued a “buy” rating and a $73.00 price objective for the company. Robert W. Baird reiterated a “hold” rating and issued a $65.00 price objective on shares of Okta in a research report on Thursday, December 6th. Guggenheim started coverage on shares of Okta in a research report on Monday, December 10th. They issued a “buy” rating and a $79.00 price objective for the company. Finally, DA Davidson started coverage on shares of Okta in a research report on Tuesday, December 18th. They issued a “neutral” rating and a $62.00 price objective for the company. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $80.61.

Several institutional investors and hedge funds have recently added to or reduced their stakes in OKTA. Kovack Advisors Inc. raised its holdings in Okta by 2.5% in the 4th quarter. Kovack Advisors Inc. now owns 5,107 shares of the company’s stock valued at $326,000 after acquiring an additional 126 shares during the last quarter. First Mercantile Trust Co. raised its holdings in Okta by 1.8% in the 4th quarter. First Mercantile Trust Co. now owns 11,300 shares of the company’s stock valued at $721,000 after acquiring an additional 200 shares during the last quarter. Ausdal Financial Partners Inc. raised its holdings in Okta by 4.3% in the 4th quarter. Ausdal Financial Partners Inc. now owns 4,904 shares of the company’s stock valued at $313,000 after acquiring an additional 201 shares during the last quarter. Hsbc Holdings PLC raised its holdings in Okta by 5.5% in the 4th quarter. Hsbc Holdings PLC now owns 4,640 shares of the company’s stock valued at $296,000 after acquiring an additional 240 shares during the last quarter. Finally, Diversified Trust Co raised its holdings in Okta by 4.7% in the 4th quarter. Diversified Trust Co now owns 9,015 shares of the company’s stock valued at $575,000 after acquiring an additional 405 shares during the last quarter. Hedge funds and other institutional investors own 66.04% of the company’s stock.

TRADEMARK VIOLATION WARNING: This news story was reported by Daily Political and is the sole property of of Daily Political. If you are accessing this news story on another website, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The original version of this news story can be viewed at https://www.dailypolitical.com/2019/03/21/insider-selling-okta-inc-okta-coo-sells-329553-shares-of-stock.html.

About Okta

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.

See Also: What are municipal bonds?

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

Receive News & Ratings for Okta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Okta and related companies with MarketBeat.com's FREE daily email newsletter.