Okta Inc (OKTA) Director Sells $3,405,319.43 in Stock
Okta Inc (NASDAQ:OKTA) Director Benjamin A. Horowitz sold 35,669 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $95.47, for a total value of $3,405,319.43. Following the completion of the sale, the director now owns 11,765 shares of the company’s stock, valued at $1,123,204.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
NASDAQ OKTA traded down $2.02 on Wednesday, hitting $92.20. 2,113,800 shares of the company’s stock were exchanged, compared to its average volume of 2,057,881. Okta Inc has a 52 week low of $40.24 and a 52 week high of $97.24. The stock has a market capitalization of $10.44 billion, a PE ratio of -89.51 and a beta of 1.16.
Okta (NASDAQ:OKTA) last released its 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 return on equity of 44.56% and a negative net margin of 31.43%. The firm had revenue of $115.47 million during the quarter, compared to analysts’ expectations of $107.94 million. On average, equities research analysts expect that Okta Inc will post -1.38 earnings per share for the current year.
Several brokerages recently issued reports on OKTA. Mizuho began coverage on Okta in a research note on Tuesday, March 26th. They issued a “neutral” rating and a $85.00 price target for the company. Monness Crespi & Hardt boosted their price target on Okta from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Robert W. Baird reiterated a “hold” rating on shares of Okta in a research note on Friday, March 8th. Morgan Stanley began coverage on Okta in a research note on Monday, February 4th. They issued an “equal weight” rating and a $85.00 price target for the company. Finally, DA Davidson began coverage on Okta in a research note on Tuesday, December 18th. They issued a “neutral” rating and a $62.00 price target for the company. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $82.11.
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Okta Company Profile
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 cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.
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