Okta Inc (OKTA) Director Benjamin A. Horowitz Sells 48,897 Shares
Okta Inc (NASDAQ:OKTA) Director Benjamin A. Horowitz sold 48,897 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $106.15, for a total value of $5,190,416.55. Following the transaction, the director now directly owns 11,765 shares of the company’s stock, valued at $1,248,854.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
NASDAQ:OKTA opened at $110.93 on Monday. The company has a market capitalization of $12.45 billion, a price-to-earnings ratio of -107.70 and a beta of 1.32. Okta Inc has a 12-month low of $41.88 and a 12-month high of $111.65.
Okta (NASDAQ:OKTA) last released its quarterly earnings data on Thursday, March 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.03. The firm had revenue of $115.47 million for the quarter, compared to analyst estimates of $107.94 million. Okta had a negative return on equity of 44.56% and a negative net margin of 31.43%. On average, equities research analysts forecast that Okta Inc will post -1.38 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC increased its stake in shares of Okta by 27.5% during the fourth quarter. FMR LLC now owns 9,265,547 shares of the company’s stock worth $591,143,000 after purchasing an additional 1,996,090 shares during the period. Vanguard Group Inc increased its stake in shares of Okta by 1.8% during the third quarter. Vanguard Group Inc now owns 6,891,351 shares of the company’s stock worth $484,875,000 after purchasing an additional 120,687 shares during the period. Morgan Stanley increased its stake in shares of Okta by 124.5% during the first quarter. Morgan Stanley now owns 5,058,288 shares of the company’s stock worth $418,473,000 after purchasing an additional 2,804,898 shares during the period. BlackRock Inc. increased its stake in shares of Okta by 16.4% during the fourth quarter. BlackRock Inc. now owns 4,402,670 shares of the company’s stock worth $280,891,000 after purchasing an additional 618,835 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Okta by 4.2% during the first quarter. First Trust Advisors LP now owns 2,670,948 shares of the company’s stock worth $220,968,000 after purchasing an additional 107,132 shares during the period. Institutional investors own 64.83% 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 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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