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 research analysts recently commented on the company. Zacks Investment Research cut Okta from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. Needham & Company LLC reissued a “buy” rating and set a $105.00 price target (up from $96.00) on shares of Okta in a research report on Thursday, April 4th. SunTrust Banks cut Okta from a “buy” rating to a “hold” rating and increased their price target for the company from $74.00 to $90.00 in a research report on Monday, March 4th. They noted that the move was a valuation call. Canaccord Genuity increased their price target on Okta from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. They noted that the move was a valuation call. Finally, Monness Crespi & Hardt upped their price objective on Okta from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Okta presently has a consensus rating of “Buy” and an average price target of $82.11.

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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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 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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