Okta Inc (NASDAQ:OKTA) Director Benjamin A. Horowitz sold 50,000 shares of the business’s stock in a transaction dated Wednesday, October 14th. The stock was sold at an average price of $244.77, for a total transaction of $12,238,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shares of NASDAQ OKTA opened at $243.95 on Friday. Okta Inc has a 12-month low of $88.66 and a 12-month high of $251.18. The company has a market cap of $31.25 billion, a PE ratio of -128.39 and a beta of 0.97. The stock has a 50 day simple moving average of $214.06 and a 200-day simple moving average of $191.37. The company has a current ratio of 5.07, a quick ratio of 5.07 and a debt-to-equity ratio of 2.47.

Okta (NASDAQ:OKTA) last announced its earnings results on Thursday, August 27th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.09. Okta had a negative return on equity of 35.07% and a negative net margin of 32.93%. The firm had revenue of $200.45 million for the quarter, compared to the consensus estimate of $186.37 million. During the same quarter in the previous year, the business earned ($0.05) EPS. The firm’s revenue for the quarter was up 42.7% on a year-over-year basis. Sell-side analysts forecast that Okta Inc will post -1.48 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hound Partners LLC acquired a new stake in Okta in the second quarter worth about $1,844,000. Vanguard Group Inc. increased its holdings in shares of Okta by 7.0% in the 2nd quarter. Vanguard Group Inc. now owns 11,072,369 shares of the company’s stock valued at $2,217,020,000 after purchasing an additional 721,025 shares during the period. 1832 Asset Management L.P. purchased a new stake in shares of Okta in the first quarter worth approximately $67,392,000. Morgan Stanley boosted its holdings in shares of Okta by 3.7% during the first quarter. Morgan Stanley now owns 11,011,526 shares of the company’s stock worth $1,346,269,000 after purchasing an additional 395,715 shares during the period. Finally, Advisor Group Holdings Inc. acquired a new position in Okta in the 1st quarter valued at approximately $5,493,000. Institutional investors and hedge funds own 77.40% of the company’s stock.

A number of research firms recently commented on OKTA. Guggenheim lifted their price target on Okta from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Truist lifted their target price on Okta from $200.00 to $240.00 in a research report on Friday, August 28th. Mizuho upped their price target on Okta from $245.00 to $255.00 and gave the company a “neutral” rating in a research report on Thursday. BidaskClub raised shares of Okta from a “buy” rating to a “strong-buy” rating in a report on Friday, October 9th. Finally, Royal Bank of Canada boosted their target price on shares of Okta from $235.00 to $255.00 and gave the company an “outperform” rating in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Okta presently has a consensus rating of “Buy” and a consensus target price of $208.60.

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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