Okta Inc (NASDAQ:OKTA) was the recipient of unusually large options trading activity on Tuesday. Investors purchased 12,191 call options on the company. This is an increase of 733% compared to the average volume of 1,464 call options.
A number of equities analysts have weighed in on the stock. Robert W. Baird assumed coverage on shares of Okta in a research report on Wednesday, October 17th. They set a “neutral” rating and a $65.00 price objective for the company. BidaskClub cut shares of Okta from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. Canaccord Genuity upped their price objective on shares of Okta from $60.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, September 7th. Needham & Company LLC upped their price objective on shares of Okta from $58.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, September 7th. Finally, Deutsche Bank upped their price objective on shares of Okta to $75.00 and gave the stock a “buy” rating in a research report on Friday, September 7th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $68.50.
In other Okta news, CFO William E. Losch sold 20,000 shares of the company’s stock in a transaction on Monday, October 22nd. The shares were sold at an average price of $56.92, for a total transaction of $1,138,400.00. Following the completion of the transaction, the chief financial officer now directly owns 20,000 shares in the company, valued at $1,138,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Benjamin A. Horowitz sold 270,465 shares of the company’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $72.66, for a total transaction of $19,651,986.90. Following the transaction, the director now owns 11,765 shares of the company’s stock, valued at $854,844.90. The disclosure for this sale can be found here. Insiders have sold 386,642 shares of company stock worth $26,976,425 over the last three months. 20.59% of the stock is currently owned by insiders.
Shares of NASDAQ OKTA opened at $47.82 on Wednesday. The company has a quick ratio of 2.90, a current ratio of 2.90 and a debt-to-equity ratio of 1.08. Okta has a 52 week low of $24.93 and a 52 week high of $75.49.
Okta (NASDAQ:OKTA) last issued its earnings results on Thursday, September 6th. The company reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.36) by $0.21. The business had revenue of $94.59 million during the quarter, compared to analysts’ expectations of $85.00 million. Okta had a negative net margin of 38.13% and a negative return on equity of 56.91%. The company’s quarterly revenue was up 57.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.16) earnings per share. As a group, analysts anticipate that Okta will post -1.12 EPS for the current year.
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.
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