Okta Inc (NASDAQ:OKTA) Director Benjamin A. Horowitz sold 48,899 shares of Okta stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $115.77, for a total transaction of $5,661,037.23. Following the completion of the sale, the director now owns 15,735 shares in the company, valued at $1,821,640.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
OKTA stock opened at $98.56 on Friday. Okta Inc has a 12 month low of $41.88 and a 12 month high of $141.85. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average price of $111.48 and a 200 day moving average price of $116.41. The stock has a market cap of $12.26 billion, a PE ratio of -95.69 and a beta of 1.00.
Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, August 28th. The company reported ($0.32) EPS for the quarter, hitting analysts’ consensus estimates of ($0.32). Okta had a negative net margin of 31.90% and a negative return on equity of 53.93%. The firm had revenue of $140.48 million during the quarter, compared to analysts’ expectations of $131.19 million. During the same period in the previous year, the company earned ($0.15) EPS. The firm’s revenue for the quarter was up 48.5% compared to the same quarter last year. Sell-side analysts forecast that Okta Inc will post -1.42 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in OKTA. First Trust Advisors LP boosted its stake in shares of Okta by 4.2% during the 1st 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. Meridian Wealth Management LLC purchased a new position in shares of Okta during the 1st quarter worth about $48,000. Rehmann Capital Advisory Group boosted its stake in shares of Okta by 524.3% during the 1st quarter. Rehmann Capital Advisory Group now owns 5,962 shares of the company’s stock worth $493,000 after purchasing an additional 5,007 shares during the period. B. Riley Wealth Management Inc. purchased a new position in shares of Okta during the 1st quarter worth about $414,000. Finally, Laurel Wealth Advisors Inc. purchased a new position in shares of Okta during the 1st quarter worth about $414,000. 69.26% of the stock is owned by hedge funds and other institutional investors.
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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