Larissa Schwartz Sells 2,244 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 2,244 shares of the firm’s stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $100.00, for a total transaction of $224,400.00. Following the sale, the insider now directly owns 23,640 shares in the company, valued at $2,364,000. This represents a 8.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Larissa Schwartz also recently made the following trade(s):

• On Tuesday, June 17th, Larissa Schwartz sold 1,105 shares of Okta stock. The stock was sold at an average price of $98.50, for a total transaction of $108,842.50.

Okta Price Performance

Shares of OKTA stock opened at $99.42 on Friday. The company has a market capitalization of $17.41 billion, a PE ratio of 157.81, a price-to-earnings-growth ratio of 4.81 and a beta of 0.84. The firm has a fifty day simple moving average of $109.19 and a 200-day simple moving average of $99.49. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.05. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $127.57.

Okta (NASDAQ:OKTA) last announced its earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.09. The business had revenue of $688.00 million during the quarter, compared to the consensus estimate of $680.14 million. Okta had a net margin of 4.85% and a return on equity of 2.79%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 earnings per share. Equities research analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Wolff Wiese Magana LLC boosted its stake in shares of Okta by 167.4% in the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company’s stock valued at $26,000 after purchasing an additional 154 shares during the period. Wayfinding Financial LLC bought a new position in Okta during the 1st quarter valued at $27,000. Harbour Investments Inc. boosted its stake in Okta by 152.4% during the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock valued at $27,000 after acquiring an additional 157 shares during the last quarter. Rossby Financial LCC bought a new position in Okta during the 1st quarter valued at $31,000. Finally, Bank of Jackson Hole Trust bought a new position in Okta during the 4th quarter valued at $25,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Truist Financial raised their price target on shares of Okta from $92.00 to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, March 4th. JMP Securities restated a “market perform” rating on shares of Okta in a report on Wednesday, May 28th. Robert W. Baird boosted their target price on shares of Okta from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, March 4th. The Goldman Sachs Group boosted their target price on shares of Okta from $123.00 to $137.00 and gave the company a “buy” rating in a report on Wednesday, May 28th. Finally, Roth Capital restated a “buy” rating and issued a $119.00 target price on shares of Okta in a report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, Okta presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.59.

About Okta

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.