Okta, Inc. (NASDAQ:OKTA) CFO Brett Tighe Sells 10,000 Shares of Stock

Okta, Inc. (NASDAQ:OKTA) CFO Brett Tighe sold 10,000 shares of the stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the transaction, the chief financial officer owned 132,288 shares of the company’s stock, valued at approximately $12,567,360. This trade represents a 7.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Okta Stock Performance

Okta stock opened at $95.86 on Tuesday. The stock has a 50 day moving average of $105.12 and a 200-day moving average of $101.55. Okta, Inc. has a 52 week low of $70.56 and a 52 week high of $127.57. The stock has a market cap of $16.78 billion, a P/E ratio of 152.16, a price-to-earnings-growth ratio of 4.62 and a beta of 0.82. 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 (NASDAQ:OKTA) last issued its quarterly earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.09. The firm had revenue of $688.00 million for the quarter, compared to analysts’ expectations of $680.14 million. Okta had a return on equity of 2.79% and a net margin of 4.85%. Okta’s revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the business posted $0.65 EPS. On average, analysts expect that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Institutional Trading of Okta

A number of large investors have recently bought and sold shares of the stock. Wolff Wiese Magana LLC raised its position in shares of Okta by 167.4% during the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company’s stock worth $26,000 after purchasing an additional 154 shares during the period. Pinnacle Bancorp Inc. bought a new stake in shares of Okta during the 2nd quarter valued at $26,000. Wayfinding Financial LLC bought a new stake in shares of Okta during the 1st quarter valued at $27,000. Harbour Investments Inc. raised its holdings in shares of Okta by 152.4% during the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock worth $27,000 after buying an additional 157 shares in the last quarter. Finally, Rossby Financial LCC acquired a new position in shares of Okta during the 1st quarter worth $31,000. 86.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

OKTA has been the topic of several analyst reports. The Goldman Sachs Group boosted their price target on shares of Okta from $123.00 to $137.00 and gave the stock a “buy” rating in a report on Wednesday, May 28th. BMO Capital Markets set a $132.00 target price on shares of Okta and gave the stock a “market perform” rating in a report on Wednesday, May 28th. Mizuho cut their price objective on shares of Okta from $135.00 to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 28th. DA Davidson cut their price objective on shares of Okta from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, May 28th. Finally, Stephens reiterated an “equal weight” rating and set a $127.00 target price on shares of Okta in a research report on Tuesday, May 27th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, Okta currently has an average rating of “Hold” and an average target price of $119.44.

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.