Benjamin A. Horowitz Sells 48,897 Shares of Okta Inc (NASDAQ:OKTA) Stock

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Okta Inc (NASDAQ:OKTA) Director Benjamin A. Horowitz sold 48,897 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $127.12, for a total transaction of $6,215,786.64. Following the transaction, the director now owns 15,735 shares of the company’s stock, valued at $2,000,233.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

OKTA traded down $2.34 on Monday, reaching $125.84. The stock had a trading volume of 1,404,616 shares, compared to its average volume of 2,049,617. 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 0.61. The business’s 50-day moving average price is $132.36 and its two-hundred day moving average price is $106.59. The company has a market cap of $14.49 billion, a P/E ratio of -122.17 and a beta of 1.01.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Thursday, May 30th. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. The company had revenue of $125.20 million during the quarter, compared to analysts’ expectations of $116.83 million. Okta had a negative net margin of 34.37% and a negative return on equity of 53.36%. The firm’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.09) earnings per share. As a group, analysts predict that Okta Inc will post -1.35 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in OKTA. Griffin Asset Management Inc. purchased a new stake in Okta during the 2nd quarter valued at about $45,000. Harvest Fund Management Co. Ltd grew its stake in Okta by 18.9% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 2,505 shares of the company’s stock valued at $309,000 after acquiring an additional 398 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in Okta by 31.5% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 100,008 shares of the company’s stock valued at $12,352,000 after acquiring an additional 23,930 shares in the last quarter. HM Payson & Co. purchased a new stake in Okta during the 2nd quarter valued at about $836,000. Finally, Amundi Pioneer Asset Management Inc. grew its stake in Okta by 172.7% during the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 54,262 shares of the company’s stock valued at $6,702,000 after acquiring an additional 34,362 shares in the last quarter. 69.56% of the stock is owned by institutional investors and hedge funds.

OKTA has been the subject of a number of research reports. SunTrust Banks boosted their target price on shares of Okta to $110.00 and gave the company a “hold” rating in a research report on Friday, May 31st. Monness Crespi & Hardt downgraded shares of Okta from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 28th. ValuEngine downgraded shares of Okta from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Canaccord Genuity boosted their target price on shares of Okta from $95.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, Oppenheimer boosted their target price on shares of Okta from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. Ten analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $104.05.

About Okta

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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Insider Buying and Selling by Quarter for Okta (NASDAQ:OKTA)

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