Jacques Frederic Kerrest Sells 423 Shares of Okta, Inc. (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA – Get Rating) Director Jacques Frederic Kerrest sold 423 shares of Okta stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $82.48, for a total transaction of $34,889.04. Following the transaction, the director now owns 701 shares of the company’s stock, valued at $57,818.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Okta Trading Down 0.6 %

OKTA opened at $83.83 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.30 and a current ratio of 2.20. Okta, Inc. has a fifty-two week low of $44.12 and a fifty-two week high of $176.18. The firm’s fifty day moving average is $75.02 and its 200 day moving average is $64.58.

Okta (NASDAQ:OKTA – Get Rating) last released its earnings results on Wednesday, March 1st. The company reported ($0.70) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.11. Okta had a negative net margin of 43.87% and a negative return on equity of 12.53%. The company had revenue of $510.00 million for the quarter, compared to analysts’ expectations of $488.99 million. Research analysts forecast that Okta, Inc. will post -3.08 EPS for the current fiscal year.

Analysts Set New Price Targets

OKTA has been the subject of several analyst reports. DA Davidson raised their price target on shares of Okta from $60.00 to $80.00 in a research report on Thursday, March 2nd. Canaccord Genuity Group raised their price target on shares of Okta from $70.00 to $85.00 and gave the company a “hold” rating in a research report on Thursday, March 2nd. Stifel Nicolaus raised their price target on shares of Okta from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, March 2nd. Moffett Nathanson raised their price target on shares of Okta from $71.00 to $85.00 and gave the company an “underperform” rating in a research report on Thursday, March 2nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Okta from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, March 2nd. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $85.32.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Synovus Financial Corp lifted its stake in shares of Okta by 1.5% during the 2nd quarter. Synovus Financial Corp now owns 6,978 shares of the company’s stock valued at $631,000 after buying an additional 103 shares in the last quarter. Nissay Asset Management Corp Japan ADV lifted its stake in shares of Okta by 0.7% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 18,281 shares of the company’s stock valued at $1,249,000 after buying an additional 136 shares in the last quarter. Captrust Financial Advisors lifted its stake in Okta by 2.4% in the 2nd quarter. Captrust Financial Advisors now owns 5,953 shares of the company’s stock worth $538,000 after purchasing an additional 137 shares in the last quarter. Sunbelt Securities Inc. lifted its stake in Okta by 4.0% in the 4th quarter. Sunbelt Securities Inc. now owns 3,928 shares of the company’s stock worth $268,000 after purchasing an additional 151 shares in the last quarter. Finally, Toroso Investments LLC lifted its stake in Okta by 10.1% in the 1st quarter. Toroso Investments LLC now owns 1,717 shares of the company’s stock worth $259,000 after purchasing an additional 157 shares in the last quarter. Hedge funds and other institutional investors own 73.02% of the company’s stock.

Okta Company Profile

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Okta, Inc engages in the provision of an identity management platform for enterprises. It operates through the United States and International geographical segments. The firm’s products include single sign-on, multi-factor authentication, API access management, authentication, user management, and lifecycle management.