Okta Inc (NASDAQ:OKTA) CFO William E. Losch sold 15,000 shares of Okta stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $55.31, for a total transaction of $829,650.00. Following the completion of the sale, the chief financial officer now owns 15,000 shares in the company, valued at $829,650. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

OKTA stock opened at $55.23 on Friday. Okta Inc has a 52 week low of $23.91 and a 52 week high of $61.00. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of -40.31 and a beta of -1.03. The company has a debt-to-equity ratio of 1.04, a quick ratio of 3.14 and a current ratio of 3.13.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, June 6th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.07. Okta had a negative net margin of 38.34% and a negative return on equity of 59.95%. The company had revenue of $83.62 million for the quarter, compared to the consensus estimate of $78.81 million. During the same period in the previous year, the firm earned ($0.50) EPS. Okta’s revenue was up 59.8% on a year-over-year basis. research analysts expect that Okta Inc will post -1.21 EPS for the current year.

Several analysts recently weighed in on the stock. Needham & Company LLC downgraded shares of Okta from a “buy” rating to a “hold” rating and cut their price objective for the company from $47.06 to $38.00 in a research report on Tuesday, June 5th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Okta from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research report on Wednesday, July 18th. Oppenheimer lifted their price objective on shares of Okta from $51.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday, June 7th. Monness Crespi & Hardt lifted their price objective on shares of Okta from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, June 7th. Finally, BidaskClub downgraded shares of Okta from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 7th. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. Okta has a consensus rating of “Buy” and a consensus price target of $57.58.

Several hedge funds have recently added to or reduced their stakes in OKTA. Wells Fargo & Company MN raised its position in shares of Okta by 362.9% during the 4th quarter. Wells Fargo & Company MN now owns 64,872 shares of the company’s stock worth $1,660,000 after buying an additional 50,859 shares in the last quarter. Raymond James & Associates bought a new stake in shares of Okta during the 4th quarter worth about $601,000. Teachers Advisors LLC raised its position in shares of Okta by 71.0% during the 4th quarter. Teachers Advisors LLC now owns 34,271 shares of the company’s stock worth $878,000 after buying an additional 14,226 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Okta by 35.5% during the 4th quarter. TIAA CREF Investment Management LLC now owns 41,721 shares of the company’s stock worth $1,068,000 after buying an additional 10,941 shares in the last quarter. Finally, MetLife Investment Advisors LLC bought a new stake in shares of Okta during the 4th quarter worth about $423,000. Institutional investors own 57.60% of the company’s stock.

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 Web and mobile applications, and data of organization; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; API Access Management that enables organizations to secure APIs; and Mobility Management, which simplifies and automates mobile device administration and provisioning across phones, tablets, and laptops.

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