Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon Sells 233,028 Shares

Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon sold 233,028 shares of Okta stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $82.31, for a total transaction of $19,180,534.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Todd Mckinnon also recently made the following trade(s):

• On Friday, October 18th, Todd Mckinnon sold 224,533 shares of Okta stock. The shares were sold at an average price of $74.62, for a total transaction of $16,754,652.46.

Okta Trading Down 0.2 %

Shares of Okta stock opened at $83.02 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $114.50. The company has a market capitalization of $14.23 billion, a price-to-earnings ratio of -237.20, a PEG ratio of 8.61 and a beta of 1.00. The firm’s 50-day moving average price is $78.16 and its two-hundred day moving average price is $83.20.

Wall Street Analyst Weigh In

OKTA has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft cut Okta from a “buy” rating to a “hold” rating and decreased their price objective for the company from $115.00 to $85.00 in a report on Tuesday, November 12th. Scotiabank increased their price objective on Okta from $92.00 to $96.00 and gave the company a “sector perform” rating in a report on Wednesday, December 4th. JMP Securities restated a “market perform” rating on shares of Okta in a research note on Wednesday, December 4th. JPMorgan Chase & Co. upgraded shares of Okta from a “neutral” rating to an “overweight” rating and set a $100.00 target price for the company in a research note on Monday, December 16th. Finally, Piper Sandler boosted their price target on Okta from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $104.45.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Caprock Group LLC boosted its holdings in shares of Okta by 4.7% in the 2nd quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock valued at $267,000 after purchasing an additional 129 shares in the last quarter. National Bank of Canada FI grew its position in Okta by 11.0% in the second quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock valued at $124,000 after acquiring an additional 130 shares during the last quarter. Bleakley Financial Group LLC grew its position in Okta by 4.6% in the third quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock valued at $306,000 after acquiring an additional 182 shares during the last quarter. Creative Financial Designs Inc. ADV raised its stake in Okta by 12.4% during the third quarter. Creative Financial Designs Inc. ADV now owns 1,704 shares of the company’s stock worth $127,000 after acquiring an additional 188 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in Okta by 105.5% in the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after buying an additional 191 shares in the last quarter. 86.64% of the stock is owned by institutional investors.

Okta Company Profile

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.