Insider Selling: Okta Inc (OKTA) CEO Sells 75,000 Shares of Stock

Okta Inc (NASDAQ:OKTA) CEO Todd Mckinnon sold 75,000 shares of Okta stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $29.67, for a total value of $2,225,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Tuesday, January 2nd, Todd Mckinnon sold 75,000 shares of Okta stock. The shares were sold at an average price of $26.11, for a total value of $1,958,250.00.
  • On Friday, December 1st, Todd Mckinnon sold 57,236 shares of Okta stock. The shares were sold at an average price of $28.77, for a total value of $1,646,679.72.
  • On Monday, December 4th, Todd Mckinnon sold 75,000 shares of Okta stock. The shares were sold at an average price of $28.72, for a total value of $2,154,000.00.

Shares of Okta Inc (NASDAQ OKTA) opened at $28.53 on Tuesday. Okta Inc has a 52 week low of $21.52 and a 52 week high of $33.64. The firm has a market capitalization of $2,910.00 and a PE ratio of -24.81.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, December 6th. The company reported ($0.34) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.05. Okta had a negative return on equity of 169.65% and a negative net margin of 46.70%. analysts forecast that Okta Inc will post -1.48 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. American Century Companies Inc. lifted its holdings in shares of Okta by 87.2% during the fourth quarter. American Century Companies Inc. now owns 41,183 shares of the company’s stock worth $1,055,000 after purchasing an additional 19,182 shares during the period. Rosenblum Silverman Sutton S F Inc. CA acquired a new stake in shares of Okta during the fourth quarter worth about $2,051,000. State Treasurer State of Michigan acquired a new stake in shares of Okta during the fourth quarter worth about $996,000. Kornitzer Capital Management Inc. KS acquired a new stake in shares of Okta during the fourth quarter worth about $5,797,000. Finally, Gilder Gagnon Howe & Co. LLC lifted its holdings in shares of Okta by 2.2% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 761,725 shares of the company’s stock worth $19,508,000 after purchasing an additional 16,694 shares during the period. Institutional investors and hedge funds own 16.63% of the company’s stock.

Several research firms have issued reports on OKTA. KeyCorp reiterated a “buy” rating and issued a $35.00 target price on shares of Okta in a research note on Friday, November 10th. FBN Securities assumed coverage on Okta in a research note on Monday, January 22nd. They set an “outperform” rating and a $35.00 price target on the stock. BidaskClub upgraded Okta from a “sell” rating to a “hold” rating in a research note on Saturday, January 20th. Zacks Investment Research lowered Okta from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, Oppenheimer restated a “buy” rating and set a $34.00 price target on shares of Okta in a research note on Thursday, December 7th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $33.25.

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About Okta

Okta, Inc is a United States-based independent provider of identity for the enterprise. The Company’s Okta Identity Cloud connects and protects employees. It also connects enterprises to their partners, suppliers and customers. The Company offers products, such as Okta information technology (IT) Products and Okta for Developers.

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

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