Insider Selling: Okta, Inc. (OKTA) General Counsel Sells 300,000 Shares of Stock
Okta, Inc. (NASDAQ:OKTA) General Counsel Jonathan T. Runyan sold 300,000 shares of the business’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $27.03, for a total value of $8,109,000.00. The sale was disclosed in a filing with the SEC, which is available through this link.
Shares of Okta, Inc. (OKTA) traded up 0.86% during mid-day trading on Friday, reaching $27.99. The company’s stock had a trading volume of 1,448,188 shares. The firm’s market cap is $539.14 million. Okta, Inc. has a 12 month low of $21.52 and a 12 month high of $33.64. The company has a 50-day moving average of $27.50 and a 200-day moving average of $24.95.
Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Thursday, September 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.03). The firm had revenue of $61.00 million during the quarter, compared to the consensus estimate of $55.90 million. The firm’s quarterly revenue was up 63.1% compared to the same quarter last year. On average, analysts predict that Okta, Inc. will post ($0.96) earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of OKTA. Glynn Capital Management LLC bought a new position in shares of Okta during the second quarter worth about $45,855,000. FMR LLC bought a new position in shares of Okta during the second quarter worth about $23,135,000. Gilder Gagnon Howe & Co. LLC bought a new position in shares of Okta during the second quarter worth about $23,054,000. JPMorgan Chase & Co. bought a new position in shares of Okta during the second quarter worth about $21,855,000. Finally, Vanguard Group Inc. bought a new position in shares of Okta during the second quarter worth about $21,749,000. Institutional investors own 15.03% of the company’s stock.
Several brokerages have weighed in on OKTA. William Blair began coverage on Okta in a report on Wednesday. They set an “outperform” rating for the company. Zacks Investment Research raised Okta from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a report on Wednesday, September 20th. KeyCorp reissued a “buy” rating on shares of Okta in a report on Friday, September 1st. Finally, Canaccord Genuity boosted their price objective on Okta from $27.00 to $28.00 and gave the stock a “hold” rating in a report on Friday, September 8th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $32.20.
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.
Receive News & Ratings for Okta Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Okta Inc. and related companies with MarketBeat.com's FREE daily email newsletter.