Okta, Inc. (OKTA) General Counsel Jonathan T. Runyan Sells 64,396 Shares
Okta, Inc. (NASDAQ:OKTA) General Counsel Jonathan T. Runyan sold 64,396 shares of Okta stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $29.00, for a total value of $1,867,484.00. Following the sale, the general counsel now directly owns 19,366 shares in the company, valued at approximately $561,614. The sale was disclosed in a document filed with the SEC, which is available at this link.
Okta (NASDAQ:OKTA) last announced its earnings results on Thursday, September 7th. The company reported ($0.29) earnings per share 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 business’s revenue for the quarter was up 63.1% on a year-over-year basis.
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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP bought a new position in shares of Okta during the second quarter worth approximately $101,000. CI Investments Inc. bought a new position in Okta during the 2nd quarter worth $171,000. Paulson & CO. Inc. bought a new position in Okta during the 2nd quarter worth $171,000. American Century Companies Inc. bought a new position in Okta during the 2nd quarter worth $201,000. Finally, Pacad Investment Ltd. bought a new position in Okta during the 2nd quarter worth $207,000. Institutional investors own 13.00% of the company’s stock.
Several analysts have recently weighed in on the company. KeyCorp reissued a “buy” rating on shares of Okta in a report on Friday, September 1st. Zacks Investment Research lowered Okta from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Oppenheimer Holdings, Inc. assumed coverage on Okta in a report on Tuesday, October 10th. They set an “outperform” rating and a $32.00 price objective on the stock. Canaccord Genuity lifted 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. Finally, SunTrust Banks, Inc. assumed coverage on Okta in a report on Friday, October 27th. They set a “buy” rating and a $36.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $32.71.
Okta Company Profile
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.
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