Stock Traders Purchase Large Volume of Call Options on Okta (OKTA)

Okta Inc (NASDAQ:OKTA) was the recipient of unusually large options trading activity on Friday. Stock investors bought 3,323 call options on the company. This is an increase of approximately 3,223% compared to the typical daily volume of 100 call options.

In other Okta news, COO Jacques Frederic Kerrest sold 6,612 shares of the stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $30.34, for a total transaction of $200,608.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO William E. Losch sold 2,600 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $30.00, for a total transaction of $78,000.00. Following the sale, the chief financial officer now directly owns 2,400 shares in the company, valued at approximately $72,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,005,271 shares of company stock worth $27,938,146.

Several large investors have recently made changes to their positions in the stock. Hamilton Lane Advisors LLC acquired a new stake in shares of Okta in the 4th quarter valued at approximately $13,286,000. Schwab Charles Investment Management Inc. raised its position in shares of Okta by 60.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 38,357 shares of the company’s stock valued at $983,000 after acquiring an additional 14,457 shares during the period. Bank of Montreal Can acquired a new stake in shares of Okta in the 4th quarter valued at approximately $323,000. Glynn Capital Management LLC raised its position in shares of Okta by 3,125.6% in the 4th quarter. Glynn Capital Management LLC now owns 2,343,268 shares of the company’s stock valued at $60,011,000 after acquiring an additional 2,270,623 shares during the period. Finally, Jane Street Group LLC acquired a new stake in shares of Okta in the 3rd quarter valued at approximately $247,000. Institutional investors and hedge funds own 13.41% of the company’s stock.

Okta (OKTA) opened at $29.18 on Monday. Okta has a 52-week low of $21.52 and a 52-week high of $33.64.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, December 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.05. Okta had a negative net margin of 46.70% and a negative return on equity of 169.65%. equities analysts expect that Okta will post -0.86 earnings per share for the current year.

A number of research analysts have issued reports on the stock. KeyCorp restated a “buy” rating and set a $35.00 target price on shares of Okta in a research report on Friday, November 10th. BidaskClub upgraded shares of Okta from a “sell” rating to a “hold” rating in a research report on Saturday. Zacks Investment Research downgraded shares of Okta from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Oppenheimer restated a “buy” rating and set a $34.00 target price on shares of Okta in a research report on Thursday, December 7th. Finally, SunTrust Banks assumed coverage on shares of Okta in a research report on Friday, October 27th. They set a “buy” rating and a $36.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $33.00.

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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.

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