Okta, Inc. (NASDAQ:OKTA) CEO Sells $19,180,534.68 in Stock

Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon sold 233,028 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $82.31, for a total value of $19,180,534.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 Stock Down 1.7 %

Okta stock opened at $81.64 on Friday. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $114.50. The business has a fifty day moving average of $78.29 and a two-hundred day moving average of $83.11. The firm has a market cap of $13.99 billion, a P/E ratio of -233.26, a P/E/G ratio of 8.61 and a beta of 1.00. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Hedge Funds Weigh In On Okta

Several institutional investors and hedge funds have recently added to or reduced their stakes in OKTA. Itau Unibanco Holding S.A. purchased a new position in shares of Okta in the 3rd quarter worth approximately $25,000. Future Financial Wealth Managment LLC purchased a new position in Okta in the third quarter worth $26,000. Blue Trust Inc. increased its position in shares of Okta by 105.5% during the third quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after purchasing an additional 191 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Okta in the 3rd quarter worth $32,000. Finally, nVerses Capital LLC purchased a new position in Okta during the 2nd quarter worth $47,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on OKTA. Westpark Capital reiterated a “buy” rating and set a $140.00 price objective on shares of Okta in a research report on Wednesday, December 4th. JMP Securities reiterated a “market perform” rating on shares of Okta in a research report on Wednesday, December 4th. Stifel Nicolaus upped their price objective on Okta from $108.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Robert W. Baird raised their price objective on Okta from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Finally, Mizuho cut their target price on Okta from $104.00 to $92.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $104.45.

About Okta

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.