Okta, Inc. (NASDAQ:OKTA) CEO Sells $8,801,836.68 in Stock (2024)

Okta, Inc. (NASDAQ:OKTA - Get Free Report) CEO Todd Mckinnon sold 92,729 shares of the firm's stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $94.92, for a total value of $8,801,836.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

  • On Friday, July 19th, Todd Mckinnon sold 179,687 shares of Okta stock. The stock was sold at an average price of $93.42, for a total value of $16,786,359.54.

Okta Stock Performance

OKTA traded up $1.03 during trading hours on Tuesday, hitting $96.05. The stock had a trading volume of 1,121,132 shares, compared to its average volume of 1,850,646. Okta, Inc. has a 1 year low of $65.04 and a 1 year high of $114.50. The company's fifty day simple moving average is $93.36 and its 200 day simple moving average is $93.83. The stock has a market cap of $16.16 billion, a PE ratio of -57.71 and a beta of 1.03. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.19.

  • Okta, Inc. Stock Falls To Critical Level: What Happens Next?

Okta (NASDAQ:OKTA - Get Free Report) last issued its earnings results on Wednesday, May 29th. The company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.40) by $0.27. Okta had a negative net margin of 11.69% and a negative return on equity of 3.81%. The firm had revenue of $617.00 million during the quarter, compared to analyst estimates of $604.33 million. Equities analysts anticipate that Okta, Inc. will post -0.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Susquehanna lowered their target price on Okta from $115.00 to $110.00 and set a "neutral" rating on the stock in a research report on Thursday, May 30th. Needham & Company LLC reaffirmed a "buy" rating and issued a $130.00 price objective on shares of Okta in a research note on Thursday, May 30th. JPMorgan Chase & Co. boosted their target price on shares of Okta from $105.00 to $110.00 and gave the stock a "neutral" rating in a research report on Thursday, May 30th. Guggenheim reaffirmed a "buy" rating and issued a $130.00 price target on shares of Okta in a research report on Tuesday, June 25th. Finally, UBS Group cut their price target on Okta from $130.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, May 30th. Nineteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $105.58.

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  • Okta Raises EPS Forecasts Despite High Profile Security Breaches

View Our Latest Analysis on Okta

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of OKTA. City State Bank lifted its position in shares of Okta by 160.0% during the first quarter. City State Bank now owns 260 shares of the company's stock worth $27,000 after acquiring an additional 160 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Okta by 71.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company's stock valued at $36,000 after purchasing an additional 142 shares during the period. GAMMA Investing LLC purchased a new stake in Okta during the 4th quarter worth about $29,000. Venturi Wealth Management LLC boosted its stake in Okta by 50.4% in the 1st quarter. Venturi Wealth Management LLC now owns 391 shares of the company's stock worth $41,000 after purchasing an additional 131 shares during the period. Finally, Principal Securities Inc. bought a new position in Okta in the 4th quarter worth about $48,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Company Profile

(Get Free Report)

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.

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Okta, Inc. (NASDAQ:OKTA) CEO Sells $8,801,836.68 in Stock (3)

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Okta, Inc. (NASDAQ:OKTA) CEO Sells $8,801,836.68 in Stock (2024)

FAQs

Is OKTA a good stock to buy now? ›

Out of 19 analysts, 5 (26.32%) are recommending OKTA as a Strong Buy, 6 (31.58%) are recommending OKTA as a Buy, 8 (42.11%) are recommending OKTA as a Hold, 0 (0%) are recommending OKTA as a Sell, and 0 (0%) are recommending OKTA as a Strong Sell.

What is the price target for OKTA Nasdaq? ›

The average price target is $114.18 with a high estimate of $135 and a low estimate of $95.

Who are the top shareholders of OKTA? ›

Shareholders: Okta, Inc.
NameEquitiesValuation
The Vanguard Group, Inc. 10.32 %16,606,9301 555 M $
Vanguard Fiduciary Trust Co. 9.847 %15,848,5251 484 M $
Fidelity Management & Research Co. LLC 9.399 %15,127,9941 416 M $
Sands Capital Management LLC 5.616 %9,038,677846 M $
1 more row

Does OKTA make money? ›

Revenue: Total revenue was $510 million , an increase of 33% year-over-year. Subscription revenue was $495 million , an increase of 34% year-over-year.

Is Okta a zombie stock? ›

Of 33 analysts surveyed by FactSet, 20 have an overweight or buy rating, 11 have a hold rating and two have a sell rating for Okta. Business-collaboration software company Atlassian was also added to New Constructs' list of “zombie” stocks recently.

Will Okta stock recover? ›

OKTA Stock 12 Month Forecast

Based on 27 Wall Street analysts offering 12 month price targets for Okta in the last 3 months. The average price target is $114.18 with a high forecast of $135.00 and a low forecast of $95.00. The average price target represents a 37.82% change from the last price of $82.85.

Is OKTA overvalued? ›

Estimated DCF Value of one OKTA stock is 56.51 USD. Compared to the current market price of 86.69 USD, the stock is Overvalued by 35%.

Is OKTA a dividend stock? ›

Okta (NASDAQ: OKTA) does not pay a dividend.

What is the stock price prediction for OKTA in 2025? ›

Okta Stock Prediction 2025

The Okta stock prediction for 2025 is currently $ 113.53, assuming that Okta shares will continue growing at the average yearly rate as they did in the last 10 years. This would represent a 37.55% increase in the OKTA stock price.

Is Okta an Israeli company? ›

(formerly SaaSure Inc.) is an American identity and access management company based in San Francisco. It provides cloud software that helps companies manage and secure user authentication into applications, and for developers to build identity controls into applications, website, web services, and devices.

Is Okta still growing? ›

Okta forecasted fiscal 2025 second-quarter revenue to be between $631 million and $633 million, representing year-over-year growth of 13% to 14% and adjusted EPS of between $0.60 to $0.61. It is looking for its current subscription backlog to grow by 10% to 11% to a range of $1.955 billion to $1.96 billion.

Is Okta a good company? ›

Is Okta a good company to work for? Okta has an overall rating of 3.7 out of 5, based on over 1,384 reviews left anonymously by employees. 67% of employees would recommend working at Okta to a friend and 60% have a positive outlook for the business. This rating has decreased by 2% over the last 12 months.

Is Okta still a good buy? ›

Okta stock was trading near 100 Tuesday afternoon. It's working on a consolidation with a 114.50 buy point, a high it reached in early March. Okta hit a 44.12 low in early November 2022 amid the pandemic market slowdown. It's more than doubled since then, a bullish sign.

Is Okta owned by Google? ›

Okta, the leading independent provider of identity for the enterprise, integrates with multiple Google offerings to secure identities across the Google ecosystem.

Why is Okta so popular? ›

Overall, Okta's popularity for authentication and authorization is driven by how it changed cloud-based IAM for the better––with its ease of use, flexibility and integration features for the diversity of applications used today, and robust security features.

What is the long term forecast for Okta stock? ›

Okta stock prediction for 1 year from now: $ 137.66 (66.78%) Okta stock forecast for 2025: $ 113.53 (37.55%) Okta stock prediction for 2030: $ 558.91 (577.14%)

What is the target price for Okta 12 month? ›

The average one-year price target for Okta, Inc. is $117.85. The forecasts range from a low of $95.95 to a high of $147.00. A stock's price target is the price at which analysts consider it fairly valued with respect to its projected earnings and historical earnings.

What are the disadvantages of Okta? ›

Complexity: Setting up Okta provisioning may require some configuration and customization, especially for complex workflows or user attribute mappings. Cost: Okta is a paid service, and the cost depends on the number of users and features used. ServiceNow LDAP may not have additional costs.

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