Jonathan T. Runyan Sells 46,876 Shares of Okta Inc (NASDAQ:OKTA) Stock

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Okta Inc (NASDAQ:OKTA) General Counsel Jonathan T. Runyan sold 46,876 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $127.88, for a total transaction of $5,994,502.88. Following the completion of the sale, the general counsel now directly owns 46,876 shares of the company’s stock, valued at approximately $5,994,502.88. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Jonathan T. Runyan also recently made the following trade(s):

  • On Wednesday, June 19th, Jonathan T. Runyan sold 3,329 shares of Okta stock. The shares were sold at an average price of $129.77, for a total transaction of $432,004.33.

Shares of OKTA opened at $136.61 on Friday. The stock has a market cap of $15.28 billion, a PE ratio of -132.63 and a beta of 1.02. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.61. The firm’s fifty day moving average price is $123.02. Okta Inc has a twelve month low of $41.88 and a twelve month high of $137.80.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Thursday, May 30th. The company reported ($0.39) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.01. The business had revenue of $125.20 million during the quarter, compared to analysts’ expectations of $116.83 million. Okta had a negative net margin of 34.37% and a negative return on equity of 53.36%. The firm’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.09) EPS. On average, analysts predict that Okta Inc will post -1.35 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the company. Valeo Financial Advisors LLC lifted its position in shares of Okta by 122.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 238 shares of the company’s stock worth $29,000 after purchasing an additional 131 shares during the period. Truewealth LLC bought a new position in Okta in the second quarter worth about $33,000. Meridian Wealth Management LLC bought a new position in Okta in the first quarter worth about $48,000. Optimum Investment Advisors bought a new position in Okta in the first quarter worth about $50,000. Finally, Tortoise Index Solutions LLC bought a new position in Okta in the first quarter worth about $55,000. 77.87% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on OKTA. JPMorgan Chase & Co. cut their price objective on shares of GAP from $24.00 to $17.00 and set an “underweight” rating for the company in a research note on Friday, May 31st. BidaskClub cut shares of Walgreens Boots Alliance from a “sell” rating to a “strong sell” rating in a research report on Monday, June 24th. Deutsche Bank reissued a “buy” rating and set a GBX 430 ($5.62) price target on shares of in a research report on Friday, June 21st. Goldman Sachs Group set a €137.00 ($159.30) price target on shares of Safran and gave the company a “buy” rating in a research report on Monday, March 18th. Finally, Zacks Investment Research raised shares of First Industrial Realty Trust from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research report on Wednesday, June 5th. Eight equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $100.28.

About Okta

Okta, Inc provides identity solutions for enterprises, small and medium-sized businesses, universities, non-profits, and government agencies in the United States and internationally. The company offers Okta Identity Cloud, a platform that offers a suite of products to manage and secure identities, such as Universal Directory, a cloud-based system of record to store and secure user, application, and device profiles for an organization; Single Sign-On that enables users to access their applications in the cloud or on-premise from various devices with a single entry of their user credentials; Adaptive Multi-Factor Authentication, a product that provides an additional layer of security for cloud, mobile, and Web applications, as well as for data; Lifecycle Management, which enables IT organizations or developers to manage a user's identity throughout its lifecycle; and API Access Management that enables organizations to secure APIs.It also offers customer support and training, and professional services.

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