Okta Inc. (NASDAQ: OKTA) is 90.50% higher on its value in year-to-date trading and has touched a low of $88.66 and a high of $219.99 in the current 52-week trading range. The OKTA stock was last observed hovering at around $219.78 in the recent trading session, with the current gains setting it 0.42% off its average median price target of $200.00 for the next 12 months. It is also 6.69% off the consensus price target high of $236.00 offered by 23 analysts, but current levels are -27.28% lower than the price target low of $173.00 for the same period.
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At last check, trading at $220.20, the stock is 11.34% and 18.93% above its SMA20 and SMA50 respectively. However, with a current trading volume of 0.5 million and changing 0.19% at the moment leaves the stock 60.12% off its SMA200. OKTA registered 64.14% gain for a year compared to 6-month gain of 78.84%. The firm has a 50-day simple moving average (SMA 50) of $194.07 and a 200-day simple moving average (SMA200) of $148.79.
The stock witnessed a 18.72% loss in the last 1 month and extending the period to 3 months gives it a 75.07%, and is 9.76% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.80% over the week and 4.50% over the month.
Okta Inc. (OKTA) has around 2379 employees, a market worth around $27.80B and $643.70M in sales. Profit margin for the company is -33.30%. Distance from 52-week low is 148.36% and 0.10% from its 52-week high. The company has generated returns on investments over the last 12 months (-14.80%).
Okta Inc. (OKTA) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Okta Inc. (OKTA) is a “Overweight”. 23 analysts offering their recommendations for the stock have an average rating of 2.20, where 8 rate it as a Hold and 0 think it is a “Overweight”. 14 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Okta Inc. is expected to release its quarterly report on 09/05/2020 and quarterly earnings per share for the current quarter are estimated at -$0.02 with sales reaching $186.29M over the same period.The EPS is expected to shrink by -52.70% this year, but quarterly earnings will post 32.60% year-over-year.
Okta Inc. (OKTA) Top Institutional Holders
665 institutions hold shares in Okta Inc. (OKTA), with 1.97M shares held by insiders accounting for 1.58% while institutional investors hold 81.24% of the company’s shares. The shares outstanding are 122.69M, and float is at 114.73M with Short Float at 5.90%. Institutions hold 79.95% of the Float.
The top institutional shareholder in the company is Morgan Stanley with over 11.01 million shares valued at $1.35 billion. The investor’s holdings represent 9.48% of the OKTA Shares outstanding. As of Mar 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 10.35 million shares valued at $1.27 billion to account for 8.91% of the shares outstanding. The other top investors are FMR, LLC which holds 9.75 million shares representing 8.39% and valued at over $1.19 billion, while Blackrock Inc. holds 6.62% of the shares totaling 7.69 million with a market value of $940.02 million.
Okta Inc. (OKTA) Insider Activity
A total of 96 insider transactions have happened at Okta Inc. (OKTA) in the last six months, with sales accounting for 72 and purchases happening 24 times. The most recent transaction is an insider sale by HOROWITZ BENJAMIN A, the company’s Director. SEC filings show that HOROWITZ BENJAMIN A sold 37,878 shares of the company’s common stock on Jun 22 at a price of $198.94 per share for a total of $7.54 million. Following the sale, the insider now owns 0.98 million shares.
Okta Inc. disclosed in a document filed with the SEC on Jun 22 that McKinnon Todd (Chief Executive Officer) sold a total of 159,641 shares of the company’s common stock. The trade occurred on Jun 22 and was made at $198.87 per share for $31.75 million. Following the transaction, the insider now directly holds 164.0 shares of the OKTA stock.
Still, SEC filings show that on Jun 16, Runyan Jonathan T (General Counsel and Secretary) disposed off 1,356 shares at an average price of $185.62 for $0.25 million. The insider now directly holds 700 shares of Okta Inc. (OKTA).
Okta Inc. (OKTA): Who are the competitors?
The company’s main competitors (and peers) include Progress Software Corporation (PRGS) that is trading -9.62% down over the past 12 months. Short interest in the company’s stock has fallen -20.56% from the last report on May 14, 2020 to stand at a total of 8.15 million short shares sold with a short interest ratio of 2.79.