Okta Inc. (OKTA): Find Out What Insiders Are Doing

Okta Inc. (NASDAQ:OKTA) finished Friday with an addition of $0.61 to close at $260.38, an upside of 0.23 percent. An average of 885,960 shares of common stock have been traded in the last five days. There was a gain of $5.36 in the past week, and it reached a new high 20 times over the past 12 months. The last 20 days have seen an average of 1,285,305 shares traded, while the 50-day average volume stands at 1,460,778.

OKTA stock has increased by 1.96% in the last month. The company shares reached their 1-month lowest point of $223.54 on 10/04/21. With the stock rallying to its 52-week high on 02/12/21, shares of the company touched a low of $199.08 and a high of $294.00 in 52 weeks. It has reached a new high 16 times so far this year and achieved 2.41% or $6.12 in price. In spite of this, the price is down -11.44% from the 52-week high.


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Insider Transactions

3 days have passed since Okta Inc. (OKTA) last reported insider trading activity. McKinnon Todd, who is Chief Executive Officer, most recently acquired $13,818 shares at $256.75 per share on Oct 20. In this transaction, the insider spent $3,547,764. General Counsel and Secretary, Runyan Jonathan T, disposed of 18,392 shares at a price of $260.00 on Oct 14. The insider now owns more than $4,781,920 worth of shares. Prior to that, Chief Accounting Officer KRAMER CHRISTOPHER K went on to Sale 3,335 shares at $255.61 each on Oct 14. An amount of $852,443 was transacted.

Valuation Metrics

Okta Inc. (OKTA) has a trailing price-to-earnings (P/E) ratio of 29.20 for the broader industry and 38.99 for the sector. The stock’s beta is 1.02. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 39.61, the price-to-book (PB) ratio at 6.52, and the price-to-cash flow ratio at 321.78.

The quick ratio of Okta Inc. for the three months ended July 30 was 3.20, and the current ratio was 3.20, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.29 and a total debt to equity ratio of 0.30 for the quarter ending July 30. Okta Inc.’s EBITDA margin for the year ending July 30 is -15.28%, while its operating margin for the same period stands at -45.30%. Its gross profit as reported stood at $617.74 million compared to revenue of $835.42 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Okta Inc.’s return on assets was -11.40%. For the broader industry, ROE averaged 3.34 over the past year.

Earnings Surprise

For the three-month period that ended July 30, Okta Inc. had $2.24 billion in cash. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$276.68 million in the quarter, while revenues were grew 78.28%. The analyst consensus anticipated Okta Inc.’s latest quarter earnings to come in at -$0.35 per share, but it turned out to be -$0.11, a 68.60% surprise. For the quarter, EBITDA amounted to -$196.9 million. Shareholders own equity worth $154.66 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Okta Inc. (OKTA) price momentum. RSI 9-day as of the close on 22 October was 66.86%, suggesting the stock is Neutral, with historical volatility in this time frame at 29.14%.

As of today, OKTA’s price is $258.81 +2.10% or $5.36 from its 5-day moving average. OKTA is currently trading +2.74% higher than its 20-day SMA and +20.69% higher than its 100-day SMA. However, the stock’s current price level is +10.27% above the SMA50 and +3.81% above the SMA200.

The stochastic %K and %D were 90.51% and 89.40%, respectively, and the average true range (ATR) was 7.69. With the 14-day stochastic at 94.49% and the average true range at 7.86, the RSI (14) stands at 61.16%. The stock has reached 4.70 on the 9-day MACD Oscillator while the 14-day reading was at 13.45.

Analyst Ratings

Morgan Stanley upgraded Okta Inc. (NASDAQ: OKTA) to a an Overweight rating in its most recent analyst report. Previously, the stock was rated as an Equal-weight. The consensus rating for Okta Inc. (OKTA) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell OKTA, while 8 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 19 others rate it as a “buy”.

What is OKTA’s price target for the next 12 months?

Analysts predict a range of price targets between $250.00 and $325.00, with a median target of $300.00. Taking a look at these predictions, the average price target given by analysts for Okta Inc. (OKTA) stock is $296.88.

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