Okta Inc (NASDAQ:OKTA) – Stock analysts at William Blair upped their FY2018 earnings per share (EPS) estimates for shares of Okta in a research report issued to clients and investors on Thursday, Zacks Investment Research reports. William Blair analyst J. Ho now forecasts that the company will post earnings per share of ($0.86) for the year, up from their prior estimate of ($0.96). William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for Okta’s Q4 2018 earnings at ($0.17) EPS, Q2 2019 earnings at ($0.24) EPS, Q3 2019 earnings at ($0.22) EPS, Q4 2019 earnings at ($0.19) EPS, FY2019 earnings at ($0.86) EPS and FY2020 earnings at ($0.47) EPS.
Several other brokerages have also recently issued reports on OKTA. Zacks Investment Research raised shares of Okta from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research note on Thursday, September 14th. KeyCorp restated a “buy” rating and set a $35.00 target price on shares of Okta in a research report on Friday, November 10th. Oppenheimer restated a “buy” rating and set a $34.00 target price on shares of Okta in a research report on Thursday, December 7th. BidaskClub lowered shares of Okta from a “buy” rating to a “hold” rating in a research report on Tuesday, December 5th. Finally, SunTrust Banks began coverage on shares of Okta in a research report on Friday, October 27th. They set a “buy” rating and a $36.00 target price on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $33.00.
Shares of Okta (NASDAQ OKTA) traded up $0.85 on Monday, reaching $26.46. 1,635,291 shares of the company’s stock traded hands, compared to its average volume of 1,707,900. The firm has a market cap of $2,700.00 and a PE ratio of -23.01. Okta has a 12 month low of $21.52 and a 12 month high of $33.64.
In related news, General Counsel Jonathan T. Runyan sold 300,000 shares of the business’s stock in a transaction dated Wednesday, October 4th. The shares were sold at an average price of $27.03, for a total value of $8,109,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Todd Mckinnon sold 49,545 shares of the business’s stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $28.59, for a total transaction of $1,416,491.55. The disclosure for this sale can be found here. Insiders sold a total of 1,688,504 shares of company stock worth $47,018,614 over the last quarter.
Several institutional investors have recently added to or reduced their stakes in the stock. Glynn Capital Management LLC purchased a new stake in shares of Okta in the 2nd quarter worth about $45,855,000. FMR LLC purchased a new stake in shares of Okta in the 2nd quarter worth about $23,135,000. JPMorgan Chase & Co. boosted its position in shares of Okta by 5.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,010,369 shares of the company’s stock worth $29,291,000 after buying an additional 51,761 shares in the last quarter. Vanguard Group Inc. purchased a new stake in shares of Okta in the 2nd quarter worth about $21,749,000. Finally, Capital World Investors purchased a new stake in shares of Okta in the 2nd quarter worth about $11,400,000. Institutional investors and hedge funds own 13.41% of the company’s stock.
Okta, Inc is a United States-based independent provider of identity for the enterprise. The Company’s Okta Identity Cloud connects and protects employees. It also connects enterprises to their partners, suppliers and customers. The Company offers products, such as Okta information technology (IT) Products and Okta for Developers.
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