Okta Inc CEO Todd Mckinnon Sells 7,449 Shares
On December 18, 2023, Todd Mckinnon, CEO of Okta Inc (NASDAQ:OKTA), sold 7,449 shares of the company, according to a recent SEC Filing. Okta Inc is a publicly traded company that provides identity management solutions. The platform helps organizations manage and secure user authentication into applications, and it facilitates developers in building identity controls into applications, website web services, and devices.
Over the past year, the insider has sold a total of 24,934 shares of Okta Inc and has not made any purchases of the stock. The recent transaction on December 18 is part of this selling trend.
The insider transaction history for Okta Inc shows a pattern of selling, with 0 insider buys and 23 insider sells over the past year.
On the day of the sale, shares of Okta Inc were trading at $83.33, giving the company a market capitalization of $14.722 billion.
The stock's price-to-GF-Value ratio stands at 0.57, indicating that Okta Inc is significantly undervalued according to the GF Value. The GF Value is a proprietary intrinsic value estimate from GuruFocus, which is calculated based on historical trading multiples, an adjustment factor for the company's past performance, and future business performance estimates from analysts.
The GF Value for Okta Inc, with a price of $83.33 and a GuruFocus Value of $145.01, suggests that the stock may be undervalued.
Investors often monitor insider selling as it can provide insights into an insider's perspective on the value of the company's stock. However, insider selling does not always indicate a lack of confidence in the company, as insiders may sell shares for various reasons, including diversifying their investments or meeting personal financial needs.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
