Okta, Inc. (NASDAQ:OKTA) Shares Purchased by MML Investors Services LLC

MML Investors Services LLC boosted its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 43.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,333 shares of the company's stock after purchasing an additional 10,048 shares during the quarter. MML Investors Services LLC's holdings in Okta were worth $2,478,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OKTA. Paloma Partners Management Co purchased a new stake in shares of Okta in the third quarter valued at $969,000. SG Americas Securities LLC boosted its stake in Okta by 122.3% in the 3rd quarter. SG Americas Securities LLC now owns 17,021 shares of the company's stock worth $1,265,000 after buying an additional 9,364 shares during the last quarter. Truist Financial Corp grew its holdings in Okta by 62.5% in the 2nd quarter. Truist Financial Corp now owns 522,057 shares of the company's stock valued at $48,870,000 after buying an additional 200,770 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Okta by 105.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company's stock valued at $26,627,000 after acquiring an additional 184,107 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Okta by 7.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,547 shares of the company's stock worth $8,813,000 after acquiring an additional 8,239 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Stock Up 3.4 %

OKTA traded up $2.77 during trading on Monday, hitting $84.76. The company had a trading volume of 4,068,395 shares, compared to its average volume of 2,147,302. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $114.50. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market cap of $14.52 billion, a PE ratio of -242.17, a P/E/G ratio of 8.61 and a beta of 1.00. The business has a 50-day moving average of $77.10 and a 200-day moving average of $83.40.

Insider Transactions at Okta

In other news, CRO Jonathan James Addison sold 9,850 shares of the firm's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $77.63, for a total value of $764,655.50. Following the transaction, the executive now directly owns 14,601 shares in the company, valued at approximately $1,133,475.63. This trade represents a 40.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Todd Mckinnon sold 200,512 shares of Okta stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $75.21, for a total transaction of $15,080,507.52. Following the completion of the transaction, the chief executive officer now directly owns 8,495 shares of the company's stock, valued at $638,908.95. This trade represents a 95.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 604,425 shares of company stock valued at $46,098,322. Insiders own 7.00% of the company's stock.

Wall Street Analyst Weigh In

OKTA has been the subject of a number of recent analyst reports. Scotiabank boosted their target price on shares of Okta from $92.00 to $96.00 and gave the company a "sector perform" rating in a report on Wednesday, December 4th. Mizuho lowered their price objective on shares of Okta from $104.00 to $92.00 and set a "neutral" rating for the company in a research note on Thursday, October 17th. Bank of America lowered Okta from a "buy" rating to an "underperform" rating and cut their target price for the stock from $135.00 to $75.00 in a research report on Thursday, August 29th. JMP Securities reissued a "market perform" rating on shares of Okta in a research report on Wednesday, December 4th. Finally, Stifel Nicolaus upped their price target on Okta from $108.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $104.27.

Okta Company Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.