MML Investors Services LLC Has $2.82 Million Position in Okta, Inc. (NASDAQ:OKTA)

MML Investors Services LLC raised its holdings in Okta, Inc. (NASDAQ:OKTA - Free Report) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,818 shares of the company's stock after acquiring an additional 2,485 shares during the quarter. MML Investors Services LLC's holdings in Okta were worth $2,822,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Marshall Wace LLP increased its position in Okta by 35.5% during the fourth quarter. Marshall Wace LLP now owns 3,583,937 shares of the company's stock worth $282,414,000 after buying an additional 938,509 shares during the last quarter. Norges Bank acquired a new position in Okta during the fourth quarter valued at approximately $234,992,000. Geode Capital Management LLC raised its position in shares of Okta by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 2,700,216 shares of the company's stock valued at $212,385,000 after purchasing an additional 135,110 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Okta by 54.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,241,220 shares of the company's stock worth $97,808,000 after buying an additional 440,171 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Okta by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company's stock worth $87,903,000 after buying an additional 46,064 shares during the period. 86.64% of the stock is owned by institutional investors.

Okta Trading Up 1.8 %

Shares of OKTA opened at $103.38 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market cap of $17.95 billion, a price-to-earnings ratio of -295.37, a PEG ratio of 6.42 and a beta of 1.07. The stock has a fifty day moving average price of $102.42 and a two-hundred day moving average price of $89.58. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $118.07.

Analysts Set New Price Targets

A number of research analysts have weighed in on OKTA shares. Wells Fargo & Company boosted their target price on shares of Okta from $95.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. Truist Financial increased their target price on Okta from $92.00 to $100.00 and gave the company a "hold" rating in a research note on Tuesday, March 4th. BTIG Research reaffirmed a "buy" rating on shares of Okta in a research report on Tuesday, March 4th. KeyCorp increased their price objective on Okta from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. Finally, DA Davidson raised shares of Okta from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $90.00 to $125.00 in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Okta presently has an average rating of "Moderate Buy" and an average target price of $116.12.

Insider Activity

In other Okta news, insider Larissa Schwartz sold 11,552 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $114.09, for a total value of $1,317,967.68. Following the transaction, the insider now directly owns 22,125 shares in the company, valued at approximately $2,524,241.25. This trade represents a 34.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jacques Frederic Kerrest sold 130,000 shares of the business's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $93.00, for a total value of $12,090,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 362,192 shares of company stock worth $35,988,856. 7.00% of the stock is owned by corporate insiders.

About Okta

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.

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