MML Investors Services LLC Acquires 10,048 Shares of Okta, Inc. (NASDAQ:OKTA)

MML Investors Services LLC grew its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 43.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,333 shares of the company’s stock after buying an additional 10,048 shares during the period. 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 (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Caprock Group LLC increased its holdings in Okta by 4.7% in the 2nd quarter. Caprock Group LLC now owns 2,856 shares of the company’s stock valued at $267,000 after acquiring an additional 129 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of Okta by 11.0% in the second quarter. National Bank of Canada FI now owns 1,315 shares of the company’s stock worth $124,000 after purchasing an additional 130 shares during the last quarter. Bleakley Financial Group LLC lifted its position in shares of Okta by 4.6% in the third quarter. Bleakley Financial Group LLC now owns 4,114 shares of the company’s stock worth $306,000 after buying an additional 182 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its stake in Okta by 12.4% during the third quarter. Creative Financial Designs Inc. ADV now owns 1,704 shares of the company’s stock valued at $127,000 after buying an additional 188 shares during the last quarter. Finally, Blue Trust Inc. grew its holdings in Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock valued at $28,000 after buying an additional 191 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insider Activity

In related news, CEO Todd Mckinnon sold 200,512 shares of Okta stock in a transaction that occurred on 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 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, CRO Jonathan James Addison sold 9,850 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $77.63, for a total transaction of $764,655.50. Following the completion of the transaction, the executive now directly owns 14,601 shares of the company’s stock, valued at $1,133,475.63. This trade represents a 40.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 604,425 shares of company stock worth $46,098,322. Company insiders own 7.00% of the company’s stock.

Okta Trading Down 2.3 %

Shares of NASDAQ OKTA opened at $81.99 on Monday. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $114.50. The firm has a market cap of $13.93 billion, a PE ratio of -234.26, a price-to-earnings-growth ratio of 8.93 and a beta of 1.00. The business has a fifty day simple moving average of $76.84 and a two-hundred day simple moving average of $83.43. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Analysts Set New Price Targets

Several brokerages have recently issued reports on OKTA. Robert W. Baird upped their price objective on Okta from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. BTIG Research increased their price objective on shares of Okta from $98.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Jefferies Financial Group boosted their target price on shares of Okta from $85.00 to $100.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. BMO Capital Markets increased their price target on shares of Okta from $103.00 to $105.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Canaccord Genuity Group boosted their price objective on Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Okta currently has a consensus rating of “Hold” and an average target price of $103.77.

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.