MML Investors Services LLC Grows Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

MML Investors Services LLC increased its position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 7.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,818 shares of the company's stock after buying an additional 2,485 shares during the period. MML Investors Services LLC's holdings in Okta were worth $2,822,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new position in shares of Okta in the 3rd quarter valued at about $2,436,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Okta in the third quarter valued at approximately $108,000. Tidal Investments LLC lifted its position in shares of Okta by 132.0% during the 3rd quarter. Tidal Investments LLC now owns 25,103 shares of the company's stock valued at $1,866,000 after buying an additional 14,283 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new position in shares of Okta during the 3rd quarter valued at approximately $5,343,000. Finally, 272 Capital LP acquired a new stake in Okta in the 3rd quarter valued at $1,241,000. Institutional investors and hedge funds own 86.64% of the company's stock.

Okta Trading Up 2.0 %

Shares of OKTA traded up $2.29 during midday trading on Friday, hitting $114.15. 1,160,251 shares of the stock were exchanged, compared to its average volume of 2,716,557. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $118.07. 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 stock has a fifty day simple moving average of $103.73 and a 200 day simple moving average of $90.32. The firm has a market cap of $19.82 billion, a P/E ratio of -325.96, a P/E/G ratio of 6.42 and a beta of 1.07.

Insider Activity at Okta

In related news, insider Larissa Schwartz sold 11,552 shares of Okta 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jacques Frederic Kerrest sold 65,000 shares of the company's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $97.50, for a total value of $6,337,500.00. The disclosure for this sale can be found here. Insiders sold 222,192 shares of company stock worth $22,952,256 in the last three months. 7.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on OKTA shares. Scotiabank increased their price objective on shares of Okta from $94.00 to $109.00 and gave the company a "sector perform" rating in a report on Tuesday, March 4th. Oppenheimer lifted their price objective on Okta from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Tuesday, March 4th. Mizuho raised Okta from a "neutral" rating to an "outperform" rating and increased their target price for the company from $110.00 to $127.00 in a report on Tuesday, March 4th. Cantor Fitzgerald began coverage on Okta in a research note on Monday, March 31st. They issued an "overweight" rating and a $130.00 price target on the stock. Finally, Susquehanna increased their price objective on Okta from $95.00 to $105.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $116.12.

Okta 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.