Okta, Inc. (NASDAQ:OKTA) Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its stake in Okta, Inc. (NASDAQ:OKTA) by 570.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 869,362 shares of the company’s stock after purchasing an additional 739,707 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Okta were worth $68,506,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC lifted its stake in Okta by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 2,700,216 shares of the company’s stock valued at $212,385,000 after buying an additional 135,110 shares in the last quarter. Nemes Rush Group LLC raised its holdings in shares of Okta by 757.3% during the fourth quarter. Nemes Rush Group LLC now owns 4,252 shares of the company’s stock valued at $335,000 after acquiring an additional 3,756 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Okta by 32.1% in the fourth quarter. Alliancebernstein L.P. now owns 93,450 shares of the company’s stock valued at $7,364,000 after acquiring an additional 22,702 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Okta by 68.8% in the fourth quarter. Wellington Management Group LLP now owns 34,042 shares of the company’s stock worth $2,683,000 after acquiring an additional 13,869 shares during the last quarter. Finally, Prevail Innovative Wealth Advisors LLC purchased a new stake in shares of Okta during the fourth quarter worth approximately $3,624,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Price Performance

OKTA stock opened at $91.93 on Friday. The business’s fifty day moving average price is $101.64 and its 200 day moving average price is $86.75. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $118.07. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $15.96 billion, a PE ratio of -262.66, a P/E/G ratio of 6.42 and a beta of 1.06.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Cantor Fitzgerald initiated coverage on Okta in a report on Monday, March 31st. They issued an “overweight” rating and a $130.00 price objective on the stock. BMO Capital Markets raised their price target on shares of Okta from $105.00 to $130.00 and gave the stock a “market perform” rating in a research note on Monday, March 10th. Canaccord Genuity Group boosted their price target on shares of Okta from $94.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, March 4th. The Goldman Sachs Group increased their price objective on shares of Okta from $107.00 to $123.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Finally, KeyCorp boosted their target price on Okta from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.09.

Insiders Place Their Bets

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, CFO Brett Tighe sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total value of $445,000.00. Following the transaction, the chief financial officer now directly owns 112,533 shares of the company’s stock, valued at $10,015,437. The trade was a 4.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 761,197 shares of company stock worth $70,662,533 over the last three months. Company insiders own 7.00% of the company’s stock.

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.