Massachusetts Financial Services Co. MA Has $9.64 Million Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Massachusetts Financial Services Co. MA decreased its position in Okta, Inc. (NASDAQ:OKTA) by 3.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 129,655 shares of the company’s stock after selling 5,128 shares during the period. Massachusetts Financial Services Co. MA owned about 0.08% of Okta worth $9,639,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Marshall Wace LLP boosted its position in shares of Okta by 117.4% during the 2nd quarter. Marshall Wace LLP now owns 2,273,700 shares of the company’s stock valued at $212,841,000 after acquiring an additional 1,227,890 shares in the last quarter. Eminence Capital LP lifted its stake in Okta by 18.1% during the second quarter. Eminence Capital LP now owns 1,989,375 shares of the company’s stock worth $186,225,000 after purchasing an additional 305,381 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in Okta by 232.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 396,538 shares of the company’s stock valued at $29,479,000 after purchasing an additional 277,084 shares in the last quarter. Truist Financial Corp grew its stake in shares of 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 purchasing an additional 200,770 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Okta by 105.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock worth $26,627,000 after buying an additional 184,107 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

Okta Stock Up 0.4 %

Shares of NASDAQ:OKTA opened at $76.83 on Wednesday. The company has a 50 day moving average price of $74.77 and a two-hundred day moving average price of $85.17. The company has a market capitalization of $13.05 billion, a PE ratio of -91.46, a PEG ratio of 18.75 and a beta of 1.02. Okta, Inc. has a 52 week low of $66.69 and a 52 week high of $114.50. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Wednesday, August 28th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.29. The business had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $632.24 million. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. Analysts forecast that Okta, Inc. will post 0.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on OKTA shares. Deutsche Bank Aktiengesellschaft lowered Okta from a “buy” rating to a “hold” rating and decreased their price target for the company from $115.00 to $85.00 in a research note on Tuesday, November 12th. Morgan Stanley lowered their target price on shares of Okta from $100.00 to $92.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. Needham & Company LLC started coverage on shares of Okta in a report on Thursday, October 17th. They set a “buy” rating and a $100.00 price target for the company. BTIG Research decreased their price objective on shares of Okta from $128.00 to $98.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Finally, Citigroup reduced their target price on Okta from $115.00 to $110.00 and set a “neutral” rating on the stock in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Okta currently has a consensus rating of “Hold” and a consensus target price of $98.30.

Insider Buying and Selling at Okta

In related news, insider Larissa Schwartz sold 2,791 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $71.50, for a total value of $199,556.50. Following the completion of the transaction, the insider now directly owns 22,125 shares of the company’s stock, valued at approximately $1,581,937.50. This represents a 11.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Jonathan James Addison sold 9,850 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $77.63, for a total value of $764,655.50. Following the transaction, the executive now owns 14,601 shares of the company’s stock, valued at approximately $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 ninety days, insiders sold 475,789 shares of company stock valued at $35,701,361. 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.