The Manufacturers Life Insurance Company Has $575,000 Stake in Okta, Inc. (NASDAQ:OKTA)

The Manufacturers Life Insurance Company grew its stake in Okta, Inc. (NASDAQ:OKTA) by 3.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,737 shares of the company’s stock after buying an additional 250 shares during the period. The Manufacturers Life Insurance Company’s holdings in Okta were worth $575,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in OKTA. Caprock Group LLC grew its stake 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 buying an additional 129 shares during the last quarter. National Bank of Canada FI grew its position 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 valued at $124,000 after purchasing an additional 130 shares during the last quarter. Bleakley Financial Group LLC grew 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 valued at $306,000 after purchasing an additional 182 shares during the last quarter. Creative Financial Designs Inc. ADV increased its stake in shares of Okta by 12.4% in the third quarter. Creative Financial Designs Inc. ADV now owns 1,704 shares of the company’s stock worth $127,000 after purchasing an additional 188 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company’s stock worth $28,000 after purchasing an additional 191 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Okta Stock Down 2.3 %

Shares of OKTA opened at $81.99 on Friday. The company has a market capitalization of $13.93 billion, a P/E ratio of -234.26, a PEG ratio of 8.93 and a beta of 1.00. Okta, Inc. has a one year low of $70.56 and a one year high of $114.50. The business’s 50 day simple moving average is $76.84 and its 200-day simple moving average is $83.52. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. BMO Capital Markets lifted their price target on Okta from $103.00 to $105.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group boosted their target price on shares of Okta from $82.00 to $94.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Stifel Nicolaus increased their price target on shares of Okta from $108.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. JMP Securities restated a “market perform” rating on shares of Okta in a research report on Wednesday, December 4th. Finally, Piper Sandler upped their price objective on shares of Okta from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Okta currently has an average rating of “Hold” and an average price target of $103.77.

Insider Buying and Selling at Okta

In other Okta news, insider Larissa Schwartz sold 2,790 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $74.01, for a total transaction of $206,487.90. Following the sale, the insider now owns 27,713 shares of the company’s stock, valued at $2,051,039.13. This represents a 9.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd Mckinnon sold 200,512 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $75.21, for a total transaction of $15,080,507.52. Following the completion of the transaction, the chief executive officer now directly owns 8,495 shares of the company’s stock, valued at approximately $638,908.95. This represents a 95.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 607,215 shares of company stock worth $46,304,810. 7.00% of the stock is currently owned by 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.