Massachusetts Financial Services Co. MA Makes New Investment in Okta, Inc. (NASDAQ:OKTA)

Massachusetts Financial Services Co. MA bought a new position in shares of Okta, Inc. (NASDAQ:OKTA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 134,783 shares of the company’s stock, valued at approximately $12,617,000. Massachusetts Financial Services Co. MA owned approximately 0.08% of Okta at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. City State Bank raised its position in shares of Okta by 160.0% in the first quarter. City State Bank now owns 260 shares of the company’s stock worth $27,000 after buying an additional 160 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Okta by 71.4% in the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company’s stock worth $36,000 after buying an additional 142 shares in the last quarter. First Command Advisory Services Inc. purchased a new stake in shares of Okta in the second quarter worth $47,000. nVerses Capital LLC purchased a new stake in shares of Okta in the second quarter worth $47,000. Finally, Principal Securities Inc. purchased a new stake in shares of Okta in the fourth quarter worth $48,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insiders Place Their Bets

In other Okta news, Director Jacques Frederic Kerrest sold 2,100 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $95.12, for a total value of $199,752.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Jacques Frederic Kerrest sold 2,100 shares of Okta stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $95.12, for a total transaction of $199,752.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Larissa Schwartz sold 2,790 shares of Okta stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.01, for a total transaction of $206,487.90. Following the transaction, the insider now owns 27,713 shares of the company’s stock, valued at $2,051,039.13. The disclosure for this sale can be found here. Insiders sold 347,411 shares of company stock worth $32,837,280 over the last three months. Company insiders own 7.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on OKTA shares. Bank of America downgraded Okta from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $135.00 to $75.00 in a research report on Thursday, August 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $125.00 target price on shares of Okta in a research note on Thursday, August 29th. Stifel Nicolaus reduced their target price on Okta from $122.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. The Goldman Sachs Group reduced their target price on Okta from $130.00 to $113.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Jefferies Financial Group reduced their target price on Okta from $110.00 to $100.00 and set a “hold” rating on the stock in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Okta has an average rating of “Hold” and an average target price of $105.14.

Okta Stock Performance

Shares of OKTA opened at $75.75 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.83 and a quick ratio of 1.83. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50. The company has a 50-day simple moving average of $87.37 and a two-hundred day simple moving average of $93.61. The firm has a market capitalization of $12.87 billion, a PE ratio of -45.36, a price-to-earnings-growth ratio of 41.00 and a beta of 1.01.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.29. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. The business had revenue of $646.00 million during the quarter, compared to analyst estimates of $632.24 million. On average, analysts anticipate that Okta, Inc. will post 0.08 EPS for the current fiscal year.

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.