Okta, Inc. (NASDAQ:OKTA) Shares Purchased by Jump Financial LLC

Jump Financial LLC lifted its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 277.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,668 shares of the company's stock after purchasing an additional 31,358 shares during the quarter. Jump Financial LLC's holdings in Okta were worth $3,362,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Okta in the 4th quarter worth approximately $234,992,000. Massachusetts Financial Services Co. MA grew its holdings in Okta by 570.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 869,362 shares of the company's stock valued at $68,506,000 after purchasing an additional 739,707 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Okta by 54.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,241,220 shares of the company's stock worth $97,808,000 after buying an additional 440,171 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Okta by 1,150.2% in the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company's stock worth $33,146,000 after buying an additional 382,190 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Okta by 138.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 554,633 shares of the company's stock valued at $43,721,000 after buying an additional 322,201 shares in the last quarter. Institutional investors own 86.64% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on OKTA shares. Susquehanna lifted their target price on shares of Okta from $95.00 to $105.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. upped their price objective on Okta from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Friday, February 28th. DA Davidson raised Okta from a "neutral" rating to a "buy" rating and lifted their target price for the company from $90.00 to $125.00 in a research note on Tuesday, March 4th. Oppenheimer upped their price target on Okta from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 4th. Finally, Jefferies Financial Group increased their price objective on shares of Okta from $90.00 to $110.00 and gave the company a "hold" rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Okta presently has a consensus rating of "Moderate Buy" and a consensus price target of $116.12.

Insider Activity

In other Okta news, Director Jacques Frederic Kerrest sold 390,000 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $87.09, for a total transaction of $33,965,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Larissa Schwartz sold 2,740 shares of Okta stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $97.59, for a total value of $267,396.60. Following the completion of the sale, the insider now directly owns 22,125 shares in the company, valued at $2,159,178.75. This represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 757,192 shares of company stock worth $70,390,406 in the last quarter. Corporate insiders own 7.00% of the company's stock.

Okta Price Performance

NASDAQ OKTA traded up $4.87 during trading hours on Wednesday, reaching $99.20. The company's stock had a trading volume of 963,424 shares, compared to its average volume of 3,168,366. The firm has a market capitalization of $17.22 billion, a price-to-earnings ratio of -283.43, a P/E/G ratio of 6.42 and a beta of 1.07. The company's 50-day moving average is $102.14 and its two-hundred day moving average is $88.94. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $118.07.

Okta Company 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.