Jump Financial LLC Has $3.36 Million Position in Okta, Inc. (NASDAQ:OKTA)

Jump Financial LLC increased its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 277.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in OKTA. Norges Bank bought a new stake in shares of Okta in the fourth quarter worth $234,992,000. Geode Capital Management LLC increased its position in shares of Okta by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 2,700,216 shares of the company's stock worth $212,385,000 after purchasing an additional 135,110 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Okta by 54.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,241,220 shares of the company's stock valued at $97,808,000 after purchasing an additional 440,171 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Okta by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,115,516 shares of the company's stock worth $87,903,000 after purchasing an additional 46,064 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Okta by 570.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 869,362 shares of the company's stock worth $68,506,000 after purchasing an additional 739,707 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company's stock.

Insider Activity at Okta

In other news, Director Jacques Frederic Kerrest sold 390,000 shares of the business's stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brett Tighe sold 5,000 shares of Okta stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $89.00, for a total value of $445,000.00. Following the completion of the sale, the chief financial officer now owns 112,533 shares of the company's stock, valued at approximately $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 a total of 768,202 shares of company stock valued at $71,371,369 in the last 90 days. 7.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on OKTA shares. Wells Fargo & Company increased their target price on Okta from $95.00 to $100.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. KeyCorp raised their price objective on Okta from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. boosted their target price on shares of Okta from $100.00 to $105.00 and gave the company an "overweight" rating in a research note on Friday, February 28th. The Goldman Sachs Group lifted their price target 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, Citigroup increased their price objective on shares of Okta from $100.00 to $110.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $116.03.

Okta Price Performance

Shares of Okta stock traded down $2.04 during trading on Friday, hitting $97.93. 1,898,455 shares of the company's stock traded hands, compared to its average volume of 2,560,182. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $118.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34. The company has a market cap of $17.00 billion, a PE ratio of -279.80, a PEG ratio of 6.42 and a beta of 1.07. The firm's fifty day moving average price is $102.38 and its 200 day moving average price is $88.76.

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.