Magnetar Financial LLC Purchases 17,858 Shares of Okta, Inc. (NASDAQ:OKTA)

Magnetar Financial LLC increased its position in shares of Okta, Inc. (NASDAQ:OKTA) by 493.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,477 shares of the company’s stock after purchasing an additional 17,858 shares during the quarter. Magnetar Financial LLC’s holdings in Okta were worth $1,692,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Frank Rimerman Advisors LLC lifted its holdings in shares of Okta by 2.4% in the fourth quarter. Frank Rimerman Advisors LLC now owns 4,465 shares of the company’s stock worth $352,000 after acquiring an additional 105 shares during the last quarter. Stephens Inc. AR lifted its holdings in shares of Okta by 5.0% in the fourth quarter. Stephens Inc. AR now owns 3,296 shares of the company’s stock worth $260,000 after acquiring an additional 157 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Okta by 2.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,135 shares of the company’s stock worth $605,000 after acquiring an additional 180 shares during the last quarter. Great Lakes Advisors LLC increased its stake in shares of Okta by 2.7% in the fourth quarter. Great Lakes Advisors LLC now owns 7,070 shares of the company’s stock valued at $557,000 after buying an additional 184 shares during the period. Finally, CHICAGO TRUST Co NA increased its stake in shares of Okta by 6.5% in the fourth quarter. CHICAGO TRUST Co NA now owns 3,120 shares of the company’s stock valued at $246,000 after buying an additional 191 shares during the period. Institutional investors own 86.64% of the company’s stock.

Okta Stock Performance

NASDAQ OKTA opened at $112.80 on Friday. The company has a fifty day simple moving average of $96.89 and a 200 day simple moving average of $84.07. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $116.96. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The company has a market cap of $19.58 billion, a P/E ratio of -322.29, a PEG ratio of 6.42 and a beta of 1.09.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Susquehanna upped their price objective on Okta from $95.00 to $105.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Westpark Capital reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Okta in a research note on Friday, February 28th. JPMorgan Chase & Co. upped their price objective on Okta from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Jefferies Financial Group upped their price objective on Okta from $90.00 to $110.00 and gave the company a “hold” rating in a research note on Tuesday, March 4th. Finally, Guggenheim reissued a “buy” rating and set a $130.00 target price on shares of Okta in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Okta presently has an average rating of “Moderate Buy” and a consensus price target of $115.29.

Insider Activity at Okta

In other Okta news, insider Larissa Schwartz sold 2,704 shares of Okta stock in a transaction on Monday, December 30th. The shares were sold at an average price of $80.50, for a total transaction of $217,672.00. Following the transaction, the insider now directly owns 24,462 shares of the company’s stock, valued at $1,969,191. The trade was a 9.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jacques Frederic Kerrest sold 3,306 shares of Okta stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $88.85, for a total transaction of $293,738.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 752,349 shares of company stock valued at $69,562,237. 7.00% of the stock is owned by company 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.