Okta, Inc. (NASDAQ:OKTA) Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lessened its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 380,397 shares of the company's stock after selling 16,141 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.22% of Okta worth $29,975,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OKTA. Pacer Advisors Inc. lifted its position in shares of Okta by 162.8% during the 4th quarter. Pacer Advisors Inc. now owns 29,103 shares of the company's stock valued at $2,293,000 after buying an additional 18,029 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Okta by 103.8% during the 4th quarter. Blue Trust Inc. now owns 758 shares of the company's stock valued at $56,000 after buying an additional 386 shares in the last quarter. Linden Thomas Advisory Services LLC raised its holdings in Okta by 6.6% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 16,130 shares of the company's stock valued at $1,271,000 after acquiring an additional 1,004 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Okta by 149.3% in the fourth quarter. Geneos Wealth Management Inc. now owns 10,466 shares of the company's stock worth $825,000 after acquiring an additional 6,268 shares during the period. Finally, Avior Wealth Management LLC raised its stake in shares of Okta by 4,844.2% during the 4th quarter. Avior Wealth Management LLC now owns 3,807 shares of the company's stock valued at $300,000 after purchasing an additional 3,730 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Okta Trading Down 0.3 %

Shares of NASDAQ OKTA traded down $0.27 during trading hours on Monday, reaching $93.95. The stock had a trading volume of 1,318,983 shares, compared to its average volume of 2,566,481. The firm has a market cap of $16.10 billion, a price-to-earnings ratio of -268.79, a P/E/G ratio of 9.52 and a beta of 1.03. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a 52-week low of $70.56 and a 52-week high of $114.50. The business's fifty day moving average price is $84.07 and its two-hundred day moving average price is $81.97.

Wall Street Analyst Weigh In

A number of research firms have recently commented on OKTA. Deutsche Bank Aktiengesellschaft lowered shares of Okta from a "buy" rating to a "hold" rating and reduced their price target for the company from $115.00 to $85.00 in a research report on Tuesday, November 12th. Truist Financial reaffirmed a "hold" rating and issued a $92.00 price objective (up previously from $80.00) on shares of Okta in a research note on Wednesday, December 4th. Jefferies Financial Group lowered their price target on shares of Okta from $100.00 to $90.00 and set a "hold" rating for the company in a research note on Thursday, December 19th. DA Davidson raised their price objective on Okta from $75.00 to $90.00 and gave the company a "neutral" rating in a research note on Wednesday, December 4th. Finally, Morgan Stanley raised Okta from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $92.00 to $97.00 in a research note on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Okta has a consensus rating of "Hold" and an average price target of $104.55.

Insider Buying and Selling

In related news, insider Larissa Schwartz sold 2,704 shares of the company's stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $80.50, for a total value of $217,672.00. Following the sale, the insider now owns 24,462 shares in the company, valued at $1,969,191. This represents a 9.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jacques Frederic Kerrest sold 390,000 shares of the company's stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $87.09, for a total value of $33,965,100.00. The disclosure for this sale can be found here. Insiders sold 908,168 shares of company stock worth $77,946,969 in the last three months. 7.00% of the stock is owned by insiders.

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.