Robeco Institutional Asset Management B.V. Buys 277,084 Shares of Okta, Inc. (NASDAQ:OKTA)

Robeco Institutional Asset Management B.V. boosted its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 232.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 396,538 shares of the company's stock after buying an additional 277,084 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.24% of Okta worth $29,479,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new stake in shares of Okta during the third quarter valued at approximately $26,000. Blue Trust Inc. raised its stake in Okta by 105.5% during the 3rd quarter. Blue Trust Inc. now owns 372 shares of the company's stock valued at $28,000 after purchasing an additional 191 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Okta by 71.4% in the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company's stock valued at $36,000 after purchasing an additional 142 shares in the last quarter. First Command Advisory Services Inc. acquired a new stake in shares of Okta in the second quarter worth $47,000. Finally, nVerses Capital LLC purchased a new position in shares of Okta during the second quarter valued at $47,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Todd Mckinnon sold 200,512 shares of Okta stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $75.21, for a total transaction of $15,080,507.52. Following the sale, the chief executive officer now directly owns 8,495 shares of the company's stock, valued at $638,908.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Okta news, insider Larissa Schwartz sold 2,791 shares of the business's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $71.50, for a total value of $199,556.50. Following the sale, the insider now owns 22,125 shares of the company's stock, valued at $1,581,937.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Todd Mckinnon sold 200,512 shares of the firm's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $75.21, for a total transaction of $15,080,507.52. Following the transaction, the chief executive officer now directly owns 8,495 shares of the company's stock, valued at $638,908.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 478,584 shares of company stock valued at $35,958,556. Insiders own 7.00% of the company's stock.

Okta Trading Up 3.4 %

OKTA traded up $2.54 during midday trading on Wednesday, reaching $76.61. The company's stock had a trading volume of 2,483,840 shares, compared to its average volume of 1,928,649. Okta, Inc. has a twelve month low of $65.98 and a twelve month high of $114.50. The company has a fifty day simple moving average of $74.84 and a 200 day simple moving average of $87.04. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 1.83.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.29. The business had revenue of $646.00 million for the quarter, compared to the consensus estimate of $632.24 million. Okta had a negative net margin of 5.55% and a negative return on equity of 1.10%. As a group, analysts expect that Okta, Inc. will post 0.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Canaccord Genuity Group reduced their price objective on Okta from $90.00 to $82.00 and set a "hold" rating for the company in a research note on Friday, October 18th. Piper Sandler decreased their price target on shares of Okta from $100.00 to $85.00 and set a "neutral" rating for the company in a report on Thursday, October 17th. Susquehanna dropped their price objective on shares of Okta from $110.00 to $85.00 and set a "neutral" rating on the stock in a research note on Thursday, September 5th. Stifel Nicolaus decreased their target price on shares of Okta from $122.00 to $108.00 and set a "buy" rating for the company in a research note on Thursday, August 29th. Finally, Citigroup dropped their price target on shares of Okta from $115.00 to $110.00 and set a "neutral" 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 given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Okta has a consensus rating of "Hold" and a consensus target price of $99.39.

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.