Robeco Institutional Asset Management B.V. Buys 320,849 Shares of Okta, Inc. $OKTA

Robeco Institutional Asset Management B.V. boosted its stake in Okta, Inc. (NASDAQ:OKTA) by 192.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 487,202 shares of the company’s stock after acquiring an additional 320,849 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Okta were worth $101,879,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in OKTA. Allspring Global Investments Holdings LLC raised its stake in shares of Okta by 71.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock valued at $281,209,000 after purchasing an additional 1,485,963 shares during the period. Pictet Asset Management Holding SA lifted its holdings in shares of Okta by 28.4% in the first quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company’s stock valued at $195,844,000 after purchasing an additional 550,328 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Okta by 114.3% during the first quarter. Quantinno Capital Management LP now owns 746,009 shares of the company’s stock worth $58,718,000 after buying an additional 397,951 shares during the period. Swedbank AB boosted its position in shares of Okta by 21.9% during the first quarter. Swedbank AB now owns 2,216,588 shares of the company’s stock worth $174,468,000 after buying an additional 397,507 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Okta by 641.7% during the first quarter. SG Americas Securities LLC now owns 392,421 shares of the company’s stock worth $30,887,000 after buying an additional 339,515 shares during the period. Institutional investors own 86.64% of the company’s stock.

Insider Buying and Selling

In other Okta news, insider Eric Kelleher sold 6,395 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $183.58, for a total value of $1,173,994.10. Following the completion of the transaction, the insider directly owned 18,668 shares in the company, valued at $3,427,071.44. This trade represents a 25.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd McKinnon sold 48,822 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $193.48, for a total value of $9,446,080.56. Following the transaction, the chief executive officer directly owned 44,029 shares in the company, valued at $8,518,730.92. This trade represents a 52.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 137,766 shares of company stock worth $23,927,112. Corporate insiders own 4.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Okta from $165.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, August 27th. Evercore restated an “outperform” rating and issued a $240.00 target price on shares of Okta in a research note on Thursday, September 24th. Robert W. Baird upped their price target on Okta from $200.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, September 25th. Bank of America raised their price target on shares of Okta from $170.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, September 24th. Finally, Royal Bank Of Canada raised their price target on shares of Okta from $195.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $202.38.

Okta Price Performance

Okta stock opened at $208.64 on Thursday. The firm has a 50-day moving average of $183.23 and a 200-day moving average of $136.88. Okta, Inc. has a one year low of $62.66 and a one year high of $235.00. The company has a market cap of $36.47 billion, a price-to-earnings ratio of 125.69, a P/E/G ratio of 6.04 and a beta of 0.73.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, August 26th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.09. The company had revenue of $805.00 million during the quarter, compared to analysts’ expectations of $793.00 million. Okta had a return on equity of 4.50% and a net margin of 9.63%. Okta’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 EPS. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. As a group, sell-side analysts expect that Okta, Inc. will post 1.92 earnings per share for the current year.

Okta Company Profile

Okta, Inc provides cloud-based identity and access management solutions for organizations worldwide. Its platform helps businesses securely connect employees, contractors, customers and partners with the applications, systems and services they need to use.

The company’s offerings include single sign-on, multifactor authentication, identity governance, lifecycle management, directory services and privileged access management. Okta also provides customer identity solutions through Auth0, its developer-focused identity platform, which supports authentication and authorization for applications and digital experiences.

Okta serves enterprises, government agencies, small and medium-sized businesses, developers and other organizations across North America, Europe, Asia-Pacific and additional international markets.