Okta, Inc. $OKTA Stake Raised by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lifted its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 192.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 487,202 shares of the company’s stock after buying an additional 320,849 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.28% of Okta worth $101,879,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Burkett Financial Services LLC bought a new position in Okta in the third quarter valued at approximately $26,000. Polaris Financial Partners acquired a new stake in Okta during the 3rd quarter worth $36,000. Washington Trust Advisors Inc. raised its position in shares of Okta by 64.2% during the 2nd quarter. Washington Trust Advisors Inc. now owns 197 shares of the company’s stock valued at $27,000 after acquiring an additional 77 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Okta by 279.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 296 shares of the company’s stock valued at $40,000 after acquiring an additional 218 shares during the last quarter. Finally, Western Pacific Wealth Management LP bought a new stake in shares of Okta during the 3rd quarter valued at $63,000. 86.64% of the stock is owned by institutional investors.

Okta Stock Up 7.5%

Shares of OKTA stock opened at $208.64 on Thursday. Okta, Inc. has a 12-month low of $62.66 and a 12-month high of $235.00. The firm has a market capitalization of $36.47 billion, a price-to-earnings ratio of 125.69, a price-to-earnings-growth ratio of 6.04 and a beta of 0.73. The firm has a fifty day moving average of $183.23 and a 200-day moving average of $136.88.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.09. The business had revenue of $805.00 million during the quarter, compared to analysts’ expectations of $793.00 million. Okta had a net margin of 9.63% and a return on equity of 4.50%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior 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. Research analysts expect that Okta, Inc. will post 1.92 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on OKTA shares. Susquehanna upped their price objective on Okta from $110.00 to $185.00 and gave the company a “neutral” rating in a report on Friday, August 28th. BMO Capital Markets raised their target price on Okta from $230.00 to $245.00 and gave the stock an “outperform” rating in a report on Friday, October 9th. Evercore restated an “outperform” rating and set a $240.00 target price on shares of Okta in a report on Thursday, September 24th. Oppenheimer boosted their target price on Okta from $190.00 to $227.00 and gave the stock an “outperform” rating in a research report on Thursday, September 24th. Finally, New Street Research set a $235.00 price target on Okta in a research note on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $202.38.

Insiders Place Their Bets

In other news, CFO Brett Tighe sold 41,251 shares of Okta stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $162.44, for a total transaction of $6,700,812.44. Following the transaction, the chief financial officer owned 7,693 shares in the company, valued at $1,249,650.92. The trade was a 84.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 shares were sold at an average price of $193.48, for a total value of $9,446,080.56. Following the completion of the transaction, the chief executive officer owned 44,029 shares of the company’s stock, valued at $8,518,730.92. This represents a 52.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 137,766 shares of company stock worth $23,927,112 over the last ninety days. 4.61% of the stock is currently owned by corporate insiders.

About Okta

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.