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

Robeco Institutional Asset Management B.V. cut its holdings in Okta, Inc. (NASDAQ:OKTA) by 4.1% during 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 0.22% of Okta worth $29,975,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new stake in Okta in the third quarter valued at $49,373,000. Nordea Investment Management AB increased its position in shares of Okta by 1,150.2% during the 4th quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock worth $33,146,000 after purchasing an additional 382,190 shares during the last quarter. Truist Financial Corp raised its holdings in Okta by 62.5% in the 2nd quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock valued at $48,870,000 after buying an additional 200,770 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Okta by 105.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock valued at $26,627,000 after buying an additional 184,107 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its stake in Okta by 126.0% during the third quarter. Quantinno Capital Management LP now owns 224,360 shares of the company’s stock worth $16,679,000 after buying an additional 125,074 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Brett Tighe sold 5,000 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $94.56, for a total value of $472,800.00. Following the completion of the sale, the chief financial officer now owns 102,533 shares in the company, valued at $9,695,520.48. This represents a 4.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Larissa Schwartz sold 2,704 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $80.50, for a total transaction of $217,672.00. Following the sale, the insider now owns 24,462 shares of the company’s stock, valued at approximately $1,969,191. This represents a 9.95 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 910,959 shares of company stock valued at $78,146,525. Insiders own 7.00% of the company’s stock.

Okta Price Performance

Shares of OKTA opened at $93.76 on Friday. The firm has a fifty day moving average price of $83.72 and a 200 day moving average price of $82.23. The stock has a market cap of $16.07 billion, a PE ratio of -267.89, a price-to-earnings-growth ratio of 8.95 and a beta of 1.00. Okta, Inc. has a 1-year low of $70.56 and a 1-year high of $114.50. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.34 and a quick ratio of 1.34.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on OKTA. Morgan Stanley raised shares of Okta from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $92.00 to $97.00 in a research note on Monday, December 2nd. DA Davidson upped their price target on Okta from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Susquehanna lifted their price objective on Okta from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. raised Okta from a “neutral” rating to an “overweight” rating and set a $100.00 target price on the stock in a research note on Monday, December 16th. Finally, Canaccord Genuity Group lifted their target price on Okta from $82.00 to $94.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $104.55.

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.