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

Robeco Institutional Asset Management B.V. lowered its position in Okta, Inc. (NASDAQ:OKTA) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 380,397 shares of the company’s stock after selling 16,141 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Okta were worth $29,975,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new stake in shares of Okta in the 3rd quarter valued at approximately $49,373,000. Nordea Investment Management AB lifted its holdings in Okta by 1,150.2% in the fourth quarter. Nordea Investment Management AB now owns 415,418 shares of the company’s stock valued at $33,146,000 after acquiring an additional 382,190 shares during the period. Truist Financial Corp boosted its position in shares of Okta by 62.5% during the 2nd quarter. Truist Financial Corp now owns 522,057 shares of the company’s stock worth $48,870,000 after purchasing an additional 200,770 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Okta by 105.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 358,182 shares of the company’s stock worth $26,627,000 after purchasing an additional 184,107 shares during the period. Finally, Quantinno Capital Management LP increased its holdings in shares of Okta by 126.0% in the 3rd quarter. Quantinno Capital Management LP now owns 224,360 shares of the company’s stock valued at $16,679,000 after purchasing an additional 125,074 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insider Buying and Selling

In other news, Director Jacques Frederic Kerrest sold 3,306 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $88.85, for a total value of $293,738.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Larissa Schwartz sold 2,791 shares of the company’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $71.50, for a total transaction of $199,556.50. Following the sale, the insider now directly owns 22,125 shares of the company’s stock, valued at approximately $1,581,937.50. This trade represents a 11.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 910,959 shares of company stock valued at $78,146,525. 7.00% of the stock is currently owned by company insiders.

Okta Stock Down 0.3 %

Shares of OKTA opened at $93.76 on Friday. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $114.50. The company’s fifty day moving average is $83.72 and its two-hundred day moving average is $82.23. The firm 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. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Wall Street Analysts Forecast Growth

OKTA has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price objective on shares of Okta from $97.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Morgan Stanley upgraded Okta from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $92.00 to $97.00 in a report on Monday, December 2nd. JMP Securities reaffirmed a “market perform” rating on shares of Okta in a research note on Wednesday, December 4th. Westpark Capital reiterated a “buy” rating and set a $140.00 target price on shares of Okta in a research report on Wednesday, December 4th. Finally, KeyCorp upgraded Okta from a “sector weight” rating to an “overweight” rating and set a $115.00 price target for the company in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target 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.