55,900 Shares of Okta, Inc. $OKTA Acquired by Robeco Schweiz AG

Key Points

• Robeco Schweiz AG acquired 55,900 Okta shares worth approximately $11.7 million in the third quarter. Institutional investors and hedge funds collectively own 86.64% of Okta’s outstanding stock.
• Analysts remain broadly positive, with Okta receiving a “Moderate Buy” consensus rating and an average price target of $202.38; several firms recently raised their targets, including Stephens to $240.
• Okta’s latest quarter exceeded expectations, reporting adjusted EPS of $1.05 versus the $0.96 consensus and revenue of $805 million, up 10.6% year over year. Meanwhile, company insiders sold 137,766 shares worth approximately $23.9 million during the quarter.

Robeco Schweiz AG acquired a new position in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 55,900 shares of the company's stock, valued at approximately $11,689,000.

A number of other large investors also recently modified their holdings of OKTA. Allspring Global Investments Holdings LLC increased its position in shares of Okta by 71.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company's stock valued at $281,209,000 after acquiring an additional 1,485,963 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in Okta by 28.4% during 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 during the last quarter. Swedbank AB boosted its position in Okta by 21.9% during the first quarter. Swedbank AB now owns 2,216,588 shares of the company's stock valued at $174,468,000 after purchasing an additional 397,507 shares during the last quarter. Bank of America Corp DE boosted its position in Okta by 0.4% during the first quarter. Bank of America Corp DE now owns 1,496,896 shares of the company's stock valued at $117,821,000 after purchasing an additional 6,533 shares during the last quarter. Finally, Senvest Management LLC grew its stake in Okta by 54.5% in the first quarter. Senvest Management LLC now owns 830,515 shares of the company's stock valued at $65,370,000 after purchasing an additional 292,900 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OKTA has been the topic of several recent analyst reports. Wall Street Zen lowered Okta from a "buy" rating to a "hold" rating in a research report on Monday, October 12th. Scotiabank reiterated an "outperform" rating on shares of Okta in a research note on Monday, September 28th. The Goldman Sachs Group increased their price objective on Okta from $126.00 to $203.00 and gave the company a "buy" rating in a report on Friday, August 28th. Stephens raised their target price on shares of Okta from $190.00 to $240.00 and gave the company an "overweight" rating in a research note on Friday, September 25th. Finally, Canaccord Genuity Group raised their target price on shares of Okta from $115.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, Okta has an average rating of "Moderate Buy" and an average price target of $202.38.

Insider Activity at Okta

In other Okta news, CFO Brett Tighe sold 41,251 shares of Okta stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $162.44, for a total transaction of $6,700,812.44. Following the completion of the transaction, the chief financial officer directly owned 7,693 shares of the company's stock, valued at $1,249,650.92. The trade was a 84.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through 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 company's stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $193.48, for a total transaction of $9,446,080.56. Following the completion of the transaction, the chief executive officer owned 44,029 shares in the company, valued at approximately $8,518,730.92. This represents a 52.58% decrease in their ownership of the stock. 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. In the last quarter, insiders have sold 137,766 shares of company stock worth $23,927,112. Company insiders own 4.61% of the company's stock.

Okta Stock Performance

Okta stock opened at $213.05 on Friday. Okta, Inc. has a 52 week low of $62.66 and a 52 week high of $235.00. The stock has a market capitalization of $37.25 billion, a P/E ratio of 128.34, a PEG ratio of 6.63 and a beta of 0.73. The stock has a 50-day simple moving average of $185.47 and a 200 day simple moving average of $138.26.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings data on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.09. Okta had a return on equity of 4.50% and a net margin of 9.63%. The firm had revenue of $805.00 million for the quarter, compared to analyst estimates of $793.00 million. During the same quarter in the prior year, the company earned $0.91 earnings per share. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. 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 forecast 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.

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