Okta, Inc. $OKTA Shares Purchased by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. boosted its Okta stake by 52.9% in Q4, adding 161,069 shares to hold 465,370 shares (about 0.26% of the company) worth roughly $40.24 million.
• Okta beat the quarter with $0.90 EPS versus $0.85 expected and $761 million in revenue (up 11.6% YoY), provided FY2027 guidance of $3.740–3.820 EPS and Q1 2027 guidance of $0.840–0.860 EPS, and its board authorized a $1.00 billion share buyback (up to 6.8% of outstanding shares).
• Analyst sentiment is a "Moderate Buy" with a consensus price target of $103.25, although several firms recently trimmed price targets (e.g., Truist, Morgan Stanley, Jefferies).

Robeco Institutional Asset Management B.V. grew its stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 52.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 465,370 shares of the company's stock after acquiring an additional 161,069 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.26% of Okta worth $40,241,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Root Financial Partners LLC acquired a new position in shares of Okta during the third quarter valued at about $26,000. Elevation Wealth Partners LLC increased its holdings in shares of Okta by 825.0% during the fourth quarter. Elevation Wealth Partners LLC now owns 296 shares of the company's stock valued at $26,000 after acquiring an additional 264 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Okta during the third quarter valued at about $34,000. Westside Investment Management Inc. increased its holdings in shares of Okta by 86.9% during the third quarter. Westside Investment Management Inc. now owns 415 shares of the company's stock valued at $38,000 after acquiring an additional 193 shares in the last quarter. Finally, Financial Consulate Inc. acquired a new position in shares of Okta during the third quarter valued at about $40,000. Institutional investors and hedge funds own 86.64% of the company's stock.

Okta Stock Up 4.0%

Shares of NASDAQ OKTA opened at $65.47 on Tuesday. The business's 50 day moving average price is $78.53 and its 200 day moving average price is $84.70. The firm has a market cap of $11.58 billion, a P/E ratio of 49.98, a P/E/G ratio of 2.46 and a beta of 0.76. Okta, Inc. has a 52 week low of $62.66 and a 52 week high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last issued its earnings results on Wednesday, March 4th. The company reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.85 by $0.05. The firm had revenue of $761.00 million for the quarter, compared to analyst estimates of $749.87 million. Okta had a return on equity of 4.18% and a net margin of 8.05%.Okta's revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 earnings per share. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. As a group, research analysts expect that Okta, Inc. will post 0.42 earnings per share for the current year.

Okta announced that its board has approved a stock buyback program on Monday, January 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other Okta news, insider Eric Robert Kelleher sold 2,409 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $80.00, for a total value of $192,720.00. Following the sale, the insider owned 15,470 shares in the company, valued at approximately $1,237,600. This represents a 13.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 6,377 shares of the company's stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $79.75, for a total value of $508,565.75. Following the completion of the sale, the insider owned 54,825 shares in the company, valued at approximately $4,372,293.75. This represents a 10.42% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 63,843 shares of company stock worth $5,071,889. 5.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

OKTA has been the topic of several recent analyst reports. Truist Financial cut their price objective on shares of Okta from $115.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, March 5th. Morgan Stanley cut their price objective on shares of Okta from $110.00 to $101.00 and set an "overweight" rating on the stock in a report on Thursday, March 5th. Scotiabank cut their price objective on shares of Okta from $85.00 to $80.00 and set a "sector perform" rating on the stock in a report on Thursday, March 5th. Jefferies Financial Group cut their price objective on shares of Okta from $125.00 to $105.00 and set a "buy" rating on the stock in a report on Monday, March 2nd. Finally, DA Davidson reiterated a "buy" rating and issued a $110.00 target price on shares of Okta in a research report on Thursday, March 5th. Twenty-six investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $103.25.

About Okta

Okta, Inc is a publicly traded provider of identity and access management solutions, headquartered in San Francisco, California. Founded in 2009 by Todd McKinnon and Frederic Kerrest, the company completed its initial public offering in April 2017. Under the leadership of McKinnon as chief executive officer and Kerrest as chief operating officer, Okta has grown into a leading vendor in the cybersecurity space, focusing on secure user authentication, single sign-on and lifecycle management for digital identities.

At the core of Okta's offering is the Okta Identity Cloud, a suite of cloud-native services that enable organizations to manage user access across web and mobile applications, on-premises systems and APIs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.