Robeco Institutional Asset Management B.V. Reduces Stock Holdings in Okta, Inc. (NASDAQ:OKTA)

Robeco Institutional Asset Management B.V. lowered its position in Okta, Inc. (NASDAQ:OKTA - Free Report) by 21.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 299,562 shares of the company's stock after selling 80,835 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.17% of Okta worth $31,520,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Marshall Wace LLP grew its holdings in shares of Okta by 35.5% in the fourth quarter. Marshall Wace LLP now owns 3,583,937 shares of the company's stock valued at $282,414,000 after purchasing an additional 938,509 shares during the period. Norges Bank purchased a new stake in shares of Okta in the fourth quarter valued at about $234,992,000. Geode Capital Management LLC grew its holdings in shares of Okta by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 2,700,216 shares of the company's stock valued at $212,385,000 after purchasing an additional 135,110 shares during the period. Point72 Asset Management L.P. boosted its stake in Okta by 236.8% during the fourth quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock worth $176,271,000 after buying an additional 1,572,786 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in Okta by 2,135.7% during the fourth quarter. Ameriprise Financial Inc. now owns 1,914,254 shares of the company's stock worth $150,845,000 after buying an additional 1,828,630 shares during the period. Hedge funds and other institutional investors own 86.64% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on OKTA. Barclays lowered their target price on shares of Okta from $135.00 to $120.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 28th. Mizuho lowered their target price on shares of Okta from $135.00 to $130.00 and set an "outperform" rating for the company in a research note on Wednesday, May 28th. Needham & Company LLC increased their target price on shares of Okta from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Royal Bank Of Canada lowered their target price on shares of Okta from $143.00 to $135.00 and set an "outperform" rating for the company in a research note on Wednesday, May 28th. Finally, UBS Group lowered their target price on shares of Okta from $150.00 to $130.00 and set a "buy" rating for the company in a research note on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $121.59.

Insiders Place Their Bets

In other news, insider Larissa Schwartz sold 2,244 shares of Okta stock in a transaction on Friday, June 20th. The shares were sold at an average price of $100.00, for a total value of $224,400.00. Following the transaction, the insider now directly owns 23,640 shares of the company's stock, valued at $2,364,000. The trade was a 8.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Jonathan James Addison sold 7,005 shares of Okta stock in a transaction on Friday, April 11th. The shares were sold at an average price of $101.19, for a total transaction of $708,835.95. Following the completion of the transaction, the executive now directly owns 19,067 shares in the company, valued at $1,929,389.73. The trade was a 26.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,935 shares of company stock valued at $1,100,347. 5.68% of the stock is owned by corporate insiders.

Okta Stock Up 0.3%

OKTA stock opened at $98.43 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.05. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $127.57. The company's 50 day moving average is $109.10 and its two-hundred day moving average is $99.89. The stock has a market cap of $17.23 billion, a P/E ratio of 156.24, a PEG ratio of 4.75 and a beta of 0.84.

Okta (NASDAQ:OKTA - Get Free Report) last released its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.09. Okta had a net margin of 4.85% and a return on equity of 2.79%. The company had revenue of $688.00 million for the quarter, compared to analysts' expectations of $680.14 million. During the same quarter last year, the company earned $0.65 earnings per share. The firm's revenue for the quarter was up 11.5% on a year-over-year basis. Research analysts expect that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

About Okta

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.

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