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

Robeco Institutional Asset Management B.V. lessened its holdings in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) by 54.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,163 shares of the company's stock after selling 49,644 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Okta were worth $3,817,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Okta by 0.8% during the third quarter. Vanguard Group Inc. now owns 15,281,123 shares of the company's stock worth $1,245,564,000 after purchasing an additional 123,216 shares during the period. Sands Capital Management LLC lifted its holdings in Okta by 2.4% in the third quarter. Sands Capital Management LLC now owns 5,871,958 shares of the company's stock valued at $478,623,000 after buying an additional 136,267 shares during the period. Cerity Partners LLC lifted its holdings in Okta by 6,192.3% in the fourth quarter. Cerity Partners LLC now owns 3,172,223 shares of the company's stock valued at $287,181,000 after buying an additional 3,121,809 shares during the period. Eminence Capital LP lifted its holdings in Okta by 7.7% in the third quarter. Eminence Capital LP now owns 1,599,703 shares of the company's stock valued at $130,392,000 after buying an additional 113,994 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Okta by 8.2% in the third quarter. Legal & General Group Plc now owns 1,150,442 shares of the company's stock valued at $93,773,000 after buying an additional 87,102 shares during the period. Institutional investors and hedge funds own 86.64% of the company's stock.

Wall Street Analysts Forecast Growth

OKTA has been the topic of several recent analyst reports. BMO Capital Markets boosted their target price on shares of Okta from $80.00 to $110.00 and gave the company a "market perform" rating in a report on Thursday, February 29th. Royal Bank of Canada boosted their target price on shares of Okta from $95.00 to $125.00 and gave the company an "outperform" rating in a report on Thursday, February 29th. The Goldman Sachs Group lifted their price target on shares of Okta from $105.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday, February 29th. Evercore ISI lifted their price target on shares of Okta from $70.00 to $102.00 and gave the company an "in-line" rating in a research note on Thursday, February 29th. Finally, Robert W. Baird lifted their price target on shares of Okta from $90.00 to $108.00 and gave the company an "outperform" rating in a research note on Thursday, February 29th. Twenty research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $101.84.

Okta Stock Down 0.5 %

OKTA stock traded down $0.51 during trading on Wednesday, reaching $100.87. The stock had a trading volume of 791,779 shares, compared to its average volume of 1,797,638. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.20. The company's 50 day moving average is $99.55 and its two-hundred day moving average is $89.18. The company has a market capitalization of $16.89 billion, a price-to-earnings ratio of -46.48 and a beta of 0.98.

Okta (NASDAQ:OKTA - Get Free Report) last released its earnings results on Wednesday, February 28th. The company reported ($0.14) earnings per share for the quarter, beating analysts' consensus estimates of ($0.49) by $0.35. The firm had revenue of $605.00 million for the quarter, compared to analysts' expectations of $586.25 million. Okta had a negative net margin of 15.69% and a negative return on equity of 5.69%. Equities research analysts forecast that Okta, Inc. will post -1.51 EPS for the current year.

Insider Buying and Selling at Okta

In other Okta news, Director Shellye L. Archambeau sold 5,000 shares of the business's stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $106.96, for a total value of $534,800.00. Following the transaction, the director now directly owns 6,042 shares in the company, valued at $646,252.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Shibu Ninan sold 4,279 shares of the company's stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $104.14, for a total transaction of $445,615.06. Following the sale, the chief accounting officer now directly owns 4,111 shares in the company, valued at approximately $428,119.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Shellye L. Archambeau sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $106.96, for a total transaction of $534,800.00. Following the sale, the director now owns 6,042 shares in the company, valued at $646,252.32. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company's stock.

Okta Company 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.