Robeco Schweiz AG acquired a new position in shares of Okta, Inc. (NASDAQ:OKTA – Free Report) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 55,900 shares of the company’s stock, valued at approximately $11,689,000.
A number of other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in Okta by 71.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock valued at $281,209,000 after buying an additional 1,485,963 shares during the period. Pictet Asset Management Holding SA raised its position in shares of Okta by 28.4% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company’s stock valued at $195,844,000 after buying an additional 550,328 shares in the last quarter. Swedbank AB raised its position in shares of Okta by 21.9% in the 1st quarter. Swedbank AB now owns 2,216,588 shares of the company’s stock valued at $174,468,000 after buying an additional 397,507 shares in the last quarter. Bank of America Corp DE raised its position in shares of Okta by 0.4% in the 1st quarter. Bank of America Corp DE now owns 1,496,896 shares of the company’s stock valued at $117,821,000 after buying an additional 6,533 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of Okta by 192.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 487,202 shares of the company’s stock worth $101,879,000 after acquiring an additional 320,849 shares during the period. 86.64% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CEO Todd McKinnon sold 48,822 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $193.48, for a total value of $9,446,080.56. Following the completion of the transaction, the chief executive officer owned 44,029 shares of the company’s stock, valued at $8,518,730.92. This represents a 52.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Kelleher sold 6,395 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $183.58, for a total transaction of $1,173,994.10. Following the completion of the sale, the insider owned 18,668 shares in the company, valued at $3,427,071.44. This represents a 25.52% 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. Insiders sold a total of 137,766 shares of company stock worth $23,927,112 in the last three months. 4.61% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
OKTA has been the topic of several analyst reports. Raymond James Financial increased their price target on shares of Okta from $115.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday, August 27th. Stephens lifted their price objective 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. Scotiabank restated an “outperform” rating on shares of Okta in a research report on Monday, September 28th. Citizens Jmp upped their target price on Okta from $180.00 to $225.00 and gave the stock a “market outperform” rating in a research note on Monday, September 28th. Finally, Evercore restated an “outperform” rating and set a $240.00 target price on shares of Okta in a research note on Thursday, September 24th. One analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.38.
Get Our Latest Stock Report on Okta
Okta Trading Up 5.8%
Shares of NASDAQ OKTA opened at $213.05 on Friday. The company has a market cap of $37.25 billion, a price-to-earnings ratio of 128.34, a PEG ratio of 6.63 and a beta of 0.73. Okta, Inc. has a 12 month low of $62.66 and a 12 month high of $235.00. The stock has a 50-day moving average price of $185.47 and a two-hundred day moving average price of $138.26.
Okta (NASDAQ:OKTA – Get Free Report) last posted its earnings results on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. Okta had a net margin of 9.63% and a return on equity of 4.50%. The firm had revenue of $805.00 million during the quarter, compared to analysts’ expectations of $793.00 million. During the same quarter in the prior year, the business 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. On average, sell-side analysts predict 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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