Elo Mutual Pension Insurance Co Boosts Stock Holdings in Okta, Inc. $OKTA

Elo Mutual Pension Insurance Co grew its holdings in Okta, Inc. (NASDAQ:OKTA) by 31.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,539 shares of the company’s stock after purchasing an additional 8,970 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Okta were worth $3,753,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Harbour Investments Inc. grew its stake in Okta by 152.4% in the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock valued at $27,000 after buying an additional 157 shares in the last quarter. Pinnacle Bancorp Inc. bought a new position in shares of Okta in the second quarter worth $26,000. Cullen Frost Bankers Inc. grew its position in shares of Okta by 88.3% in the second quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock valued at $34,000 after purchasing an additional 159 shares in the last quarter. Kiker Wealth Management LLC raised its stake in shares of Okta by 1,159.3% during the 2nd quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock valued at $34,000 after purchasing an additional 313 shares during the period. Finally, V Square Quantitative Management LLC lifted its holdings in Okta by 126.0% during the 2nd quarter. V Square Quantitative Management LLC now owns 504 shares of the company’s stock worth $50,000 after purchasing an additional 281 shares in the last quarter. 86.64% of the stock is owned by institutional investors.

Insider Buying and Selling at Okta

In other Okta news, insider Eric Robert Kelleher sold 2,410 shares of Okta stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $91.73, for a total transaction of $221,069.30. Following the completion of the sale, the insider owned 9,174 shares of the company’s stock, valued at $841,531.02. The trade was a 20.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Larissa Schwartz sold 1,318 shares of the stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $85.26, for a total value of $112,372.68. Following the transaction, the insider owned 36,519 shares in the company, valued at $3,113,609.94. This trade represents a 3.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 64,975 shares of company stock valued at $6,011,126. 5.68% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on OKTA. Westpark Capital reaffirmed a “buy” rating and set a $140.00 target price on shares of Okta in a report on Wednesday, August 27th. BMO Capital Markets lowered their price target on shares of Okta from $132.00 to $112.00 and set a “market perform” rating on the stock in a report on Wednesday, August 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $125.00 price objective on shares of Okta in a research note on Wednesday, August 27th. Jefferies Financial Group set a $90.00 target price on shares of Okta in a research note on Tuesday. Finally, Canaccord Genuity Group raised shares of Okta from a “hold” rating to a “buy” rating and raised their price target for the company from $115.00 to $120.00 in a report on Tuesday, August 26th. Twenty-three investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Okta has a consensus rating of “Moderate Buy” and an average target price of $116.50.

Okta Price Performance

Shares of NASDAQ:OKTA opened at $81.16 on Wednesday. The company’s fifty day moving average price is $88.21 and its 200-day moving average price is $95.62. The firm has a market capitalization of $14.21 billion, a price-to-earnings ratio of 95.48, a PEG ratio of 3.89 and a beta of 0.84. Okta, Inc. has a one year low of $74.81 and a one year high of $127.57.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. The company had revenue of $728,000 billion during the quarter, compared to the consensus estimate of $711.84 million. Okta had a net margin of 6.08% and a return on equity of 3.31%. The firm’s revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.72 EPS. As a group, equities research analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

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.