Mediolanum International Funds Ltd Has $3.95 Million Stock Position in Okta, Inc. $OKTA

Mediolanum International Funds Ltd lowered its stake in Okta, Inc. (NASDAQ:OKTA) by 47.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 52,343 shares of the company’s stock after selling 46,380 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Okta were worth $3,950,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Kera Capital Partners Inc. raised its holdings in shares of Okta by 18.4% during the first quarter. Kera Capital Partners Inc. now owns 6,394 shares of the company’s stock worth $503,000 after acquiring an additional 993 shares during the period. Assetmark Inc. boosted its stake in Okta by 81.1% in the 1st quarter. Assetmark Inc. now owns 719 shares of the company’s stock worth $57,000 after purchasing an additional 322 shares during the period. Bessemer Group Inc. boosted its stake in Okta by 2.1% in the 1st quarter. Bessemer Group Inc. now owns 32,752 shares of the company’s stock worth $2,576,000 after purchasing an additional 682 shares during the period. SteelPeak Wealth LLC increased its holdings in Okta by 2.8% during the 1st quarter. SteelPeak Wealth LLC now owns 5,166 shares of the company’s stock worth $407,000 after purchasing an additional 140 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Okta by 71.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock worth $281,209,000 after purchasing an additional 1,485,963 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Performance

NASDAQ:OKTA opened at $148.41 on Tuesday. Okta, Inc. has a 52-week low of $62.66 and a 52-week high of $157.00. The company has a market cap of $25.80 billion, a P/E ratio of 107.54, a P/E/G ratio of 5.37 and a beta of 0.77. The stock’s 50-day simple moving average is $119.55 and its 200 day simple moving average is $94.54.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. The firm had revenue of $765.00 million during the quarter, compared to analysts’ expectations of $751.84 million. Okta had a return on equity of 4.15% and a net margin of 8.24%.The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.86 earnings per share. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. As a group, equities analysts predict that Okta, Inc. will post 1.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

OKTA has been the topic of several recent research reports. HC Wainwright started coverage on Okta in a research note on Monday, July 6th. They issued a “buy” rating on the stock. Scotiabank raised Okta from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $135.00 to $165.00 in a research report on Monday, July 6th. Royal Bank Of Canada increased their price objective on Okta from $108.00 to $122.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Morgan Stanley began coverage on Okta in a research note on Monday, July 6th. They issued a “neutral” rating on the stock. Finally, Barclays upped their price target on Okta from $93.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $121.81.

Insiders Place Their Bets

In other Okta news, CFO Brett Tighe sold 65,000 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $117.25, for a total value of $7,621,250.00. Following the completion of the sale, the chief financial officer owned 119,680 shares in the company, valued at $14,032,480. This trade represents a 35.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd Mckinnon sold 68,936 shares of Okta stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $146.62, for a total transaction of $10,107,396.32. Following the completion of the transaction, the chief executive officer directly owned 38,484 shares of the company’s stock, valued at approximately $5,642,524.08. This trade represents a 64.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 174,224 shares of company stock valued at $22,534,353 in the last ninety days. 4.61% of the stock is currently owned by insiders.

Okta Company Profile

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.