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

Mediolanum International Funds Ltd reduced its stake in Okta, Inc. (NASDAQ:OKTA) by 47.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,343 shares of the company’s stock after selling 46,380 shares during the period. Mediolanum International Funds Ltd’s holdings in Okta were worth $3,950,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Elevation Wealth Partners LLC lifted its holdings in shares of Okta by 825.0% during the fourth quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock worth $26,000 after buying an additional 264 shares in the last quarter. SHP Wealth Management acquired a new position in shares of Okta in the fourth quarter valued at about $27,000. Torren Management LLC acquired a new position in shares of Okta in the fourth quarter valued at about $32,000. Spire Wealth Management increased its position in Okta by 30.8% during the fourth quarter. Spire Wealth Management now owns 505 shares of the company’s stock worth $44,000 after acquiring an additional 119 shares during the period. Finally, V Square Quantitative Management LLC bought a new position in Okta during the fourth quarter worth about $56,000. 86.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

OKTA has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on Okta from $100.00 to $150.00 and gave the company an “equal weight” rating in a research note on Monday. Royal Bank Of Canada raised their price objective on Okta from $108.00 to $122.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. The Goldman Sachs Group started coverage on Okta in a report on Monday, July 6th. They issued a “buy” rating for the company. Zacks Research downgraded Okta from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, Evercore assumed coverage on Okta in a report on Monday, July 6th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $121.81.

Okta Stock Down 0.6%

Shares of OKTA opened at $148.41 on Tuesday. The stock has a market cap of $25.80 billion, a PE ratio of 107.54, a PEG ratio of 5.37 and a beta of 0.77. Okta, Inc. has a 12-month low of $62.66 and a 12-month high of $157.00. The business has a 50-day simple moving average of $119.55 and a two-hundred day simple moving average of $94.54.

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

Insider Buying and Selling at Okta

In other news, insider Larissa Schwartz sold 2,463 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $120.00, for a total transaction of $295,560.00. Following the completion of the transaction, the insider owned 25,241 shares of the company’s stock, valued at approximately $3,028,920. This trade represents a 8.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Robert Kelleher sold 3,977 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $114.10, for a total transaction of $453,775.70. Following the transaction, the insider directly owned 19,618 shares of the company’s stock, valued at $2,238,413.80. The trade was a 16.86% 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 worth $22,534,353 over the last quarter. Insiders own 4.61% of the company’s stock.

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.