Mediolanum International Funds Ltd Has $5.61 Million Stock Holdings in Okta, Inc. $OKTA

Mediolanum International Funds Ltd raised its position in Okta, Inc. (NASDAQ:OKTA) by 57.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,741 shares of the company’s stock after purchasing an additional 21,841 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Okta were worth $5,607,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OKTA. Vanguard Group Inc. increased its position in Okta by 5.3% during the second quarter. Vanguard Group Inc. now owns 18,728,250 shares of the company’s stock worth $1,872,263,000 after buying an additional 935,364 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Okta by 9.1% during the 2nd quarter. First Trust Advisors LP now owns 4,901,123 shares of the company’s stock worth $489,966,000 after acquiring an additional 407,087 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Okta by 4.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,635,572 shares of the company’s stock valued at $425,082,000 after acquiring an additional 179,919 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Okta by 11.1% during the 2nd quarter. Geode Capital Management LLC now owns 3,155,011 shares of the company’s stock valued at $314,488,000 after acquiring an additional 314,525 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Okta in the 2nd quarter valued at approximately $211,923,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Okta

In related news, CEO Todd Mckinnon sold 11,286 shares of the stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $90.96, for a total value of $1,026,574.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Robert Kelleher sold 2,409 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $84.40, for a total transaction of $203,319.60. Following the transaction, the insider owned 11,266 shares of the company’s stock, valued at approximately $950,850.40. This represents a 17.62% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 36,727 shares of company stock worth $3,344,746. Insiders own 5.68% of the company’s stock.

Okta Trading Up 4.3%

Shares of OKTA stock opened at $88.13 on Tuesday. Okta, Inc. has a 12 month low of $75.05 and a 12 month high of $127.57. The company has a market capitalization of $15.62 billion, a P/E ratio of 80.85, a P/E/G ratio of 3.95 and a beta of 0.77. The stock has a 50 day moving average of $88.30 and a two-hundred day moving average of $89.80.

Okta (NASDAQ:OKTA) last issued its earnings results on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. Okta had a return on equity of 3.77% and a net margin of 6.87%.The business had revenue of $742.00 million during the quarter, compared to analyst estimates of $730.23 million. During the same period in the prior year, the company posted $0.67 earnings per share. Okta’s revenue was up 11.6% on a year-over-year basis. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. Sell-side analysts predict that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Okta declared that its Board of Directors has initiated a share buyback plan on Monday, January 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. BMO Capital Markets reduced their price objective on shares of Okta from $112.00 to $90.00 and set a “market perform” rating for the company in a research note on Wednesday, December 3rd. Royal Bank Of Canada lifted their target price on shares of Okta from $97.00 to $108.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. TD Cowen reissued a “hold” rating on shares of Okta in a research report on Wednesday, December 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Okta in a report on Thursday, January 22nd. Finally, Susquehanna dropped their price objective on Okta from $105.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 3rd. Twenty-five analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $113.88.

About Okta

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.