Mediolanum International Funds Ltd Makes New Investment in Okta, Inc. (NASDAQ:OKTA)

Mediolanum International Funds Ltd acquired a new stake in shares of Okta, Inc. (NASDAQ:OKTA - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 7,861 shares of the company's stock, valued at approximately $581,000.

A number of other large investors also recently modified their holdings of OKTA. Future Financial Wealth Managment LLC bought a new position in Okta in the 3rd quarter worth approximately $26,000. Blue Trust Inc. lifted its holdings in shares of Okta by 105.5% in the third quarter. Blue Trust Inc. now owns 372 shares of the company's stock worth $28,000 after buying an additional 191 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Okta by 71.4% during the first quarter. EverSource Wealth Advisors LLC now owns 341 shares of the company's stock worth $36,000 after acquiring an additional 142 shares during the last quarter. First Command Advisory Services Inc. purchased a new position in Okta during the second quarter valued at $47,000. Finally, nVerses Capital LLC bought a new stake in Okta in the 2nd quarter valued at $47,000. Hedge funds and other institutional investors own 86.64% of the company's stock.

Insider Buying and Selling

In other Okta news, CRO Jonathan James Addison sold 9,850 shares of the company's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $77.63, for a total value of $764,655.50. Following the completion of the transaction, the executive now owns 14,601 shares in the company, valued at approximately $1,133,475.63. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CRO Jonathan James Addison sold 9,850 shares of the business's stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $77.63, for a total value of $764,655.50. Following the completion of the sale, the executive now directly owns 14,601 shares in the company, valued at $1,133,475.63. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Todd Mckinnon sold 224,533 shares of the company's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $74.62, for a total value of $16,754,652.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 475,793 shares of company stock valued at $35,759,000. Corporate insiders own 7.00% of the company's stock.

Wall Street Analyst Weigh In

OKTA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their price objective on Okta from $110.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, August 29th. Westpark Capital restated a "buy" rating and set a $140.00 price target on shares of Okta in a report on Thursday, August 29th. Bank of America cut Okta from a "buy" rating to an "underperform" rating and decreased their price objective for the stock from $135.00 to $75.00 in a report on Thursday, August 29th. Truist Financial cut their target price on shares of Okta from $95.00 to $80.00 and set a "hold" rating for the company in a report on Thursday, October 17th. Finally, Piper Sandler decreased their price target on shares of Okta from $100.00 to $85.00 and set a "neutral" rating on the stock in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Okta currently has an average rating of "Hold" and a consensus price target of $98.96.

Okta Stock Performance

Shares of OKTA stock opened at $73.16 on Monday. The stock has a market cap of $12.43 billion, a PE ratio of -86.00, a price-to-earnings-growth ratio of 17.14 and a beta of 1.02. Okta, Inc. has a 52-week low of $65.04 and a 52-week high of $114.50. The business has a 50-day simple moving average of $78.29 and a 200-day simple moving average of $88.14. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.18.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 28th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.29. The company had revenue of $646.00 million during the quarter, compared to the consensus estimate of $632.24 million. Okta had a negative return on equity of 1.10% and a negative net margin of 5.55%. On average, equities analysts expect that Okta, Inc. will post 0.19 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.