Elo Mutual Pension Insurance Co Buys 15,058 Shares of Okta, Inc. $OKTA

Elo Mutual Pension Insurance Co lifted its stake in shares of Okta, Inc. (NASDAQ:OKTA) by 40.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,597 shares of the company’s stock after acquiring an additional 15,058 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Okta were worth $4,823,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in OKTA. Promus Capital LLC acquired a new position in Okta in the 2nd quarter worth $27,000. Root Financial Partners LLC bought a new stake in shares of Okta in the third quarter valued at about $26,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Okta during the third quarter worth about $34,000. Westside Investment Management Inc. grew its holdings in shares of Okta by 86.9% during the third quarter. Westside Investment Management Inc. now owns 415 shares of the company’s stock worth $38,000 after buying an additional 193 shares in the last quarter. Finally, Financial Consulate Inc. bought a new position in shares of Okta during the third quarter worth about $40,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Brett Tighe sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $95.07, for a total transaction of $950,700.00. Following the transaction, the chief financial officer directly owned 134,385 shares of the company’s stock, valued at approximately $12,775,981.95. The trade was a 6.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd Mckinnon sold 11,286 shares of the company’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $90.96, for a total transaction of $1,026,574.56. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 37,245 shares of company stock valued at $3,385,624. 5.68% of the stock is owned by insiders.

Analyst Ratings Changes

OKTA has been the subject of a number of recent research reports. BMO Capital Markets reduced their price target on Okta from $90.00 to $83.00 and set a “market perform” rating for the company in a research report on Thursday, February 26th. Stifel Nicolaus cut their price objective on shares of Okta from $130.00 to $121.00 and set a “buy” rating on the stock in a research report on Wednesday, December 3rd. Scotiabank decreased their target price on shares of Okta from $105.00 to $85.00 and set a “sector perform” rating for the company in a research report on Wednesday, December 3rd. Susquehanna lowered their price target on shares of Okta from $105.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 3rd. Finally, DA Davidson set a $110.00 price target on shares of Okta in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $109.26.

Okta News Roundup

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Analysts and previews flag potential upside from Q4 trends — Zacks and other previews expect steady revenue growth, rising RPO and continued AI/security momentum that could support the stock around the upcoming report. Okta Set to Report Q4 Earnings
• Positive Sentiment: Robert W. Baird (reported via TipRanks) maintained a Buy rating and a $125 price target, signaling continued conviction from at least one buy‑side analyst. Baird Buy Rating
• Positive Sentiment: Okta announced management will present at an upcoming investor conference — a visibility event that can help reinforce guidance and sell‑side dialogue ahead of earnings. Okta to Present at Upcoming Investor Conference
• Neutral Sentiment: Market commentary is asking whether the recent share slide leaves Okta undervalued; that narrative can attract value investors but also highlights ongoing caution. Is It Time To Reconsider Okta
• Neutral Sentiment: Profile pieces on Okta executives and engineering/security leadership add context but are unlikely to move the stock materially near term. Executive Profile
• Negative Sentiment: BMO Capital trimmed its price target to $83 and kept a Market Perform rating — a notable downgrade that signals more cautious near‑term expectations from that shop. BMO Capital Expects Solid Q1
• Negative Sentiment: Several sell‑side shops have reduced targets recently (Jefferies: $125 → $105; BTIG: $116 → $90; Cantor Fitzgerald: lowered to $100), which increases headline risk and could cap near‑term upside even where ratings remain Buy. Jefferies/BTIG Price Target Cuts Cantor Fitzgerald Cuts PT

Okta Price Performance

Shares of OKTA opened at $73.97 on Tuesday. The company has a market cap of $13.11 billion, a PE ratio of 67.86, a price-to-earnings-growth ratio of 2.81 and a beta of 0.79. The firm has a 50-day moving average of $86.06 and a 200-day moving average of $87.76. Okta, Inc. has a one year low of $68.77 and a one year high of $127.57.

Okta (NASDAQ:OKTA) last issued its earnings results on Tuesday, December 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.06. The business had revenue of $742.00 million during the quarter, compared to the consensus estimate of $730.23 million. Okta had a net margin of 6.87% and a return on equity of 3.77%. Okta’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the business posted $0.67 EPS. Analysts expect that Okta, Inc. will post 0.42 earnings per share for the current year.

Okta announced that its Board of Directors has initiated a share repurchase program on Monday, January 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 6.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.