Ilmarinen Mutual Pension Insurance Co Sells 48,000 Shares of Okta, Inc. $OKTA

Key Points

• Ilmarinen Mutual Pension Insurance Co reduced its stake in Okta, Inc. by 64%, selling 48,000 shares and leaving it with 27,000 shares worth approximately $2.84 million.
• Okta reported a quarterly earnings per share (EPS) of $0.91, surpassing expectations, as well as a 12.7% year-over-year increase in revenue.
• Analysts have mixed ratings on Okta, with price targets ranging from $105 to $132, and the stock currently has an average rating of "Moderate Buy."

Ilmarinen Mutual Pension Insurance Co reduced its stake in Okta, Inc. (NASDAQ:OKTA - Free Report) by 64.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,000 shares of the company's stock after selling 48,000 shares during the period. Ilmarinen Mutual Pension Insurance Co's holdings in Okta were worth $2,841,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of OKTA. Massachusetts Financial Services Co. MA boosted its holdings in shares of Okta by 325.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,699,944 shares of the company's stock valued at $389,308,000 after purchasing an additional 2,830,582 shares during the period. Alkeon Capital Management LLC bought a new stake in Okta during the 1st quarter valued at $199,918,000. Ninety One UK Ltd purchased a new stake in shares of Okta in the 1st quarter worth $189,915,000. Point72 Asset Management L.P. grew its position in shares of Okta by 236.8% during the 4th quarter. Point72 Asset Management L.P. now owns 2,236,942 shares of the company's stock worth $176,271,000 after buying an additional 1,572,786 shares in the last quarter. Finally, Sachem Head Capital Management LP purchased a new position in shares of Okta during the fourth quarter valued at $105,592,000. 86.64% of the stock is owned by hedge funds and other institutional investors.

Okta Trading Down 3.9%

NASDAQ OKTA opened at $90.21 on Thursday. The firm's fifty day simple moving average is $93.77 and its two-hundred day simple moving average is $101.97. Okta, Inc. has a 12-month low of $70.81 and a 12-month high of $127.57. The firm has a market capitalization of $15.79 billion, a P/E ratio of 106.13, a P/E/G ratio of 4.57 and a beta of 0.83.

Okta (NASDAQ:OKTA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.84 by $0.07. The firm had revenue of $728,000 billion during the quarter, compared to analyst estimates of $711.84 million. Okta had a return on equity of 3.31% and a net margin of 6.08%.The business's revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 EPS. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. As a group, sell-side analysts predict that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Okta news, CFO Brett Tighe sold 10,000 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the completion of the sale, the chief financial officer owned 132,288 shares of the company's stock, valued at approximately $12,567,360. This trade represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Todd Mckinnon sold 31,592 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $95.30, for a total value of $3,010,717.60. Following the sale, the chief executive officer owned 20,682 shares in the company, valued at $1,970,994.60. The trade was a 60.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 88,594 shares of company stock valued at $8,382,790 in the last 90 days. 5.68% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. BMO Capital Markets lowered their price objective on shares of Okta from $132.00 to $112.00 and set a "market perform" rating for the company in a research note on Wednesday, August 27th. Barclays upped their price target on shares of Okta from $100.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 27th. UBS Group cut their price objective on shares of Okta from $150.00 to $130.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. Canaccord Genuity Group raised shares of Okta from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $115.00 to $120.00 in a research note on Tuesday, August 26th. Finally, Jefferies Financial Group increased their target price on Okta from $100.00 to $105.00 and gave the company a "hold" rating in a research report on Wednesday, August 27th. Twenty-two analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Okta currently has an average rating of "Moderate Buy" and a consensus price target of $118.25.

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.

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