Blue Zone Wealth Advisors LLC Purchases 1,917 Shares of Okta, Inc. $OKTA

Blue Zone Wealth Advisors LLC increased its position in Okta, Inc. (NASDAQ:OKTA) by 9.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 22,687 shares of the company’s stock after buying an additional 1,917 shares during the quarter. Blue Zone Wealth Advisors LLC’s holdings in Okta were worth $2,268,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Costello Asset Management INC bought a new stake in Okta in the 2nd quarter worth approximately $70,000. IFP Advisors Inc lifted its position in Okta by 80.6% in the 2nd quarter. IFP Advisors Inc now owns 1,562 shares of the company’s stock worth $156,000 after buying an additional 697 shares during the last quarter. Callan Family Office LLC bought a new stake in Okta in the 2nd quarter worth approximately $399,000. GFG Capital LLC bought a new stake in Okta in the 2nd quarter worth approximately $1,890,000. Finally, US Bancorp DE lifted its position in Okta by 478.0% in the 2nd quarter. US Bancorp DE now owns 408,888 shares of the company’s stock worth $40,877,000 after buying an additional 338,143 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Insider Transactions at Okta

In other news, CEO Todd Mckinnon sold 31,968 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $92.33, for a total value of $2,951,605.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Larissa Schwartz sold 1,318 shares of the stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $91.65, for a total value of $120,794.70. Following the completion of the sale, the insider directly owned 37,837 shares in the company, valued at approximately $3,467,761.05. This represents a 3.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 148,321 shares of company stock valued at $13,890,032. 5.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on OKTA shares. Westpark Capital reiterated a “buy” rating and issued a $140.00 price objective on shares of Okta in a research report on Wednesday, August 27th. Arete started coverage on Okta in a research report on Monday, July 7th. They issued a “sell” rating and a $83.00 price objective for the company. Truist Financial upgraded Okta from a “hold” rating to a “buy” rating and boosted their price objective for the company from $100.00 to $125.00 in a research report on Monday, August 25th. BMO Capital Markets lowered their price objective on Okta from $132.00 to $112.00 and set a “market perform” rating for the company in a research report on Wednesday, August 27th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $115.00 price objective on shares of Okta in a research report on Friday, September 26th. Twenty-two analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Okta has a consensus rating of “Hold” and an average target price of $118.94.

Okta Stock Down 4.6%

Shares of OKTA stock opened at $89.35 on Friday. The stock has a market cap of $15.64 billion, a price-to-earnings ratio of 105.12, a PEG ratio of 4.60 and a beta of 0.84. The business’s fifty day moving average is $91.91 and its 200 day moving average is $99.87. Okta, Inc. has a twelve month low of $70.92 and a twelve month high of $127.57.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.07. The company had revenue of $728,000 billion for the quarter, compared to analysts’ expectations of $711.84 million. Okta had a return on equity of 3.31% and a net margin of 6.08%.The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 earnings per share. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. Equities research analysts expect that Okta, Inc. will post 0.42 earnings per share for the current fiscal 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.