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% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,687 shares of the company’s stock after purchasing an additional 1,917 shares during the period. Blue Zone Wealth Advisors LLC’s holdings in Okta were worth $2,268,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of OKTA. Wolff Wiese Magana LLC lifted its stake in Okta by 167.4% during the 1st quarter. Wolff Wiese Magana LLC now owns 246 shares of the company’s stock valued at $26,000 after acquiring an additional 154 shares in the last quarter. Pinnacle Bancorp Inc. bought a new position in Okta during the 2nd quarter valued at $26,000. Wayfinding Financial LLC bought a new position in Okta during the 1st quarter valued at $27,000. Harbour Investments Inc. lifted its stake in Okta by 152.4% during the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock valued at $27,000 after acquiring an additional 157 shares in the last quarter. Finally, Rossby Financial LCC bought a new position in Okta during the 1st quarter valued at $31,000. 86.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Todd Mckinnon sold 31,968 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $92.33, for a total transaction of $2,951,605.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Robert Kelleher sold 16,018 shares of the business’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $91.81, for a total value of $1,470,612.58. Following the transaction, the insider directly owned 7,044 shares of the company’s stock, valued at $646,709.64. The trade was a 69.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 148,321 shares of company stock worth $13,890,032 over the last three months. Company insiders own 5.68% of the company’s stock.

Okta Stock Down 4.6%

OKTA stock opened at $89.35 on Friday. The firm has a market capitalization of $15.64 billion, a PE ratio of 105.12, a PEG ratio of 4.60 and a beta of 0.84. Okta, Inc. has a twelve month low of $70.92 and a twelve month high of $127.57. The stock has a 50-day simple moving average of $91.91 and a two-hundred day simple moving average of $99.87.

Okta (NASDAQ:OKTA) last posted its earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. The business 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 company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $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. On average, equities research analysts anticipate that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on OKTA. Scotiabank dropped their price objective on Okta from $115.00 to $105.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 27th. BMO Capital Markets lowered their target price on Okta from $132.00 to $112.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 27th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Okta in a research note on Wednesday. BTIG Research reiterated a “buy” rating and set a $142.00 target price on shares of Okta in a research note on Friday, September 26th. Finally, JMP Securities reiterated a “market perform” rating on shares of Okta in a research note on Wednesday, August 27th. Twenty-two research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $118.94.

About Okta

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.