Blue Grotto Capital LLC Buys 112,801 Shares of Okta, Inc. $OKTA

Blue Grotto Capital LLC increased its position in Okta, Inc. (NASDAQ:OKTA) by 80.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 252,801 shares of the company’s stock after acquiring an additional 112,801 shares during the quarter. Okta comprises about 3.1% of Blue Grotto Capital LLC’s holdings, making the stock its 13th biggest holding. Blue Grotto Capital LLC owned 0.14% of Okta worth $25,273,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Adage Capital Partners GP L.L.C. increased its holdings in shares of Okta by 300.0% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 100,000 shares of the company’s stock worth $9,997,000 after buying an additional 75,000 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Okta by 1.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,037,640 shares of the company’s stock worth $203,704,000 after purchasing an additional 22,975 shares during the period. AQR Capital Management LLC grew its holdings in shares of Okta by 13.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,175,676 shares of the company’s stock worth $117,121,000 after acquiring an additional 143,634 shares during the period. Alamea Verwaltungs GmbH boosted its holdings in shares of Okta by 34.9% during the 2nd quarter. Alamea Verwaltungs GmbH now owns 2,866 shares of the company’s stock valued at $287,000 after buying an additional 741 shares in the last quarter. Finally, California State Teachers Retirement System increased its stake in shares of Okta by 0.5% during the second quarter. California State Teachers Retirement System now owns 261,770 shares of the company’s stock valued at $26,169,000 after purchasing an additional 1,214 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

OKTA has been the subject of a number of analyst reports. Stifel Nicolaus reduced their price objective on shares of Okta from $130.00 to $121.00 and set a “buy” rating for the company in a research note on Wednesday, December 3rd. DA Davidson reissued a “buy” rating and set a $140.00 price target on shares of Okta in a report on Wednesday, December 3rd. BTIG Research cut their target price on Okta from $142.00 to $116.00 and set a “buy” rating for the company in a research report on Wednesday, December 3rd. Needham & Company LLC restated a “buy” rating and set a $110.00 price target on shares of Okta in a report on Friday. Finally, Citigroup lowered their price target on shares of Okta from $110.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, December 3rd. Twenty-three investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Okta has a consensus rating of “Moderate Buy” and an average target price of $112.91.

Okta Stock Down 0.5%

OKTA opened at $90.18 on Friday. Okta, Inc. has a 52-week low of $75.05 and a 52-week high of $127.57. The firm’s 50-day moving average price is $86.38 and its 200-day moving average price is $92.48. The company has a market cap of $15.79 billion, a P/E ratio of 82.73, a price-to-earnings-growth ratio of 4.27 and a beta of 0.77.

Okta (NASDAQ:OKTA) last released 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 firm had revenue of $742.00 million for the quarter, compared to the consensus estimate of $730.23 million. Okta had a return on equity of 3.77% and a net margin of 6.87%.The firm’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.67 EPS. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. On average, research analysts anticipate that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CRO Jonathan James Addison sold 6,091 shares of Okta stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $92.61, for a total transaction of $564,087.51. Following the completion of the transaction, the executive directly owned 7,067 shares of the company’s stock, valued at $654,474.87. The trade was a 46.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Larissa Schwartz sold 1,318 shares of the company’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $85.71, for a total transaction of $112,965.78. Following the completion of the transaction, the insider owned 35,201 shares of the company’s stock, valued at approximately $3,017,077.71. This trade represents a 3.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 66,293 shares of company stock valued at $6,124,092 in the last 90 days. 5.68% of the stock is currently owned by insiders.

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.