Blue Grotto Capital LLC Raises Stock Position in Okta, Inc. $OKTA

Blue Grotto Capital LLC boosted its stake in Okta, Inc. (NASDAQ:OKTA) by 80.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 252,801 shares of the company’s stock after buying an additional 112,801 shares during the quarter. Okta makes up approximately 3.1% of Blue Grotto Capital LLC’s portfolio, making the stock its 13th largest holding. Blue Grotto Capital LLC’s holdings in Okta were worth $25,273,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Pinnacle Bancorp Inc. purchased a new stake in shares of Okta in the second quarter valued at approximately $26,000. Kiker Wealth Management LLC raised its position in Okta by 1,159.3% in the second quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock valued at $34,000 after purchasing an additional 313 shares during the period. Cullen Frost Bankers Inc. raised its holdings in shares of Okta by 88.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock valued at $34,000 after buying an additional 159 shares during the period. V Square Quantitative Management LLC increased its stake in Okta by 126.0% during the second quarter. V Square Quantitative Management LLC now owns 504 shares of the company’s stock worth $50,000 after purchasing an additional 281 shares during the period. Finally, Hantz Financial Services Inc. lifted its holdings in Okta by 572.5% during the 2nd quarter. Hantz Financial Services Inc. now owns 538 shares of the company’s stock worth $54,000 after buying an additional 458 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Okta

In related news, CRO Jonathan James Addison sold 6,091 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $92.61, for a total value of $564,087.51. Following the transaction, the executive directly owned 7,067 shares of the company’s stock, valued at approximately $654,474.87. This trade represents a 46.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Todd Mckinnon sold 31,968 shares of Okta stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $92.33, for a total value of $2,951,605.44. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 66,293 shares of company stock worth $6,124,092. Corporate insiders own 5.68% of the company’s stock.

Okta Stock Down 0.5%

Shares of NASDAQ: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 company has a market capitalization of $15.79 billion, a P/E ratio of 82.73, a P/E/G ratio of 4.27 and a beta of 0.77. The stock’s fifty day simple moving average is $86.38 and its 200-day simple moving average is $92.48.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on OKTA shares. Mizuho reduced their price target on Okta from $120.00 to $110.00 and set an “outperform” rating on the stock in a research report on Monday, November 17th. Bank of America reissued an “underperform” rating and issued a $75.00 price target on shares of Okta in a research report on Wednesday, August 27th. Royal Bank Of Canada reduced their price objective on Okta from $115.00 to $97.00 and set an “outperform” rating for the company in a research note on Wednesday, December 3rd. Stifel Nicolaus decreased their target price 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. Finally, Barclays reduced their price objective on shares of Okta from $112.00 to $95.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 18th. Twenty-three investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Okta has an average rating of “Moderate Buy” and a consensus price target of $112.91.

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.