Bfsg LLC Makes New Investment in Okta, Inc. $OKTA

Key Points

• Bfsg LLC has made a new investment in Okta, Inc. by acquiring 3,365 shares worth approximately $336,000 during the second quarter.
• Multiple institutional investors, including CHICAGO TRUST Co and AdvisorNet Financial Inc, have increased their holdings in Okta, which is currently dominated by institutional ownership at 86.64%.
• Okta recently reported earnings that beat analyst expectations, posting $0.91 earnings per share for the quarter and setting optimistic guidance for fiscal year 2026 at $3.330-$3.380 EPS.

Bfsg LLC bought a new stake in Okta, Inc. (NASDAQ:OKTA - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,365 shares of the company's stock, valued at approximately $336,000.

A number of other institutional investors have also modified their holdings of the business. CHICAGO TRUST Co NA increased its holdings in shares of Okta by 5.9% in the 2nd quarter. CHICAGO TRUST Co NA now owns 3,374 shares of the company's stock valued at $337,000 after acquiring an additional 187 shares during the period. AdvisorNet Financial Inc increased its holdings in shares of Okta by 683.3% in the 2nd quarter. AdvisorNet Financial Inc now owns 705 shares of the company's stock valued at $70,000 after acquiring an additional 615 shares during the period. GAMMA Investing LLC increased its holdings in shares of Okta by 40.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,687 shares of the company's stock valued at $169,000 after acquiring an additional 486 shares during the period. Avanza Fonder AB increased its holdings in shares of Okta by 7.2% in the 2nd quarter. Avanza Fonder AB now owns 10,243 shares of the company's stock valued at $1,024,000 after acquiring an additional 691 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of Okta by 55.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 3,462 shares of the company's stock valued at $346,000 after acquiring an additional 1,234 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on OKTA. Roth Capital reaffirmed a "buy" rating and issued a $119.00 target price on shares of Okta in a report on Wednesday, May 28th. Stephens reissued an "equal weight" rating and issued a $127.00 price objective on shares of Okta in a research note on Tuesday, May 27th. Robert W. Baird dropped their price objective on shares of Okta from $148.00 to $142.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 27th. The Goldman Sachs Group boosted their price objective on shares of Okta from $123.00 to $137.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Finally, Citigroup reissued 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, thirteen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $118.25.

Insider Buying and Selling

In other news, CRO Jonathan James Addison sold 9,000 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $100.00, for a total transaction of $900,000.00. Following the transaction, the executive directly owned 7,067 shares in the company, valued at $706,700. This represents a 56.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eric Robert Kelleher sold 16,018 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $91.81, for a total transaction of $1,470,612.58. Following the transaction, the insider owned 7,044 shares in the company, valued at approximately $646,709.64. The trade was a 69.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 102,625 shares of company stock worth $9,646,563 in the last 90 days. 5.68% of the stock is currently owned by corporate insiders.

Okta Trading Down 0.2%

NASDAQ:OKTA opened at $92.20 on Wednesday. The firm has a market cap of $16.14 billion, a price-to-earnings ratio of 108.47, a price-to-earnings-growth ratio of 4.52 and a beta of 0.83. The company's 50-day moving average is $93.03 and its two-hundred day moving average is $101.57. Okta, Inc. has a 12-month low of $70.92 and a 12-month high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last released its earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.07. The company had revenue of $728,000 billion for the quarter, compared to analyst estimates of $711.84 million. Okta had a net margin of 6.08% and a return on equity of 3.31%. The firm's quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the prior 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 forecast that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Okta 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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