Blue Zone Wealth Advisors LLC Boosts Holdings in Okta, Inc. (NASDAQ:OKTA)

Blue Zone Wealth Advisors LLC boosted its position in Okta, Inc. (NASDAQ:OKTA) by 5.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,433 shares of the company’s stock after buying an additional 291 shares during the period. Blue Zone Wealth Advisors LLC’s holdings in Okta were worth $568,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. City State Bank lifted its holdings in Okta by 160.0% in the first quarter. City State Bank now owns 260 shares of the company’s stock valued at $27,000 after acquiring an additional 160 shares during the period. GAMMA Investing LLC acquired a new position in shares of Okta during the 4th quarter worth $29,000. Principal Securities Inc. acquired a new position in shares of Okta during the 4th quarter worth $48,000. Future Financial Wealth Managment LLC acquired a new position in shares of Okta during the 1st quarter worth $63,000. Finally, Tucker Asset Management LLC acquired a new position in shares of Okta during the 3rd quarter worth $65,000. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Jacques Frederic Kerrest sold 1,552 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $86.99, for a total value of $135,008.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 7.00% of the company’s stock.

Okta Price Performance

OKTA stock traded up $1.24 during trading hours on Friday, hitting $93.61. 3,899,890 shares of the stock traded hands, compared to its average volume of 1,661,104. The stock has a 50-day simple moving average of $93.41 and a 200 day simple moving average of $92.83. Okta, Inc. has a one year low of $65.04 and a one year high of $114.50. The company has a market cap of $15.75 billion, a P/E ratio of -56.05 and a beta of 1.03. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.19.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, May 29th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.27. Okta had a negative return on equity of 3.81% and a negative net margin of 11.69%. The business had revenue of $617.00 million during the quarter, compared to the consensus estimate of $604.33 million. Equities analysts forecast that Okta, Inc. will post -0.28 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Mizuho upped their price target on Okta from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Friday, May 17th. Wedbush reaffirmed an “outperform” rating and issued a $130.00 target price on shares of Okta in a research report on Wednesday, May 29th. BMO Capital Markets cut their target price on Okta from $110.00 to $100.00 and set a “market perform” rating on the stock in a research report on Monday, June 3rd. Guggenheim reaffirmed a “buy” rating and issued a $130.00 target price on shares of Okta in a research report on Tuesday, June 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 target price on shares of Okta in a research report on Thursday, May 30th. Nineteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Okta currently has an average rating of “Hold” and a consensus target price of $105.58.

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.