Fifth Third Wealth Advisors LLC Purchases New Position in Okta, Inc. $OKTA

Key Points

• Fifth Third Wealth Advisors LLC has acquired a new stake in Okta, purchasing 4,348 shares valued at approximately $435,000 in the second quarter.
• Analysts exhibit mixed sentiment on Okta's stock, with twenty-two giving it a "Buy" rating, while others like Arete Research have assigned a "strong sell" rating.
• Okta's stock is currently experiencing fluctuations, with recent reports indicating a 4.6% decline in shares, valuing them at around $89.35.

Fifth Third Wealth Advisors LLC purchased a new stake in Okta, Inc. (NASDAQ:OKTA - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,348 shares of the company's stock, valued at approximately $435,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Aberdeen Group plc boosted its holdings in Okta by 6.8% in the second quarter. Aberdeen Group plc now owns 110,742 shares of the company's stock valued at $11,071,000 after purchasing an additional 7,088 shares in the last quarter. Blue Zone Wealth Advisors LLC boosted its holdings in Okta by 9.2% in the second quarter. Blue Zone Wealth Advisors LLC now owns 22,687 shares of the company's stock valued at $2,268,000 after purchasing an additional 1,917 shares in the last quarter. Costello Asset Management INC acquired a new position in Okta in the second quarter valued at approximately $70,000. IFP Advisors Inc boosted its holdings in shares of Okta by 80.6% in the second quarter. IFP Advisors Inc now owns 1,562 shares of the company's stock valued at $156,000 after acquiring an additional 697 shares during the period. Finally, Callan Family Office LLC acquired a new stake in shares of Okta in the second quarter valued at approximately $399,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Arete Research raised Okta to a "strong sell" rating and set a $83.00 price objective for the company in a report on Monday, July 7th. BMO Capital Markets decreased their price objective on Okta from $132.00 to $112.00 and set a "market perform" rating for the company in a report on Wednesday, August 27th. Citigroup reissued a "market perform" rating on shares of Okta in a report on Wednesday, August 27th. Weiss Ratings reissued a "hold (c-)" rating on shares of Okta in a report on Wednesday, October 8th. Finally, BTIG Research reissued a "buy" rating and issued a $142.00 price objective on shares of Okta in a report on Friday, September 26th. Twenty-two equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $118.94.

Okta Stock Down 4.6%

Shares of OKTA stock opened at $89.35 on Monday. Okta, Inc. has a fifty-two week low of $70.92 and a fifty-two week high of $127.57. The stock has a market cap of $15.64 billion, a P/E ratio of 105.12, a P/E/G ratio of 4.39 and a beta of 0.84. The business has a fifty day simple moving average of $91.91 and a 200-day simple moving average of $99.69.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly 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 analysts' expectations of $711.84 million. Okta had a return on equity of 3.31% and a net margin of 6.08%.The business's revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the business posted $0.72 earnings per share. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. On average, sell-side analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current year.

Insider Buying and Selling at Okta

In other Okta news, CEO Todd Mckinnon sold 31,968 shares of the firm's stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $92.33, for a total value of $2,951,605.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brett Tighe sold 10,000 shares of the firm's stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $95.00, for a total value of $950,000.00. Following the completion of the sale, the chief financial officer directly owned 133,336 shares in the company, valued at approximately $12,666,920. The trade was a 6.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 136,267 shares of company stock valued at $12,780,944. 5.68% of the stock is owned by company insiders.

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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