Fifth Third Wealth Advisors LLC Makes New $435,000 Investment in Okta, Inc. $OKTA

Fifth Third Wealth Advisors LLC bought a new position in Okta, Inc. (NASDAQ:OKTA) in the 2nd quarter, HoldingsChannel reports. The fund bought 4,348 shares of the company’s stock, valued at approximately $435,000.

Several other hedge funds also recently made changes to their positions in the company. Aberdeen Group plc grew its position in shares of Okta by 6.8% in the 2nd quarter. Aberdeen Group plc now owns 110,742 shares of the company’s stock worth $11,071,000 after acquiring an additional 7,088 shares in the last quarter. Blue Zone Wealth Advisors LLC grew its position in shares of Okta by 9.2% in the 2nd quarter. Blue Zone Wealth Advisors LLC now owns 22,687 shares of the company’s stock worth $2,268,000 after acquiring an additional 1,917 shares in the last quarter. Costello Asset Management INC acquired a new position in shares of Okta in the 2nd quarter worth approximately $70,000. IFP Advisors Inc grew its position in shares of Okta by 80.6% in the 2nd quarter. IFP Advisors Inc now owns 1,562 shares of the company’s stock worth $156,000 after acquiring an additional 697 shares in the last quarter. Finally, Callan Family Office LLC acquired a new position in shares of Okta in the 2nd quarter worth approximately $399,000. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Stock Down 4.6%

Shares of Okta stock opened at $89.35 on Monday. The stock’s fifty day moving average is $91.91 and its 200-day moving average is $99.69. The firm has a market capitalization of $15.64 billion, a PE ratio of 105.12, a price-to-earnings-growth ratio of 4.39 and a beta of 0.84. Okta, Inc. has a 12-month low of $70.92 and a 12-month high of $127.57.

Okta (NASDAQ:OKTA) last announced its earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping 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 return on equity of 3.31% and a net margin of 6.08%.Okta’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $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. Analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Robert W. Baird reduced their price objective on Okta from $142.00 to $135.00 and set an “outperform” rating for the company in a research report on Monday, September 29th. Needham & Company LLC restated a “buy” rating and set a $125.00 price objective on shares of Okta in a research report on Wednesday, August 27th. Royal Bank Of Canada restated an “outperform” rating and set a $115.00 price objective on shares of Okta in a research report on Friday, September 26th. Barclays boosted their price objective on Okta from $100.00 to $115.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 27th. Finally, Citigroup restated a “market perform” rating on shares of Okta in a research report on Wednesday, August 27th. Twenty-two research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $118.94.

Insider Activity

In related news, CRO Jonathan James Addison sold 9,000 shares of the company’s stock in a transaction on Friday, July 25th. The stock was 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 of the company’s stock, valued at approximately $706,700. The trade was a 56.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Mckinnon sold 31,968 shares of the company’s stock in a transaction on 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 can be found here. Insiders sold 136,267 shares of company stock valued at $12,780,944 in the last ninety days. Corporate insiders own 5.68% of the company’s stock.

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.