Fifth Third Bancorp Raises Stock Position in Okta, Inc. $OKTA

Fifth Third Bancorp grew its holdings in Okta, Inc. (NASDAQ:OKTA) by 130.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,684 shares of the company’s stock after acquiring an additional 954 shares during the period. Fifth Third Bancorp’s holdings in Okta were worth $168,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in OKTA. Wolff Wiese Magana LLC raised its stake in shares of Okta by 167.4% in the 1st quarter. Wolff Wiese Magana LLC now owns 246 shares of the company’s stock valued at $26,000 after acquiring an additional 154 shares during the period. Pinnacle Bancorp Inc. purchased a new stake in Okta during the 2nd quarter worth $26,000. Wayfinding Financial LLC purchased a new stake in Okta during the 1st quarter worth $27,000. Harbour Investments Inc. increased its stake in Okta by 152.4% during the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock worth $27,000 after buying an additional 157 shares during the period. Finally, Rossby Financial LCC purchased a new stake in Okta during the 1st quarter worth $31,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Stock Performance

NASDAQ OKTA opened at $91.69 on Thursday. Okta, Inc. has a one year low of $70.92 and a one year high of $127.57. The company has a 50-day simple moving average of $92.71 and a 200-day simple moving average of $100.93. The firm has a market capitalization of $16.05 billion, a PE ratio of 107.87, a price-to-earnings-growth ratio of 4.50 and a beta of 0.84.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.07. The firm had revenue of $728,000 billion for the quarter, compared to the consensus estimate of $711.84 million. Okta had a net margin of 6.08% and a return on equity of 3.31%. Okta’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the firm posted $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. Equities analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current year.

Insider Activity at Okta

In other Okta news, CEO Todd Mckinnon sold 31,968 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $92.33, for a total transaction of $2,951,605.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brett Tighe sold 10,000 shares of the business’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $95.00, for a total transaction of $950,000.00. Following the sale, the chief financial officer owned 132,288 shares in the company, valued at $12,567,360. This trade represents a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,593 shares of company stock worth $12,598,168 in the last three months. Insiders own 5.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Okta from a “hold” rating to a “buy” rating in a research note on Sunday, August 3rd. JMP Securities reissued a “market perform” rating on shares of Okta in a report on Wednesday, August 27th. Citigroup reissued a “market perform” rating on shares of Okta in a report on Wednesday, August 27th. Jefferies Financial Group raised their price objective on shares of Okta from $100.00 to $105.00 and gave the stock a “hold” rating in a report on Wednesday, August 27th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $115.00 price objective on shares of Okta in a report on Friday, September 26th. Twenty-two investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $118.94.

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.