Arkadios Wealth Advisors Buys New Position in Okta, Inc. $OKTA

Arkadios Wealth Advisors acquired a new stake in Okta, Inc. (NASDAQ:OKTA) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 5,014 shares of the company’s stock, valued at approximately $501,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pinnacle Bancorp Inc. bought a new position in shares of Okta in the second quarter valued at approximately $26,000. Wayfinding Financial LLC bought a new position in Okta during the 1st quarter valued at $27,000. Harbour Investments Inc. boosted its stake in Okta by 152.4% during the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company’s stock valued at $27,000 after purchasing an additional 157 shares in the last quarter. Kiker Wealth Management LLC boosted its stake in Okta by 1,159.3% during the 2nd quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock valued at $34,000 after purchasing an additional 313 shares in the last quarter. Finally, Cullen Frost Bankers Inc. boosted its stake in Okta by 88.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock valued at $34,000 after purchasing an additional 159 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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 transaction of $2,951,605.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric Robert Kelleher sold 2,410 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $91.73, for a total value of $221,069.30. Following the sale, the insider owned 9,174 shares of the company’s stock, valued at $841,531.02. The trade was a 20.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 63,657 shares of company stock valued at $5,898,754 over the last quarter. 5.68% of the stock is owned by insiders.

Okta Price Performance

Shares of OKTA opened at $86.97 on Wednesday. The company has a 50-day moving average of $90.81 and a two-hundred day moving average of $98.39. Okta, Inc. has a one year low of $71.84 and a one year high of $127.57. The stock has a market cap of $15.23 billion, a price-to-earnings ratio of 102.32, a PEG ratio of 4.47 and a beta of 0.84.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. Okta had a net margin of 6.08% and a return on equity of 3.31%. The firm had revenue of $728,000 billion during the quarter, compared to analyst estimates of $711.84 million. During the same quarter last year, the business posted $0.72 EPS. The company’s revenue was up 12.7% on a year-over-year basis. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. Analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

OKTA has been the subject of several research reports. Barclays raised their target price on Okta from $100.00 to $115.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 27th. JMP Securities restated a “market perform” rating on shares of Okta in a research report on Wednesday, August 27th. BTIG Research restated a “buy” rating and set a $142.00 price objective on shares of Okta in a research report on Friday, September 26th. Westpark Capital restated a “buy” rating and set a $140.00 price objective on shares of Okta in a research report on Wednesday, August 27th. Finally, DA Davidson restated a “buy” rating and set a $140.00 target price 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 assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $118.94.

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.