Rep. Robert Bresnahan, Jr. Purchases Shares of Okta, Inc. (NASDAQ:OKTA)

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently bought shares of Okta, Inc. NASDAQ: OKTA. In a filing disclosed on April 22nd, the Representative disclosed that they had bought between $1,001 and $15,000 in Okta stock on April 4th. The trade occurred in the Representative's "JP MORGAN BROKERAGE ACCOUNT #2" account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of Reddit NYSE: RDDT on 4/4/2025.
• Sold $1,001 - $15,000 in shares of Cloudflare NYSE: NET on 4/4/2025.
• Sold $1,001 - $15,000 in shares of SanDisk NASDAQ: SNDK on 4/4/2025.
• Sold $1,001 - $15,000 in shares of Robinhood Markets NASDAQ: HOOD on 4/3/2025.
• Purchased $1,001 - $15,000 in shares of Microsoft NASDAQ: MSFT on 4/3/2025.
• Sold $1,001 - $15,000 in shares of Broadcom NASDAQ: AVGO on 4/3/2025.
• Sold $1,001 - $15,000 in shares of Amazon.com NASDAQ: AMZN on 4/3/2025.
• Sold $1,001 - $15,000 in shares of Shopify NYSE: SHOP on 4/3/2025.
• Sold $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 4/2/2025.
• Purchased $1,001 - $15,000 in shares of Intuit NASDAQ: INTU on 4/1/2025.

Okta Stock Up 7.4 %

Shares of NASDAQ OKTA traded up $7.75 during trading on Tuesday, reaching $112.54. The company had a trading volume of 10,052,227 shares, compared to its average volume of 2,613,188. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $118.07. The stock has a market cap of $19.54 billion, a PE ratio of -321.54, a P/E/G ratio of 6.42 and a beta of 1.07. The business's 50-day moving average is $102.92 and its 200 day moving average is $89.93. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Bank of Jackson Hole Trust purchased a new position in Okta during the 4th quarter valued at about $25,000. Wolff Wiese Magana LLC increased its position in Okta by 167.4% during the 1st quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock valued at $26,000 after purchasing an additional 154 shares during the period. Wayfinding Financial LLC purchased a new position in Okta during the 1st quarter valued at about $27,000. Rossby Financial LCC purchased a new position in Okta during the 1st quarter valued at about $31,000. Finally, TD Private Client Wealth LLC increased its position in Okta by 3,507.7% during the 4th quarter. TD Private Client Wealth LLC now owns 469 shares of the company's stock valued at $37,000 after purchasing an additional 456 shares during the period. Hedge funds and other institutional investors own 86.64% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on OKTA shares. Roth Capital started coverage on Okta in a research report on Wednesday, April 23rd. They set a "buy" rating and a $119.00 price objective on the stock. Citigroup increased their price objective on Okta from $100.00 to $110.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. BTIG Research reaffirmed a "buy" rating on shares of Okta in a research report on Tuesday, March 4th. KeyCorp increased their price objective on Okta from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. increased their price objective on Okta from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $116.12.

Insider Buying and Selling at Okta

In other Okta news, insider Larissa Schwartz sold 11,552 shares of the firm's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total transaction of $1,317,967.68. Following the transaction, the insider now owns 22,125 shares of the company's stock, valued at approximately $2,524,241.25. This trade represents a 34.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eric Robert Kelleher sold 5,895 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $113.75, for a total transaction of $670,556.25. Following the completion of the sale, the insider now owns 9,828 shares in the company, valued at $1,117,935. This represents a 37.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 227,192 shares of company stock valued at $23,426,056. Company insiders own 7.00% of the company's stock.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania's 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania's 8th Congressional District. He declared candidacy for the 2026 election. Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.