Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently bought shares of Okta, Inc. NASDAQ: OKTA. In a filing disclosed on May 08th, the Representative disclosed that they had bought between $1,001 and $15,000 in Okta stock on April 8th. 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 Meta Platforms NASDAQ: META on 4/17/2025.
- Sold $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 4/16/2025.
- Sold $1,001 - $15,000 in shares of Western Digital NASDAQ: WDC on 4/11/2025.
- Purchased $1,001 - $15,000 in shares of Alphabet NASDAQ: GOOG on 4/11/2025.
- Purchased $1,001 - $15,000 in shares of Texas Instruments NASDAQ: TXN on 4/11/2025.
- Purchased $1,001 - $15,000 in shares of NVIDIA NASDAQ: NVDA on 4/11/2025.
- Sold $1,001 - $15,000 in shares of Western Digital NASDAQ: WDC on 4/10/2025.
- Sold $1,001 - $15,000 in shares of DexCom NASDAQ: DXCM on 4/8/2025.
- Sold $1,001 - $15,000 in shares of Invesco NYSE: IVZ on 4/8/2025.
- Sold $1,001 - $15,000 in shares of Generac NYSE: GNRC on 4/8/2025.
Okta Price Performance
OKTA traded up $0.24 during trading on Thursday, hitting $123.58. The company's stock had a trading volume of 342,404 shares, compared to its average volume of 2,762,184. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $125.34. The business's fifty day simple moving average is $107.36 and its 200 day simple moving average is $93.13. The firm has a market capitalization of $21.45 billion, a price-to-earnings ratio of -351.95, a P/E/G ratio of 6.42 and a beta of 0.96.
Insider Buying and Selling at Okta
In other news, CRO Jonathan James Addison sold 7,005 shares of the stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $101.19, for a total transaction of $708,835.95. Following the completion of the transaction, the executive now directly owns 19,067 shares in the company, valued at approximately $1,929,389.73. This represents a 26.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Larissa Schwartz sold 11,552 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $114.09, for a total value of $1,317,967.68. Following the sale, the insider now directly owns 22,125 shares in the company, valued at approximately $2,524,241.25. This represents a 34.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 154,452 shares of company stock valued at $16,347,360. Company insiders own 7.00% of the company's stock.
Analysts Set New Price Targets
OKTA has been the topic of a number of research analyst reports. The Goldman Sachs Group lifted their price target on Okta from $107.00 to $123.00 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. BTIG Research reissued a "buy" rating on shares of Okta in a research note on Tuesday, March 4th. Susquehanna boosted their price objective on Okta from $95.00 to $105.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. Jefferies Financial Group boosted their price objective on Okta from $90.00 to $110.00 and gave the stock a "hold" rating in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company increased their price target on Okta from $95.00 to $100.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Okta currently has a consensus rating of "Moderate Buy" and an average price target of $116.94.
Get Our Latest Research Report on OKTA
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Magnetar Financial LLC lifted its holdings in shares of Okta by 384.0% in the 1st quarter. Magnetar Financial LLC now owns 103,952 shares of the company's stock valued at $10,938,000 after buying an additional 82,475 shares during the period. Trexquant Investment LP purchased a new stake in shares of Okta in the first quarter valued at $23,496,000. OMERS ADMINISTRATION Corp grew its position in Okta by 11.0% during the first quarter. OMERS ADMINISTRATION Corp now owns 21,481 shares of the company's stock valued at $2,260,000 after acquiring an additional 2,135 shares during the period. Truvestments Capital LLC grew its position in Okta by 35.4% during the first quarter. Truvestments Capital LLC now owns 5,183 shares of the company's stock valued at $545,000 after acquiring an additional 1,354 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG grew its position in Okta by 55.2% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 6,403 shares of the company's stock valued at $674,000 after acquiring an additional 2,277 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.
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.
Okta Company Profile
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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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