Okta (NASDAQ:OKTA) Stock Acquired Rep. Robert Bresnahan, Jr.

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.
• 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.
• Sold $15,001 - $50,000 in shares of Occidental Petroleum NYSE: OXY on 4/8/2025.
• Sold $15,001 - $50,000 in shares of Pfizer NYSE: PFE on 4/8/2025.
• Sold $1,001 - $15,000 in shares of QUALCOMM NASDAQ: QCOM on 4/8/2025.

Okta Trading Down 1.1 %

Shares of Okta stock traded down $1.30 on Friday, reaching $119.45. 1,933,187 shares of the company were exchanged, compared to its average volume of 2,757,493. Okta, Inc. has a fifty-two week low of $70.56 and a fifty-two week high of $121.93. The firm has a market capitalization of $20.74 billion, a price-to-earnings ratio of -341.29, a price-to-earnings-growth ratio of 6.42 and a beta of 0.96. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.06. The stock has a fifty day moving average price of $106.73 and a 200-day moving average price of $92.06.

Institutional Trading of Okta

A number of hedge funds have recently modified their holdings of OKTA. Bank of Jackson Hole Trust bought a new position in shares of Okta during the 4th quarter worth about $25,000. Wolff Wiese Magana LLC boosted its stake in 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 buying an additional 154 shares in the last quarter. Wayfinding Financial LLC bought a new position in shares of Okta during the first quarter valued at $27,000. Harbour Investments Inc. boosted its stake in shares of Okta by 152.4% in 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. Finally, Rossby Financial LCC acquired a new stake in shares of Okta during the 1st quarter worth about $31,000. Institutional investors own 86.64% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Morgan Stanley cut their price objective on Okta from $125.00 to $123.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Barclays raised their price objective on shares of Okta from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. Needham & Company LLC reissued a "buy" rating and set a $115.00 target price on shares of Okta in a research note on Tuesday, March 4th. Roth Capital began coverage on Okta in a research report on Wednesday, April 23rd. They issued a "buy" rating and a $119.00 target price for the company. Finally, Stephens initiated coverage on Okta in a research report on Tuesday, April 1st. They set an "equal weight" rating and a $127.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $116.80.

Insider Activity at Okta

In other news, insider Larissa Schwartz sold 2,740 shares of Okta stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $97.59, for a total value of $267,396.60. Following the completion of the transaction, the insider now owns 22,125 shares in the company, valued at approximately $2,159,178.75. The trade was a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jacques Frederic Kerrest sold 130,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $105.00, for a total value of $13,650,000.00. The disclosure for this sale can be found here. Insiders sold 157,192 shares of company stock valued at $16,614,756 in the last ninety days. 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.

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.

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