Rep. Gilbert Ray Cisneros, Jr. Sells Off Shares of Okta, Inc. (NASDAQ:OKTA)

Key Points

• Representative Gil Cisneros sold shares of Okta, Inc. valued between $1,001 and $15,000, as disclosed in a filing on October 10th, for a transaction that occurred on September 12th.
• Okta's stock price recently fell to $89.08, with a market capitalization of $15.60 billion and reported quarterly earnings of $0.91 EPS, surpassing estimates by $0.07.
• Institutional investors hold a significant 86.64% of Okta's shares, indicating strong institutional interest in the company.

Representative Gilbert Ray Cisneros, Jr. (D-California) recently sold shares of Okta, Inc. (NASDAQ:OKTA). In a filing disclosed on October 10th, the Representative disclosed that they had sold between $1,001 and $15,000 in Okta stock on September 12th. The trade occurred in the Representative's "150 MAIN STREET TRUST > BANK OF AMERICA" account.

Representative Gilbert Ray Cisneros, Jr. also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of StandardAero NYSE: SARO on 10/1/2025.
• Sold $1,001 - $15,000 in shares of Amdocs NASDAQ: DOX on 10/1/2025.
• Purchased $1,001 - $15,000 in shares of Waters NYSE: WAT on 9/30/2025.
• Sold $15,001 - $50,000 in shares of Fortive NYSE: FTV on 9/30/2025.
• Purchased $1,001 - $15,000 in shares of StandardAero NYSE: SARO on 9/30/2025.
• Purchased $1,001 - $15,000 in shares of APi Group NYSE: APG on 9/30/2025.
• Sold $1,001 - $15,000 in shares of GoDaddy NYSE: GDDY on 9/30/2025.
• Purchased $1,001 - $15,000 in shares of PTC NASDAQ: PTC on 9/30/2025.
• Purchased $1,001 - $15,000 in shares of CoStar Group NASDAQ: CSGP on 9/30/2025.
• Purchased $1,001 - $15,000 in shares of Mitsubishi Heavy Industries OTCMKTS: MHVYF on 9/30/2025.

Okta Stock Performance

Shares of OKTA traded down $1.06 during trading hours on Tuesday, hitting $89.08. The company had a trading volume of 1,892,093 shares, compared to its average volume of 3,591,574. The stock has a market capitalization of $15.60 billion, a price-to-earnings ratio of 104.80, a P/E/G ratio of 4.39 and a beta of 0.84. The firm has a fifty day moving average price of $91.76 and a 200-day moving average price of $99.57. Okta, Inc. has a 52-week low of $70.92 and a 52-week high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.84 by $0.07. The company 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 revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior 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. Research analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. BTIG Research reissued a "buy" rating and issued a $142.00 target price on shares of Okta in a research report on Friday, September 26th. Needham & Company LLC reissued a "buy" rating and set a $125.00 price objective on shares of Okta in a report on Wednesday, August 27th. Cantor Fitzgerald restated an "overweight" rating and issued a $130.00 target price on shares of Okta in a report on Wednesday, August 27th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $115.00 target price on shares of Okta in a research report on Friday, September 26th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Okta in a report on Wednesday, October 8th. 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. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $118.94.

Institutional Trading of Okta

Several hedge funds have recently bought and sold shares of the stock. Wolff Wiese Magana LLC lifted its position in shares of 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 buying an additional 154 shares in the last quarter. Wayfinding Financial LLC bought a new stake in Okta during the 1st quarter worth approximately $27,000. Harbour Investments Inc. raised 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 acquiring an additional 157 shares during the period. Pinnacle Bancorp Inc. purchased a new position in Okta during the second quarter valued at approximately $26,000. Finally, Promus Capital LLC bought a new position in shares of Okta in the second quarter worth approximately $27,000. Institutional investors own 86.64% of the company's stock.

Insider Activity

In other Okta news, 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 transaction of $221,069.30. Following the sale, the insider directly owned 9,174 shares of the company's stock, valued at $841,531.02. This trade represents a 20.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Larissa Schwartz sold 1,318 shares of the business's stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $91.65, for a total value of $120,794.70. Following the completion of the transaction, the insider owned 37,837 shares in the company, valued at $3,467,761.05. The trade was a 3.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,249 shares of company stock worth $10,759,471. 5.68% of the stock is currently owned by insiders.

About Representative Cisneros

Gil Cisneros (Democratic Party) is a member of the U.S. House, representing California's 31st Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Cisneros (Democratic Party) is running for re-election to the U.S. House to represent California's 31st Congressional District. He declared candidacy for the 2026 election. Gil Cisneros served in the U.S. Navy as a supply officer from 1994 to 2004. Cisneros earned a bachelor's degree in political science from George Washington University in 1994, a master's in business administration from Regis University in 2002, and a master's degree in urban education policy from Brown University in 2015. His career experience includes working as a logistics manager for Frito-Lay. In 2010, Cisneros won the lottery and became involved in activism and philanthropy, founding a scholarship program for local high school students. In 2021, President Joe Biden (D) appointed Cisneros as under secretary of defense for personnel and readiness.

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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