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

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently bought shares of Okta, Inc. NASDAQ: OKTA. In a filing disclosed on June 09th, the Representative disclosed that they had bought between $1,001 and $15,000 in Okta stock on May 9th. 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 Zoom Communications NASDAQ: ZM on 6/25/2025.
• Purchased $1,001 - $15,000 in shares of Coinbase Global NASDAQ: COIN on 6/24/2025.
• Purchased $1,001 - $15,000 in shares of Circle Internet Group NYSE: CRCL on 6/24/2025.
• Sold $1,001 - $15,000 in shares of Amazon.com NASDAQ: AMZN on 6/23/2025.
• Sold $1,001 - $15,000 in shares of Chubb NYSE: CB on 6/13/2025.
• Sold $1,001 - $15,000 in shares of Atlassian NASDAQ: TEAM on 6/11/2025.
• Purchased $1,001 - $15,000 in shares of ServiceTitan NASDAQ: TTAN on 6/11/2025.
• Sold $1,001 - $15,000 in shares of Datadog NASDAQ: DDOG on 6/11/2025.
• Sold $1,001 - $15,000 in shares of GitLab NASDAQ: GTLB on 6/11/2025.
• Purchased $1,001 - $15,000 in shares of Broadcom NASDAQ: AVGO on 6/11/2025.

Okta Stock Down 3.8%

Shares of NASDAQ:OKTA traded down $3.84 during midday trading on Monday, reaching $97.26. The company's stock had a trading volume of 2,447,864 shares, compared to its average volume of 3,625,215. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $127.57. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $17.03 billion, a P/E ratio of 154.38, a PEG ratio of 4.89 and a beta of 0.82. The firm has a 50 day moving average of $102.38 and a 200-day moving average of $102.01.

Okta (NASDAQ:OKTA - Get Free Report) last issued its earnings results on Tuesday, May 27th. The company reported $0.86 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.09. The business had revenue of $688.00 million during the quarter, compared to analyst estimates of $680.14 million. Okta had a return on equity of 2.79% and a net margin of 4.85%. Okta's revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 EPS. On average, research analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Cantor Fitzgerald assumed coverage on Okta in a research report on Monday, March 31st. They set an "overweight" rating and a $130.00 target price on the stock. Mizuho lowered their price objective on Okta from $135.00 to $130.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 28th. Arete started coverage on shares of Okta in a report on Monday, July 7th. They issued a "sell" rating and a $83.00 target price for the company. UBS Group lowered their price target on shares of Okta from $150.00 to $130.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. Finally, JMP Securities reissued a "market perform" rating on shares of Okta in a research note on Wednesday, May 28th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $118.61.

Insider Activity at Okta

In other Okta news, CEO Todd Mckinnon sold 31,592 shares of the business's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $95.30, for a total value of $3,010,717.60. Following the completion of the sale, the chief executive officer directly owned 20,682 shares of the company's stock, valued at $1,970,994.60. The trade was a 60.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jacques Frederic Kerrest sold 581 shares of Okta stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $100.29, for a total transaction of $58,268.49. Following the sale, the director directly owned 2,832 shares of the company's stock, valued at $284,021.28. This represents a 17.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 79,594 shares of company stock worth $7,482,790 over the last ninety days. 5.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of OKTA. Wealth Enhancement Advisory Services LLC boosted its holdings in Okta by 52.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company's stock valued at $956,000 after acquiring an additional 4,171 shares during the period. Trek Financial LLC purchased a new stake in shares of Okta during the first quarter valued at $426,000. Merit Financial Group LLC bought a new position in shares of Okta in the first quarter worth about $823,000. Stephens Investment Management Group LLC grew its holdings in shares of Okta by 10.4% in the first quarter. Stephens Investment Management Group LLC now owns 499,125 shares of the company's stock worth $52,518,000 after purchasing an additional 46,818 shares during the last quarter. Finally, Greenwood Capital Associates LLC increased its stake in Okta by 165.7% in the 1st quarter. Greenwood Capital Associates LLC now owns 7,048 shares of the company's stock worth $742,000 after buying an additional 4,395 shares during the period. Hedge funds and other institutional investors own 86.64% 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.