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 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 4.2 %

OKTA opened at $98.33 on Thursday. Okta, Inc. has a twelve month low of $70.56 and a twelve month high of $118.07. The company’s 50-day moving average price is $102.19 and its two-hundred day moving average price is $89.00. The stock has a market cap of $17.07 billion, a price-to-earnings ratio of -280.94, a PEG ratio of 6.42 and a beta of 1.07. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.06.

Insider Transactions at Okta

In related news, insider Larissa Schwartz sold 2,740 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $97.59, for a total value of $267,396.60. Following the completion of the sale, the insider now owns 22,125 shares of the company’s stock, valued at $2,159,178.75. This trade represents a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jacques Frederic Kerrest sold 130,000 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $93.00, for a total transaction of $12,090,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 362,192 shares of company stock worth $35,988,856. 7.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Okta

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC increased its position in shares of Okta by 167.4% in the first quarter. Wolff Wiese Magana LLC now owns 246 shares of the company’s stock valued at $26,000 after acquiring an additional 154 shares during the period. Bank of Jackson Hole Trust bought a new stake in shares of Okta in the fourth quarter worth about $25,000. Center for Financial Planning Inc. purchased a new position in Okta during the 1st quarter valued at about $47,000. TD Private Client Wealth LLC raised 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 last quarter. Finally, CX Institutional purchased a new stake in Okta in the 1st quarter worth approximately $52,000. 86.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Morgan Stanley dropped their price objective on Okta from $125.00 to $123.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. The Goldman Sachs Group increased 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 restated a “buy” rating on shares of Okta in a research note on Tuesday, March 4th. Truist Financial lifted their price objective on shares of Okta from $92.00 to $100.00 and gave the company a “hold” rating in a research note on Tuesday, March 4th. Finally, JPMorgan Chase & Co. increased their target price on Okta from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $116.12.

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.