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5 Investors Betting Big on Okta (OKTA) Stock


  • Shares of Okta (OKTA) stock sunk over 2% in afternoon trading on additional details about a recent hack.
  • The company admitted that the entirety of its consumer data had been compromised by a recent hack.
  • Here are the top investors in the company, most affected by today’s decline.
OKTA stock - 5 Investors Betting Big on Okta (OKTA) Stock

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One of today’s trending stocks is none other than identity management company Okta (NASDAQ:OKTA). Shares of OKTA stock are down over 2% in early afternoon trading, on some rather unfortunate and negative news for the company.

Okta reported today that a previous hack in October is worse than previously thought. The company initially suggested that only a portion of its customers were affected by the hack. However, upon further investigation, Okta acknowledged that a “hacker used a stolen credential to access its support case management system and steal customer-uploaded session tokens that could be used to break into the networks of Okta customers.” Unsurprisingly, this news has shaken some investor confidence, with today’s decline (in the context of an otherwise strong day for stocks in general) suggesting some selling pressure is building.

Of course, single-day moves like this don’t really make a dent in long-term investor portfolios. Those looking to hold the stock over a multi-year time horizon may be hesitant to sell, considering OKTA stock is still up on a year-to-date basis. However, if this hack ends up being much worse than expected, some investors may look to take a cautious tone.

With that said, let’s dive into who the largest shareholders in Okta are for those intrigued by today’s price action.

The 5 Largest Investors in OKTA Stock

For reference, this data is provided courtesy of Whale Wisdom:

  • Okta’s largest shareholder is, unsurprisingly, mutual fund and ETF provider Vanguard. The company owns 15.3 million shares of OKTA stock, valued at approximately $1.25 billion.
  • FMR is second on the list, owning a whopping 13.9 million shares worth roughly $1.14 billion.
  • Another major player in financial markets, Blackrock (NYSE:BLK), owns 8.7 million shares, or $712 million worth of OKTA stock.
  • Sands Capital Management comes in fourth, owning 5.9 million shares of OKTA, worth $479 million.
  • American Century Companies rounds out the list, with 4.3 million shares worth a little more than $350 million.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.

Article printed from InvestorPlace Media, https://investorplace.com/2023/11/5-investors-betting-big-on-okta-okta-stock/.

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