SCHEDULE 13G/A: Sands Capital Management and Frank M. Sands Disclose Passive Stake in Okta, Inc.

Sands Capital Management, LLC and Frank M. Sands have jointly filed an amended Schedule 13G, reporting a passive beneficial ownership of 0.3% of Okta, Inc.'s Class A Common Stock as of December 31, 2024.

Summary

• Sands Capital Management, LLC (SCM) and Frank M. Sands (Sands) jointly filed an Amendment No. 1 to Schedule 13G regarding their beneficial ownership in Okta, Inc.'s Class A Common Stock.
• As of December 31, 2024, the aggregate amount beneficially owned by both reporting persons is 457,648 shares.
• This ownership represents 0.3% of Okta, Inc.'s Class A Common Stock.
• Both SCM and Sands hold shared voting power and shared dispositive power over all 457,648 shares.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Okta, Inc.
• The shares are held in the accounts of various clients of Sands Capital Management, LLC, including pension plans, endowments, foundations, and mutual funds, none of whom individually hold more than 5% of the class.

Sentiment

Score: 5

Explanation: The document is a standard beneficial ownership disclosure (Schedule 13G) and does not contain information that would inherently indicate a positive or negative sentiment regarding the issuer's performance or outlook. It simply reports a passive ownership stake.

Positives

• The investment is stated to be for ordinary course of business, not for influencing control, which indicates a passive, long-term investment approach by a reputable firm.

Negatives

• No specific negatives related to Okta, Inc. are mentioned in this ownership disclosure.

Risks

• The reporting persons hold a minority stake (0.3%) and do not intend to influence or change control of Okta, Inc., limiting their direct impact on the company's strategic direction.

Future Outlook

The document does not provide any forward-looking statements or guidance regarding Okta, Inc.'s future performance or outlook.

Management Comments

• "We certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11."

Industry Context

This document is a specific ownership disclosure and does not provide broader industry context or trends for Okta, Inc.'s sector.

Stakeholder Impact

• Shareholders: Provides transparency on a significant institutional holding, albeit a passive one, which may offer some reassurance regarding institutional interest in the company.

Key Dates

Keywords

Okta, Inc., OKTA, Sands Capital Management, Frank M. Sands, Schedule 13G, beneficial ownership, Class A Common Stock, institutional investment, passive investment, SEC filing