BlackRock Amends Okta Stake, Signals Continued Passive Investment

TL;DR

**BlackRock still owns a big chunk of Okta, showing they're sticking with the stock.**

AI Summary

BlackRock, Inc. filed an amended SC 13G/A on January 29, 2024, disclosing its ownership of Okta, Inc. Class A Common Stock as of December 31, 2023. This filing, an amendment number 4, indicates BlackRock's continued significant, but passive, investment in Okta. This matters to investors because BlackRock is one of the world's largest asset managers, and its substantial holding signals a vote of confidence in Okta's long-term prospects, potentially influencing other institutional investors.

Why It Matters

BlackRock's ongoing significant ownership in Okta, Inc. suggests institutional confidence in the company, which can be a positive signal for current and prospective shareholders.

Risk Assessment

Risk Level: low — This filing is routine and indicates a passive investment, posing minimal direct risk to shareholders.

Analyst Insight

Investors should note BlackRock's continued passive stake as a sign of institutional stability, but this filing alone doesn't suggest an immediate buy or sell action. It's a routine update on a significant, but non-activist, holding.

Key Players & Entities

• BlackRock, Inc. (company) — the reporting person and a major institutional investor
• Okta, Inc. (company) — the subject company whose securities are being reported
• December 31, 2023 (date) — the date of the event requiring the filing
• January 29, 2024 (date) — the filing date of the SC 13G/A amendment

FAQ

From the Filing

0001086364-24-005623.txt : 20240129 0001086364-24-005623.hdr.sgml : 20240129 20240129172557 ACCESSION NUMBER: 0001086364-24-005623 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240129 DATE AS OF CHANGE: 20240129 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Okta, Inc. CENTRAL INDEX KEY: 0001660134 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] ORGANIZATION NAME: 06 Technology IRS NUMBER: 264175727 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-89976 FILM NUMBER: 24574983 BUSINESS ADDRESS: STREET 1: 100 FIRST STREET STREET 2: SUITE 600 CITY: SAN FRANCISCO STATE: CA ZIP: 94105 BUSINESS PHONE: 888-722-7871 MAIL ADDRESS: STREET 1: 100 FIRST STREET STREET 2: SUITE 600 CITY: SAN FRANCISCO STATE: CA ZIP: 94105 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc. CENTRAL INDEX KEY: 0001364742 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] ORGANIZATION NAME: 02 Finance IRS NUMBER: 320174431 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 212-810-5300 MAIL ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 FORMER COMPANY: FORMER CONFORMED NAME: BlackRock, Inc. DATE OF NAME CHANGE: 20060929 FORMER COMPANY: FORMER CONFORMED NAME: New BlackRock, Inc. DATE OF NAME CHANGE: 20060601 SC 13G/A 1 us6792951054_012924.txt us6792951054_012924.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 4) Okta, Inc. -------------------------------------------------------- (Name of Issuer) Class A Common Stock -------------------------------------------------------- (Title of Class of Securities) 679295105 -------------------------------------------------------- (CUSIP Number) December 31, 2023 -------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 679295105 (1)Names of reporting persons. BlackRock, Inc. (2) Check the appropriate box if a member of a group (a) [ ] (b) [X] (3) SEC use only (4) Citizenship or place of organization Delaware Number of shares beneficially owned by each reporting person with: (5) Sole voting power 8225993 (6) Shared voting power 0 (7) Sole dispositive power 9119528 (8) Shared dispositive power 0 (9) Aggregate amount beneficially owned by each reporting person 9119528 (10) Check if the aggregate amount in Row (9) excludes certain shares (11) Percent of class represented by amount in Row 9 5.8% (12) Type of reporting person HC Item 1. Item 1(a) Name of issuer: ----------------------------------------------------------------------- Okta, Inc. Item 1(b) Address of issuer's principal executive offices: ----------------------------------------------------------------------- 100 FIRST STREET, SUITE 600 SAN FRANCISCO CA 94105 Item 2. 2(a) Name of person filing: ---------------------------------------------------------------------- BlackRock, Inc. 2(b) Address or principal business office or, if none, residence: --------