From Yahoo Finance: 2025-05-28 09:32:00

Sands Capital Management LLC released its Q1 2025 investor letter for the Sands Capital Technology Innovators Fund. The fund returned -10.4% (net) in the first quarter compared to a benchmark return of 9.4%. The software sector’s choice of securities had a negative impact on relative performance.

In the investor letter, Sands Capital Technology Innovators Fund highlighted Okta, Inc. (NASDAQ:OKTA). Okta, Inc. is an identity partner offering products to manage and secure identities. The one-month return of Okta, Inc. was -1.52%, with shares gaining 14.63% in the last 52 weeks. On May 27, 2025, Okta, Inc. stock closed at $125.50 per share.

Sands Capital Technology Innovators Fund praised Okta, Inc. in its Q1 2025 investor letter, citing the company as the leading independent provider of enterprise identity and access management software. Okta reported strong quarterly results, with quarterly bookings surpassing $1 billion for the first time and new products accounting for 20% of the quarter’s bookings.

Okta, Inc. is not among the 30 Most Popular Stocks Among Hedge Funds, with 65 hedge fund portfolios holding the stock at the end of the first quarter. While acknowledging Okta’s potential, the focus is on AI stocks for higher returns in a shorter timeframe. For an AI stock with massive gains potential, check out the undervalued AI stock report.

Read more: Robust Results Lifted Okta (OKTA) in Q1