Top 5 Stocks That Kayak Investment Partners is Buying

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Below we present the list of Top 5 Stocks That Kayak Investment Partners is Buying. For our methodology and a more comprehensive list please see Top 10 Stocks That Kayak Investment Partners is Buying.

5. Okta, Inc. (NASDAQ:OKTA)

Kicking off the second half of our list of Kayak Investment Partners’ biggest purchases is Okta, Inc. (NASDAQ:OKTA), the identity and access management software company. The fund raised its stake in the company by 66% during the third quarter, which gave it 116,100 shares valued at $27.56 million on September 30. Hedge fund ownership of Okta has steadily risen since the company went public in 2017, rising six-fold while OKTA shares have risen ten-fold.

Hedge funds like Okta, Inc. (NASDAQ:OKTA)’s cloud workforce solutions and believe they could help Okta, Inc. (NASDAQ:OKTA) generate greater than 30% revenue growth annually over the next five years. Okta, Inc. (NASDAQ:OKTA) also appears to be facing minimal threatening competition as it successfully targets developers and IT managers with its suite of offerings.

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