Oklo (NYSE:OKLO) CEO Sells $33,678,000.00 in Stock

Oklo Inc. (NYSE:OKLO) CEO Jacob Dewitte sold 300,000 shares of Oklo stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $112.26, for a total value of $33,678,000.00. Following the sale, the chief executive officer owned 9,780,098 shares in the company, valued at $1,097,913,801.48. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Oklo Trading Down 1.1%

OKLO opened at $127.41 on Friday. The company has a market cap of $18.81 billion, a price-to-earnings ratio of -303.35 and a beta of 0.69. The stock has a fifty day simple moving average of $87.18 and a two-hundred day simple moving average of $57.56. Oklo Inc. has a 12-month low of $9.01 and a 12-month high of $144.49.

Oklo (NYSE:OKLO) last released its earnings results on Monday, August 11th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). On average, analysts predict that Oklo Inc. will post -8.2 EPS for the current year.

Analyst Ratings Changes

OKLO has been the subject of a number of analyst reports. William Blair reaffirmed an “outperform” rating on shares of Oklo in a research note on Tuesday, August 12th. Bank of America reaffirmed a “neutral” rating and set a $117.00 price objective (up previously from $92.00) on shares of Oklo in a research report on Tuesday, September 30th. Citigroup boosted their target price on Oklo from $30.00 to $68.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Wedbush increased their target price on Oklo from $80.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, September 22nd. Finally, Craig Hallum lowered Oklo from a “buy” rating to a “hold” rating and set a $59.00 price target for the company. in a research report on Monday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $83.77.

Institutional Trading of Oklo

Several institutional investors have recently added to or reduced their stakes in the business. State Street Corp increased its holdings in shares of Oklo by 454.5% in the 2nd quarter. State Street Corp now owns 2,138,658 shares of the company’s stock worth $119,743,000 after purchasing an additional 1,752,946 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Oklo by 195.9% during the second quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company’s stock valued at $125,906,000 after buying an additional 1,488,482 shares during the last quarter. Hood River Capital Management LLC bought a new stake in Oklo in the 2nd quarter worth about $40,919,000. Millennium Management LLC raised its position in Oklo by 4,974.1% in the 1st quarter. Millennium Management LLC now owns 582,002 shares of the company’s stock worth $12,589,000 after buying an additional 570,532 shares during the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new position in Oklo during the 1st quarter valued at about $11,674,000. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

About Oklo

Oklo Inc designs and develops fission power plants to provide reliable and commercial-scale energy to customers in the United States. It also provides used nuclear fuel recycling services. The company was founded in 2013 and is based in Santa Clara, California.