Insider Selling: Oklo (NYSE:OKLO) CEO Sells 300,000 Shares of Stock

Oklo Inc. (NYSE:OKLO) CEO Jacob Dewitte sold 300,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 9,780,098 shares in the company, valued at approximately $1,097,913,801.48. The trade was a 2.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Oklo Stock Down 1.1%

NYSE:OKLO opened at $127.41 on Friday. The business’s 50-day moving average price is $87.18 and its two-hundred day moving average price is $57.36. Oklo Inc. has a twelve month low of $9.01 and a twelve month high of $144.49. The stock has a market cap of $18.81 billion, a P/E ratio of -303.35 and a beta of 0.69.

Oklo (NYSE:OKLO) last announced its quarterly earnings data 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, equities research analysts expect that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. HC Wainwright raised their price objective on Oklo from $55.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Seaport Res Ptn lowered Oklo from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. William Blair restated an “outperform” rating on shares of Oklo in a research report on Tuesday, August 12th. BTIG Research restated a “neutral” rating on shares of Oklo in a research report on Tuesday, August 12th. Finally, BNP Paribas Exane assumed coverage on Oklo in a report on Friday, July 25th. They issued an “underperform” rating and a $14.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $83.77.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Praxis Investment Management Inc. purchased a new position in shares of Oklo in the third quarter worth $351,000. CacheTech Inc. purchased a new position in shares of Oklo in the second quarter worth $437,000. Adams Wealth Management purchased a new position in shares of Oklo in the second quarter worth $437,000. Watts Gwilliam & Co. LLC purchased a new stake in Oklo during the second quarter valued at $570,000. Finally, Centaurus Financial Inc. purchased a new stake in Oklo during the second quarter valued at $138,000. Hedge funds and other institutional investors own 85.03% of the company’s stock.

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.