AE Wealth Management LLC Takes Position in Oklo Inc. (NYSE:OKLO)

Key Points

• AE Wealth Management LLC acquired 69,399 shares of Oklo Inc., valued at approximately $1.5 million, marking its first position in the company.
• CEO Jacob Dewitte sold 300,000 shares of Oklo stock for $16.56 million, reducing his ownership by 2.88%, while insiders collectively sold 600,000 shares valued at $35.07 million in the last quarter.
• Oklo's stock has a market capitalization of $10.52 billion and its earnings per share for the latest quarter beat analysts' expectations, reporting a loss of ($0.07) compared to the consensus estimate of ($0.11).

AE Wealth Management LLC acquired a new position in shares of Oklo Inc. (NYSE:OKLO - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 69,399 shares of the company's stock, valued at approximately $1,501,000.

Other large investors have also recently modified their holdings of the company. Barclays PLC grew its holdings in Oklo by 5.7% in the fourth quarter. Barclays PLC now owns 7,666 shares of the company's stock worth $163,000 after purchasing an additional 416 shares during the last quarter. Signaturefd LLC boosted its position in shares of Oklo by 5.4% in the 1st quarter. Signaturefd LLC now owns 8,962 shares of the company's stock worth $194,000 after purchasing an additional 462 shares in the last quarter. Spire Wealth Management grew its stake in Oklo by 14.1% during the 1st quarter. Spire Wealth Management now owns 3,896 shares of the company's stock worth $84,000 after buying an additional 481 shares during the last quarter. Ancora Advisors LLC increased its position in Oklo by 18.2% during the 4th quarter. Ancora Advisors LLC now owns 4,610 shares of the company's stock valued at $98,000 after buying an additional 710 shares in the last quarter. Finally, Sowell Financial Services LLC raised its stake in Oklo by 5.4% in the first quarter. Sowell Financial Services LLC now owns 15,275 shares of the company's stock valued at $330,000 after buying an additional 782 shares during the last quarter. Institutional investors own 85.03% of the company's stock.

Insider Activity at Oklo

In other news, CEO Jacob Dewitte sold 300,000 shares of Oklo stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $55.20, for a total transaction of $16,560,000.00. Following the completion of the transaction, the chief executive officer directly owned 10,105,098 shares of the company's stock, valued at $557,801,409.60. The trade was a 2.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Stuart Klein sold 150,000 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $62.74, for a total transaction of $9,411,000.00. Following the sale, the director directly owned 250,000 shares in the company, valued at $15,685,000. This trade represents a 37.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 600,000 shares of company stock valued at $35,066,500. 18.90% of the stock is owned by company insiders.

Oklo Price Performance

NYSE OKLO opened at $75.37 on Monday. The company has a market capitalization of $10.52 billion, a PE ratio of -13.93 and a beta of 0.57. The company has a fifty day moving average of $56.39 and a 200 day moving average of $39.81. Oklo Inc. has a 1 year low of $5.35 and a 1 year high of $77.17.

Oklo (NYSE:OKLO - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.04. Research analysts expect that Oklo Inc. will post -8.2 earnings per share for the current year.

Wall Street Analyst Weigh In

OKLO has been the topic of a number of research analyst reports. Cantor Fitzgerald started coverage on Oklo in a research note on Tuesday, July 15th. They set an "overweight" rating and a $73.00 price target on the stock. BTIG Research initiated coverage on shares of Oklo in a research note on Friday, April 11th. They set a "neutral" rating on the stock. Citigroup lifted their price objective on shares of Oklo from $30.00 to $68.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Seaport Res Ptn raised Oklo from a "hold" rating to a "strong-buy" rating in a research report on Monday, June 9th. Finally, Craig Hallum lowered Oklo from a "buy" rating to a "hold" rating and set a $59.00 target price for the company. in a research note on Monday, June 23rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $59.33.

Oklo Profile

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.

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