ARK Investment Management LLC Sells 97,633 Shares of Oklo Inc. $OKLO

Key Points

• ARK Investment Management LLC has reduced its holdings in Oklo Inc. by 33.9%, selling 97,633 shares and now owning 190,111 shares valued at approximately $10.64 million.
• Oklo's stock has shown a significant drop of 12.8%, with recent trading at $138.63, compared to a 12-month low of $17.14 and a high of $193.84.
• William Blair and Bank of America have maintained an "outperform" and "neutral" rating respectively, with the average consensus price target for Oklo's stock at $98.14.

ARK Investment Management LLC cut its holdings in shares of Oklo Inc. (NYSE:OKLO - Free Report) by 33.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 190,111 shares of the company's stock after selling 97,633 shares during the period. ARK Investment Management LLC owned 0.14% of Oklo worth $10,644,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. FNY Investment Advisers LLC boosted its stake in shares of Oklo by 7,190.9% during the second quarter. FNY Investment Advisers LLC now owns 802 shares of the company's stock valued at $44,000 after purchasing an additional 791 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Oklo in the second quarter valued at approximately $384,000. Spirit of America Management Corp NY boosted its stake in Oklo by 58.9% in the second quarter. Spirit of America Management Corp NY now owns 27,800 shares of the company's stock valued at $1,557,000 after acquiring an additional 10,300 shares in the last quarter. RWQ Financial Management Services Inc. acquired a new stake in Oklo in the second quarter valued at approximately $5,451,000. Finally, Stratos Wealth Partners LTD. boosted its stake in Oklo by 11.3% in the second quarter. Stratos Wealth Partners LTD. now owns 25,820 shares of the company's stock valued at $1,446,000 after acquiring an additional 2,625 shares in the last quarter. 85.03% of the stock is currently owned by institutional investors.

Oklo Trading Down 12.8%

NYSE OKLO opened at $138.63 on Wednesday. The company has a fifty day simple moving average of $105.44 and a two-hundred day simple moving average of $68.22. The stock has a market cap of $20.46 billion, a P/E ratio of -330.06 and a beta of 0.69. Oklo Inc. has a 12-month low of $17.14 and a 12-month high of $193.84.

Oklo (NYSE:OKLO - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.06). As a group, sell-side analysts forecast that Oklo Inc. will post -8.2 earnings per share for the current year.

Insider Buying and Selling at Oklo

In related news, insider William Carroll Murphy Goodwin sold 41,387 shares of the firm's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $70.09, for a total transaction of $2,900,814.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Craig Bealmear sold 92,378 shares of the firm's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $93.73, for a total transaction of $8,658,589.94. Following the transaction, the chief financial officer directly owned 75,738 shares of the company's stock, valued at approximately $7,098,922.74. This trade represents a 54.95% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 491,387 shares of company stock worth $52,698,580. 18.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. William Blair restated an "outperform" rating on shares of Oklo in a research note on Tuesday, August 12th. Bank of America restated a "neutral" rating and issued a $117.00 target price (up from $92.00) on shares of Oklo in a research note on Tuesday, September 30th. BNP Paribas upgraded shares of Oklo to a "strong sell" rating in a research note on Friday, July 25th. Daiwa America upgraded shares of Oklo from a "hold" rating to a "strong-buy" rating in a research note on Sunday, July 27th. Finally, Cantor Fitzgerald set a $73.00 price target on shares of Oklo and gave the stock an "overweight" rating in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, Oklo has an average rating of "Hold" and a consensus price target of $98.14.

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.

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