Baird Financial Group Inc. Sells 50,971 Shares of Oklo Inc. $OKLO

Key Points

• Baird Financial Group Inc. reduced its stake in Oklo Inc. by 19.8%, selling 50,971 shares and maintaining ownership of 206,223 shares, valued at approximately $4.46 million.
• Several institutional investors, including Deutsche Bank AG and Harbour Investments Inc., increased their positions significantly, indicating continued institutional interest in Oklo.
• Insiders at Oklo have sold a total of 600,000 shares valued at over $35 million in the past ninety days, with a noted decline in ownership percentages among key executives.

Baird Financial Group Inc. reduced its stake in Oklo Inc. (NYSE:OKLO - Free Report) by 19.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 206,223 shares of the company's stock after selling 50,971 shares during the period. Baird Financial Group Inc. owned about 0.15% of Oklo worth $4,461,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. CoreCap Advisors LLC bought a new position in Oklo in the 4th quarter valued at approximately $32,000. KBC Group NV bought a new position in Oklo in the 1st quarter valued at approximately $36,000. Deutsche Bank AG raised its holdings in Oklo by 161.7% in the 1st quarter. Deutsche Bank AG now owns 1,748 shares of the company's stock valued at $38,000 after buying an additional 1,080 shares during the last quarter. Harbour Investments Inc. raised its holdings in Oklo by 120.9% in the 1st quarter. Harbour Investments Inc. now owns 1,800 shares of the company's stock valued at $39,000 after buying an additional 985 shares during the last quarter. Finally, Graybill Wealth Management LTD. bought a new position in Oklo in the 1st quarter valued at approximately $43,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Oklo news, CEO Jacob Dewitte sold 300,000 shares of Oklo stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Stuart Klein sold 150,000 shares of the business's stock in a transaction dated 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 completion of the transaction, 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. Insiders have sold a total of 600,000 shares of company stock worth $35,066,500 over the last ninety days. Insiders own 18.90% of the company's stock.

Wall Street Analysts Forecast Growth

OKLO has been the subject of several analyst reports. HC Wainwright raised their price target on shares of Oklo from $55.00 to $90.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. BNP Paribas Exane began coverage on shares of Oklo in a report on Friday, July 25th. They set an "underperform" rating and a $14.00 price target for the company. BTIG Research reiterated a "neutral" rating on shares of Oklo in a research note on Tuesday, August 12th. Bank of America began coverage on shares of Oklo in a research note on Tuesday, August 26th. They issued a "buy" rating and a $92.00 price objective for the company. Finally, BNP Paribas upgraded shares of Oklo to a "strong sell" rating in a research note on Friday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $66.45.

Oklo Stock Performance

OKLO traded up $1.73 during mid-day trading on Monday, reaching $71.52. 2,374,467 shares of the stock were exchanged, compared to its average volume of 17,671,654. The stock has a market capitalization of $10.56 billion, a PE ratio of -168.84 and a beta of 0.59. The company has a 50 day moving average price of $68.31 and a two-hundred day moving average price of $46.83. Oklo Inc. has a 1 year low of $5.35 and a 1 year high of $85.35.

Oklo (NYSE:OKLO - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). Sell-side analysts expect that Oklo Inc. will post -8.2 EPS for the current fiscal year.

Oklo Company 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.