Focus Partners Wealth Sells 303,238 Shares of Oklo Inc. $OKLO

Key Points

• Focus Partners Wealth reduced its stake in Oklo Inc. by 60%, leaving it with 201,753 shares valued at approximately $4.36 million at the end of the 1st quarter.
• Oklo reported a quarterly loss of ($0.18) EPS, which missed analysts' estimates of ($0.12), with forecasts projecting a fiscal year EPS of -8.2.
• The stock has seen significant interest from institutional investors, with 85.03% of the shares held by such entities and several firms recently increasing their positions in the company.

Focus Partners Wealth reduced its stake in shares of Oklo Inc. (NYSE:OKLO - Free Report) by 60.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 201,753 shares of the company's stock after selling 303,238 shares during the period. Focus Partners Wealth owned approximately 0.14% of Oklo worth $4,364,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in OKLO. Northern Trust Corp boosted its position in shares of Oklo by 10.7% in the 4th quarter. Northern Trust Corp now owns 167,304 shares of the company's stock worth $3,552,000 after buying an additional 16,222 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Oklo by 284.0% in the 4th quarter. Cetera Investment Advisers now owns 57,620 shares of the company's stock worth $1,223,000 after buying an additional 42,613 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Oklo in the 4th quarter worth about $312,000. Polar Asset Management Partners Inc. purchased a new stake in shares of Oklo in the 4th quarter worth about $781,000. Finally, Temasek Holdings Private Ltd purchased a new stake in shares of Oklo in the 4th quarter worth about $5,447,000. 85.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on OKLO shares. Citigroup boosted their price objective on shares of Oklo from $30.00 to $68.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. UBS Group initiated coverage on shares of Oklo in a report on Wednesday, August 20th. They issued a "neutral" rating and a $65.00 target price on the stock. Cantor Fitzgerald set a $73.00 target price on shares of Oklo and gave the company an "overweight" rating in a report on Tuesday, July 15th. Seaport Res Ptn upgraded shares of Oklo from a "hold" rating to a "strong-buy" rating in a report on Monday, June 9th. Finally, William Blair restated an "outperform" rating on shares of Oklo in a report on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Oklo currently has an average rating of "Moderate Buy" and an average price target of $66.45.

Insider Buying and Selling at Oklo

In other Oklo news, Director Michael Stuart Klein sold 50,000 shares of Oklo stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $54.85, for a total transaction of $2,742,500.00. Following the completion of the sale, the director owned 200,000 shares of the company's stock, valued at $10,970,000. This trade represents a 20.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider William Carroll Murphy Goodwin sold 41,387 shares of Oklo 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 disclosure for this sale can be found here. Insiders sold 541,387 shares of company stock valued at $31,614,315 in the last quarter. Company insiders own 18.90% of the company's stock.

Oklo Stock Down 3.2%

Oklo stock traded down $3.03 during midday trading on Wednesday, hitting $92.80. The company's stock had a trading volume of 9,347,884 shares, compared to its average volume of 17,641,600. The stock's 50-day moving average price is $72.23 and its 200-day moving average price is $49.04. Oklo Inc. has a 12 month low of $6.08 and a 12 month high of $96.77. The company has a market capitalization of $13.70 billion, a PE ratio of -221.22 and a beta of 0.59.

Oklo (NYSE:OKLO - Get Free Report) last issued its quarterly 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). As a group, equities analysts anticipate that Oklo Inc. will post -8.2 EPS for the current 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.