JAT Capital Mgmt LP Decreases Stock Holdings in Oklo Inc. $OKLO

Key Points

• JAT Capital Mgmt LP significantly reduced its stake in Oklo Inc. by 82.2%, selling 573,212 shares, and now holds only 123,830 shares which represent about 1.0% of its portfolio.
• Oklo's stock has recently seen a decline of 5.3%, opening at $73.75 with a market cap of $10.89 billion.
• Diverse institutional investors, including Barclays and Northern Trust, have increased their positions in Oklo, with 85.03% of the stock currently being owned by institutional investors.

JAT Capital Mgmt LP lessened its stake in shares of Oklo Inc. (NYSE:OKLO - Free Report) by 82.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 123,830 shares of the company's stock after selling 573,212 shares during the period. Oklo makes up approximately 1.0% of JAT Capital Mgmt LP's holdings, making the stock its 13th largest holding. JAT Capital Mgmt LP owned approximately 0.09% of Oklo worth $2,678,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of OKLO. CoreCap Advisors LLC purchased a new stake in Oklo during the 4th quarter valued at $32,000. KBC Group NV purchased a new stake in Oklo during the 1st quarter valued at $36,000. Deutsche Bank AG raised its holdings in Oklo by 161.7% during 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 period. Harbour Investments Inc. raised its holdings in Oklo by 120.9% during 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 period. Finally, Graybill Wealth Management LTD. purchased a new stake in Oklo during the 1st quarter valued at $43,000. Hedge funds and other institutional investors own 85.03% of the company's stock.

Oklo Trading Down 0.0%

Shares of OKLO traded down $0.03 during midday trading on Friday, reaching $69.58. 12,087,338 shares of the stock were exchanged, compared to its average volume of 13,193,912. Oklo Inc. has a 52 week low of $5.35 and a 52 week high of $85.35. The company's 50 day moving average is $68.31 and its two-hundred day moving average is $46.79. The company has a market capitalization of $10.27 billion, a P/E ratio of -165.67 and a beta of 0.59.

Oklo (NYSE:OKLO - Get Free Report) last posted its quarterly earnings results 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). On average, sell-side analysts expect that Oklo Inc. will post -8.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Daiwa Capital Markets raised Oklo from a "neutral" rating to an "outperform" rating in a research report on Sunday, July 27th. UBS Group assumed coverage on Oklo in a research report on Wednesday, August 20th. They issued a "neutral" rating and a $65.00 price objective on the stock. CLSA raised Oklo from an "outperform" rating to a "moderate buy" rating and upped their price objective for the company from $50.00 to $74.00 in a research report on Tuesday, May 27th. William Blair reaffirmed an "outperform" rating on shares of Oklo in a research report on Tuesday, August 12th. Finally, Citigroup upped their price objective on Oklo from $30.00 to $68.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.45.

Insiders Place Their Bets

In other news, CEO Jacob Dewitte sold 300,000 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of $55.20, for a total transaction of $16,560,000.00. Following the transaction, the chief executive officer owned 10,105,098 shares of the company's stock, valued at approximately $557,801,409.60. This represents a 2.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $9,411,000.00. Following the transaction, the director directly owned 250,000 shares in the company, valued at $15,685,000. The trade was a 37.50% decrease in their position. 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 in the last three months. Corporate insiders own 18.90% of the company's stock.

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.