KLP Kapitalforvaltning AS Purchases 3,400 Shares of Oklo Inc. $OKLO

Key Points

• KLP Kapitalforvaltning AS increased its holdings in Oklo Inc. by 28.1%, acquiring an additional 3,400 shares in the second quarter, bringing their total to 15,500 shares valued at approximately $868,000.
• Insider William Carroll Murphy Goodwin sold 41,387 shares of Oklo stock for over $2.9 million, while Director Michael Stuart Klein sold 50,000 shares for about $6.7 million, resulting in a 25% reduction in Klein's ownership.
• Oklo's stock has seen multiple analyst upgrades, with Cantor Fitzgerald setting a target price of $73.00, and Wedbush raising their target to $150.00, reflecting positive sentiment on its performance despite past earnings misses.

KLP Kapitalforvaltning AS boosted its position in shares of Oklo Inc. (NYSE:OKLO - Free Report) by 28.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,500 shares of the company's stock after buying an additional 3,400 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Oklo were worth $868,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rhumbline Advisers bought a new position in Oklo in the 1st quarter worth $65,000. Wealth Enhancement Advisory Services LLC bought a new position in Oklo in the 1st quarter worth $254,000. Sowell Financial Services LLC raised its holdings in Oklo by 5.4% in the 1st quarter. Sowell Financial Services LLC now owns 15,275 shares of the company's stock worth $330,000 after purchasing an additional 782 shares in the last quarter. Rakuten Securities Inc. bought a new position in Oklo in the 1st quarter worth $137,000. Finally, Spirit of America Management Corp NY raised its holdings in Oklo by 1,650.0% in the 1st quarter. Spirit of America Management Corp NY now owns 17,500 shares of the company's stock worth $379,000 after purchasing an additional 16,500 shares in the last quarter. 85.03% of the stock is currently owned by institutional investors.

Insider Activity

In other Oklo news, insider William Carroll Murphy Goodwin sold 41,387 shares of the firm's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $70.09, for a total transaction of $2,900,814.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Stuart Klein sold 50,000 shares of the firm's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $133.76, for a total transaction of $6,688,000.00. Following the sale, the director owned 150,000 shares of the company's stock, valued at approximately $20,064,000. This represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 491,387 shares of company stock valued at $52,698,580 in the last quarter. 18.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

OKLO has been the subject of several research reports. Cantor Fitzgerald set a $73.00 price objective on shares of Oklo and gave the stock an "overweight" rating in a report on Tuesday, July 15th. BTIG Research restated a "neutral" rating on shares of Oklo in a report on Tuesday, August 12th. Citigroup upped their price objective on shares of Oklo from $30.00 to $68.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Wedbush upped their price objective on shares of Oklo from $80.00 to $150.00 and gave the stock an "outperform" rating in a report on Monday, September 22nd. Finally, Bank of America reiterated a "neutral" rating and issued a $117.00 price target (up from $92.00) on shares of Oklo in a research note on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $98.14.

Oklo Stock Performance

NYSE:OKLO opened at $171.86 on Thursday. The firm has a market cap of $25.37 billion, a P/E ratio of -409.18 and a beta of 0.69. Oklo Inc. has a fifty-two week low of $12.30 and a fifty-two week high of $193.84. The firm has a 50-day simple moving average of $99.08 and a two-hundred day simple moving average of $64.21.

Oklo (NYSE:OKLO - Get Free Report) last released its quarterly earnings data 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). On average, equities research analysts predict 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.

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