LPL Financial LLC Has $5.74 Million Stock Holdings in Oklo Inc. (NYSE:OKLO)

Key Points

• LPL Financial LLC increased its holdings in Oklo Inc. by 103.9% during the 1st quarter, owning approximately 265,241 shares worth $5.74 million.
• Oklo Inc.'s stock was reported to have a consensus rating of "Moderate Buy" with a price target of $63.78, and recent analysts' reviews have provided mixed ratings for the company.
• CEO Jacob Dewitte sold 300,000 shares of Oklo stock for over $16.5 million, indicating a 2.88% decrease in his holdings.

LPL Financial LLC boosted its position in shares of Oklo Inc. (NYSE:OKLO - Free Report) by 103.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 265,241 shares of the company's stock after buying an additional 135,157 shares during the quarter. LPL Financial LLC owned approximately 0.19% of Oklo worth $5,737,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. TD Waterhouse Canada Inc. acquired a new position in Oklo during the 4th quarter worth $27,000. CoreCap Advisors LLC acquired a new position in Oklo during the 4th quarter worth $32,000. Covestor Ltd acquired a new position in Oklo during the 4th quarter worth $34,000. KBC Group NV acquired a new position in Oklo during the 1st quarter worth $36,000. Finally, Graybill Wealth Management LTD. acquired a new position in Oklo during the 1st quarter worth $43,000. Institutional investors and hedge funds own 85.03% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on OKLO shares. BNP Paribas Exane began coverage on Oklo in a report on Friday, July 25th. They set an "underperform" rating and a $14.00 price objective on the stock. BNP Paribas upgraded shares of Oklo to a "strong sell" rating in a research report on Friday, July 25th. William Blair reiterated an "outperform" rating on shares of Oklo in a research report on Tuesday. Citigroup upped their target price on shares of Oklo from $30.00 to $68.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Finally, BTIG Research reiterated a "neutral" rating on shares of Oklo in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $63.78.

Oklo Stock Up 9.5%

OKLO opened at $78.71 on Wednesday. Oklo Inc. has a 12 month low of $5.35 and a 12 month high of $85.35. The company has a fifty day simple moving average of $63.37 and a 200 day simple moving average of $43.70. The stock has a market cap of $10.98 billion, a P/E ratio of -187.40 and a beta of 0.60.

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

Insiders Place Their Bets

In related news, CEO Jacob Dewitte sold 300,000 shares of the company's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $55.20, for a total value of $16,560,000.00. Following the completion of the transaction, the chief executive officer directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Stuart Klein sold 50,000 shares of the company's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $54.85, for a total transaction of $2,742,500.00. Following the completion of the transaction, the director directly owned 200,000 shares of the company's stock, valued at approximately $10,970,000. The trade was a 20.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 600,000 shares of company stock valued at $35,066,500. 18.90% of the stock is owned by corporate insiders.

Oklo 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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