Alyeska Investment Group L.P. Sells 1,056,281 Shares of Oklo Inc. $OKLO

Key Points

• Alyeska Investment Group L.P. has significantly reduced its stake in Oklo Inc., selling 1,056,281 shares and decreasing its position by 87.6% in the first quarter.
• Oklo's stock price currently sits at $69.58, with a market capitalization of $10.27 billion and a PE ratio of -165.67, highlighting its recent earnings challenges.
• Recent analyst ratings indicate a generally positive outlook for Oklo, with an average target price of $66.45, and two analysts rating it as a Strong Buy.

Alyeska Investment Group L.P. reduced its position in Oklo Inc. (NYSE:OKLO - Free Report) by 87.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 150,000 shares of the company's stock after selling 1,056,281 shares during the period. Alyeska Investment Group L.P. owned about 0.11% of Oklo worth $3,244,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Barclays PLC lifted its holdings in shares of Oklo by 5.7% during the fourth quarter. Barclays PLC now owns 7,666 shares of the company's stock worth $163,000 after buying an additional 416 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of Oklo during the fourth quarter worth $267,000. Tower Research Capital LLC TRC increased its holdings in shares of Oklo by 1,048.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,859 shares of the company's stock worth $103,000 after buying an additional 4,436 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Oklo by 10.7% during the fourth quarter. Northern Trust Corp now owns 167,304 shares of the company's stock valued at $3,552,000 after purchasing an additional 16,222 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in Oklo in the 4th quarter valued at approximately $354,000. 85.03% of the stock is owned by institutional investors.

Insider Transactions at Oklo

In related news, CEO Jacob Dewitte sold 300,000 shares of the business's stock in a transaction that occurred 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 in the company, valued at $557,801,409.60. The trade was a 2.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 value of $9,411,000.00. Following the completion of the transaction, the director directly owned 250,000 shares of the company's stock, valued at approximately $15,685,000. This trade represents a 37.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 600,000 shares of company stock worth $35,066,500. 18.90% of the stock is currently owned by company insiders.

Oklo Stock Up 4.9%

Shares of NYSE OKLO traded up $3.45 during midday trading on Tuesday, reaching $74.17. The company had a trading volume of 11,914,303 shares, compared to its average volume of 17,663,875. The stock has a market cap of $10.95 billion, a PE ratio of -176.59 and a beta of 0.59. Oklo Inc. has a one year low of $5.57 and a one year high of $85.35. The firm's fifty day moving average price is $68.60 and its 200-day moving average price is $47.05.

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on OKLO shares. Wedbush increased their price target on Oklo from $75.00 to $80.00 and gave the company an "outperform" rating in a research note on Tuesday, August 12th. UBS Group started coverage on Oklo in a report on Wednesday, August 20th. They issued a "neutral" rating and a $65.00 price target on the stock. BTIG Research reaffirmed a "neutral" rating on shares of Oklo in a research report on Tuesday, August 12th. Seaport Res Ptn upgraded shares of Oklo from a "hold" rating to a "strong-buy" rating in a report on Monday, June 9th. Finally, Citigroup boosted their price objective on Oklo from $30.00 to $68.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Two research 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 assigned a Sell rating to the stock. According to MarketBeat, Oklo currently has an average rating of "Moderate Buy" and an average target price of $66.45.

About Oklo

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.