Park Avenue Securities LLC Cuts Stake in Oklo Inc. $OKLO

Key Points

• Park Avenue Securities LLC reduced its stake in Oklo Inc. by 21.7%, holding 13,533 shares worth approximately $758,000 after selling 3,750 shares in the second quarter.
• Institutional investors now own 85.03% of Oklo's stock, with significant increases in holdings from firms such as Millennium Management and Raymond James.
• Various brokerages have updated their ratings on Oklo, with Wedbush increasing the price target from $80.00 to $150.00 and an average current price target of $76.50.

Park Avenue Securities LLC lessened its stake in Oklo Inc. (NYSE:OKLO - Free Report) by 21.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,533 shares of the company's stock after selling 3,750 shares during the period. Park Avenue Securities LLC's holdings in Oklo were worth $758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Millennium Management LLC lifted its holdings in shares of Oklo by 4,974.1% during the first quarter. Millennium Management LLC now owns 582,002 shares of the company's stock worth $12,589,000 after purchasing an additional 570,532 shares during the period. CloudAlpha Capital Management Limited Hong Kong acquired a new position in Oklo in the first quarter valued at approximately $11,674,000. Jump Financial LLC acquired a new position in Oklo in the first quarter valued at approximately $6,929,000. Raymond James Financial Inc. increased its position in shares of Oklo by 202.6% in the first quarter. Raymond James Financial Inc. now owns 314,794 shares of the company's stock valued at $6,809,000 after buying an additional 210,755 shares in the last quarter. Finally, Headlands Technologies LLC increased its position in shares of Oklo by 2,120.2% in the first quarter. Headlands Technologies LLC now owns 218,820 shares of the company's stock valued at $4,733,000 after buying an additional 208,964 shares in the last quarter. Hedge funds and other institutional investors own 85.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on OKLO. Daiwa Capital Markets upgraded Oklo from a "neutral" rating to an "outperform" rating in a research report on Sunday, July 27th. Craig Hallum lowered Oklo from a "buy" rating to a "hold" rating and set a $59.00 price objective on the stock. in a research note on Monday, June 23rd. Wedbush upped their price target on Oklo from $80.00 to $150.00 and gave the company an "outperform" rating in a research note on Monday, September 22nd. BTIG Research restated a "neutral" rating on shares of Oklo in a report on Tuesday, August 12th. Finally, Seaport Res Ptn downgraded Oklo from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $76.50.

Insider Transactions at Oklo

In other news, Director Michael Stuart Klein sold 50,000 shares of the firm's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $133.76, for a total transaction of $6,688,000.00. Following the completion of the sale, the director directly owned 150,000 shares of the company's stock, valued at $20,064,000. This trade represents a 25.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Richard Craig Bealmear sold 92,378 shares of the firm's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $93.73, for a total value of $8,658,589.94. Following the sale, the chief financial officer directly owned 75,738 shares of the company's stock, valued at approximately $7,098,922.74. This represents a 54.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 491,387 shares of company stock valued at $35,580,580. Company insiders own 18.90% of the company's stock.

Oklo Trading Down 7.4%

OKLO stock opened at $110.33 on Friday. The stock has a 50-day moving average price of $82.00 and a two-hundred day moving average price of $54.33. Oklo Inc. has a 12-month low of $7.90 and a 12-month high of $144.49. The company has a market cap of $16.29 billion, a PE ratio of -262.67 and a beta of 0.59.

Oklo (NYSE:OKLO - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). Equities analysts forecast that Oklo Inc. will post -8.2 EPS for the current fiscal year.

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.

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