Westbourne Investments Inc. Makes New $347,000 Investment in Oklo Inc. $OKLO

Key Points

• Westbourne Investments Inc. acquired 6,200 shares of Oklo Inc. valued at approximately $347,000 during the second quarter, contributing to a significant institutional ownership of 85.03% in the company's stock.
• Oklo's stock has received mixed ratings from analysts; while HC Wainwright set a target price of $90.00 with a "buy" rating, BNP Paribas issued an "underperform" rating with a $14.00 target.
• Insider William Carroll Murphy Goodwin sold 41,387 shares of Oklo's stock for approximately $2.9 million, raising concerns about insider sentiment amid a backdrop of substantial trading activity.

Westbourne Investments Inc. bought a new position in shares of Oklo Inc. (NYSE:OKLO - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,200 shares of the company's stock, valued at approximately $347,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. KBC Group NV bought a new position in shares of Oklo during the first quarter worth about $36,000. Deutsche Bank AG grew its position in shares of Oklo by 161.7% during the first quarter. Deutsche Bank AG now owns 1,748 shares of the company's stock worth $38,000 after acquiring an additional 1,080 shares during the last quarter. Harbour Investments Inc. grew its position in shares of Oklo by 120.9% during the first quarter. Harbour Investments Inc. now owns 1,800 shares of the company's stock worth $39,000 after acquiring an additional 985 shares during the last quarter. Graybill Wealth Management LTD. bought a new position in shares of Oklo during the first quarter worth about $43,000. Finally, Vestor Capital LLC bought a new position in shares of Oklo during the first quarter worth about $43,000. 85.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider William Carroll Murphy Goodwin sold 41,387 shares of Oklo stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $70.09, for a total value of $2,900,814.83. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jacob Dewitte sold 300,000 shares of Oklo stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $55.20, for a total transaction 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 approximately $557,801,409.60. This represents a 2.88% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 491,387 shares of company stock worth $31,635,080. 18.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on OKLO shares. Bank of America initiated coverage on shares of Oklo in a research report on Tuesday, August 26th. They set a "buy" rating and a $92.00 price target for the company. Daiwa Capital Markets upgraded shares of Oklo from a "neutral" rating to an "outperform" rating in a research report on Sunday, July 27th. Daiwa America upgraded shares of Oklo from a "hold" rating to a "strong-buy" rating in a research report on Sunday, July 27th. William Blair reiterated an "outperform" rating on shares of Oklo in a research report on Tuesday, August 12th. Finally, Citigroup raised their price objective 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. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $66.45.

Oklo Trading Up 29.4%

OKLO stock traded up $30.91 during mid-day trading on Friday, reaching $135.88. 63,281,423 shares of the stock traded hands, compared to its average volume of 14,351,227. Oklo Inc. has a 52-week low of $7.00 and a 52-week high of $136.53. The company has a market cap of $20.06 billion, a P/E ratio of -323.52 and a beta of 0.59. The stock's fifty day moving average is $75.63 and its 200-day moving average is $50.61.

Oklo (NYSE:OKLO - Get Free Report) last posted 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). Equities research analysts expect that Oklo Inc. will post -8.2 earnings per share for the current 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.