Westwood Wealth Management Purchases 90,800 Shares of Oklo Inc. $OKLO

Key Points

• Westwood Wealth Management increased its stake in Oklo Inc. by 460.9% in Q1, now holding approximately $2.39 million worth of stock.
• Oklo reported a quarterly loss of ($0.18) earnings per share, missing analysts' expectations, while an average rating of the stock stands at "Moderate Buy" with a target price of $63.90.
• Insiders, including the CEO, sold substantial shares totaling over $35 million recently, reducing their ownership percentage in the company.

Westwood Wealth Management grew its stake in Oklo Inc. (NYSE:OKLO - Free Report) by 460.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 110,500 shares of the company's stock after acquiring an additional 90,800 shares during the quarter. Oklo accounts for 1.0% of Westwood Wealth Management's portfolio, making the stock its 16th biggest holding. Westwood Wealth Management owned about 0.08% of Oklo worth $2,390,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. TD Waterhouse Canada Inc. purchased a new position in shares of Oklo in the 4th quarter worth about $27,000. CoreCap Advisors LLC purchased a new position in Oklo in the fourth quarter worth about $32,000. KBC Group NV bought a new position in shares of Oklo in the first quarter worth approximately $36,000. Deutsche Bank AG grew its holdings in shares of Oklo by 161.7% during the first quarter. Deutsche Bank AG now owns 1,748 shares of the company's stock valued at $38,000 after buying an additional 1,080 shares during the last quarter. Finally, Harbour Investments Inc. grew its holdings in shares of Oklo by 120.9% during the first quarter. Harbour Investments Inc. now owns 1,800 shares of the company's stock valued at $39,000 after buying an additional 985 shares during the last quarter. 85.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

OKLO has been the topic of several analyst reports. Daiwa America raised Oklo from a "hold" rating to a "strong-buy" rating in a research report on Sunday, July 27th. Wedbush upped their price target on Oklo from $75.00 to $80.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Seaport Res Ptn upgraded Oklo from a "hold" rating to a "strong-buy" rating in a report on Monday, June 9th. William Blair reissued an "outperform" rating on shares of Oklo in a research report on Tuesday, August 12th. Finally, CLSA upgraded shares of Oklo from an "outperform" rating to a "moderate buy" rating and upped their target price for the company from $50.00 to $74.00 in a research note on Tuesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $63.90.

Oklo Stock Up 4.9%

NYSE:OKLO traded up $3.2890 on Friday, hitting $70.4790. The stock had a trading volume of 14,091,870 shares, compared to its average volume of 16,165,786. The business's 50-day simple moving average is $65.59 and its two-hundred day simple moving average is $45.31. The stock has a market cap of $10.40 billion, a price-to-earnings ratio of -167.80 and a beta of 0.60. Oklo Inc. has a 52-week low of $5.35 and a 52-week high of $85.35.

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 the consensus estimate of ($0.12) by ($0.06). As a group, equities research analysts anticipate that Oklo Inc. will post -8.2 EPS for the current year.

Insider Activity at Oklo

In other news, Director Michael Stuart Klein sold 150,000 shares of Oklo stock in a transaction on Friday, June 20th. The shares were sold at an average price of $62.74, for a total transaction of $9,411,000.00. Following the transaction, the director owned 250,000 shares in the company, valued at $15,685,000. This trade represents a 37.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jacob Dewitte sold 300,000 shares of the business's stock in a transaction 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 sale, the chief executive officer directly owned 10,105,098 shares of the company's stock, valued at approximately $557,801,409.60. The trade was a 2.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold 600,000 shares of company stock worth $35,066,500 over the last quarter. Insiders own 18.90% of the company's stock.

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.