Insider Selling: Oklo Inc. (NYSE:OKLO) CEO Sells 300,000 Shares of Stock

Oklo Inc. (NYSE:OKLO - Get Free Report) CEO Jacob Dewitte sold 300,000 shares of Oklo stock in a transaction dated Monday, June 30th. The stock was 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 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 transaction was disclosed in a document filed with the SEC, which is available at this link.

Oklo Stock Performance

Shares of NYSE OKLO traded up $2.16 during trading hours on Friday, hitting $53.49. The company's stock had a trading volume of 8,869,152 shares, compared to its average volume of 14,529,515. The business has a 50-day simple moving average of $46.24 and a 200-day simple moving average of $35.68. The stock has a market cap of $7.46 billion, a price-to-earnings ratio of -9.89 and a beta of 0.57. Oklo Inc. has a 12 month low of $5.35 and a 12 month high of $73.55.

Oklo (NYSE:OKLO - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.04. On average, equities research analysts forecast that Oklo Inc. will post -8.2 EPS for the current year.

Institutional Trading of Oklo

Several large investors have recently bought and sold shares of the company. Barclays PLC boosted its position in Oklo by 5.7% during the 4th quarter. Barclays PLC now owns 7,666 shares of the company's stock valued at $163,000 after acquiring an additional 416 shares in the last quarter. Signaturefd LLC boosted its position in shares of Oklo by 5.4% in the 1st quarter. Signaturefd LLC now owns 8,962 shares of the company's stock worth $194,000 after purchasing an additional 462 shares in the last quarter. Spire Wealth Management boosted its position in shares of Oklo by 14.1% in the 1st quarter. Spire Wealth Management now owns 3,896 shares of the company's stock worth $84,000 after purchasing an additional 481 shares in the last quarter. Intrua Financial LLC boosted its position in shares of Oklo by 4.2% in the 1st quarter. Intrua Financial LLC now owns 13,375 shares of the company's stock worth $289,000 after purchasing an additional 535 shares in the last quarter. Finally, Ancora Advisors LLC boosted its position in shares of Oklo by 18.2% in the 4th quarter. Ancora Advisors LLC now owns 4,610 shares of the company's stock worth $98,000 after purchasing an additional 710 shares in the last quarter. 85.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Craig Hallum downgraded Oklo from a "buy" rating to a "hold" rating and set a $59.00 price objective on the stock. in a report on Monday, June 23rd. Citigroup reissued a "neutral" rating on shares of Oklo in a research note on Wednesday, May 14th. William Blair started coverage on Oklo in a research note on Wednesday, May 28th. They issued an "outperform" rating on the stock. CLSA raised Oklo from an "outperform" rating to a "moderate buy" rating and raised their target price for the stock from $50.00 to $74.00 in a research note on Tuesday, May 27th. Finally, Wedbush set a $75.00 target price on Oklo and gave the stock an "outperform" rating in a research note on Thursday, June 12th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $58.50.

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.