Oklo (NYSE:OKLO) CEO Jacob Dewitte Sells 300,000 Shares

Key Points

• Oklo CEO Jacob Dewitte sold 300,000 shares at an average price of $112.26, resulting in a total transaction value of $33.68 million and a 2.98% decrease in his holdings.
• After the sale, Dewitte still owns approximately 9.78 million shares, valued at around $1.1 billion.
• Oklo Inc. recently reported a loss of ($0.18) earnings per share, missing expectations, while its stock has seen significant trading activity with a current market cap of $19.04 billion.

Oklo Inc. (NYSE:OKLO - Get Free Report) CEO Jacob Dewitte sold 300,000 shares of the stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $112.26, for a total value of $33,678,000.00. Following the transaction, the chief executive officer owned 9,780,098 shares of the company's stock, valued at approximately $1,097,913,801.48. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Oklo Price Performance

OKLO stock traded up $13.06 during trading hours on Thursday, reaching $128.99. 28,259,201 shares of the stock were exchanged, compared to its average volume of 18,507,518. The firm's 50-day moving average is $85.05 and its 200-day moving average is $55.96. The company has a market cap of $19.04 billion, a price-to-earnings ratio of -307.11 and a beta of 0.68. Oklo Inc. has a 12 month low of $9.01 and a 12 month high of $144.49.

Oklo (NYSE:OKLO - Get Free Report) last released its earnings results on Monday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). As a group, equities research analysts forecast that Oklo Inc. will post -8.2 earnings per share for the current year.

Institutional Investors Weigh In On Oklo

Several hedge funds have recently bought and sold shares of the stock. State Street Corp raised its position in shares of Oklo by 454.5% in the second quarter. State Street Corp now owns 2,138,658 shares of the company's stock valued at $119,743,000 after buying an additional 1,752,946 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Oklo by 195.9% in the second quarter. Geode Capital Management LLC now owns 2,248,425 shares of the company's stock valued at $125,906,000 after buying an additional 1,488,482 shares in the last quarter. Hood River Capital Management LLC acquired a new stake in shares of Oklo in the second quarter valued at approximately $40,919,000. Millennium Management LLC raised its position in shares of Oklo by 4,974.1% in the first quarter. Millennium Management LLC now owns 582,002 shares of the company's stock valued at $12,589,000 after buying an additional 570,532 shares in the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new stake in shares of Oklo in the first quarter valued at approximately $11,674,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on OKLO shares. William Blair restated an "outperform" rating on shares of Oklo in a report on Tuesday, August 12th. Craig Hallum cut Oklo from a "buy" rating to a "hold" rating and set a $59.00 price objective for the company. in a report on Monday, June 23rd. The Goldman Sachs Group started coverage on Oklo in a report on Thursday, September 25th. They issued a "neutral" rating and a $117.00 price objective for the company. HC Wainwright raised their price objective on Oklo from $55.00 to $90.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. Finally, Bank of America restated a "neutral" rating and issued a $117.00 price objective (up previously from $92.00) on shares of Oklo in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $83.77.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.