Envestnet Asset Management Inc. Buys New Stake in Oklo Inc. $OKLO

Envestnet Asset Management Inc. purchased a new stake in Oklo Inc. (NYSE:OKLO) during the second quarter, HoldingsChannel.com reports. The fund purchased 5,870 shares of the company’s stock, valued at approximately $329,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Oklo by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 4,381,397 shares of the company’s stock valued at $94,770,000 after acquiring an additional 37,718 shares during the last quarter. Compound Planning Inc. boosted its holdings in Oklo by 6.2% in the first quarter. Compound Planning Inc. now owns 964,827 shares of the company’s stock valued at $20,869,000 after purchasing an additional 56,437 shares in the last quarter. Portland Investment Counsel Inc. increased its stake in Oklo by 0.6% in the first quarter. Portland Investment Counsel Inc. now owns 807,580 shares of the company’s stock valued at $17,358,000 after purchasing an additional 5,000 shares during the last quarter. Millennium Management LLC raised its holdings in 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 in the last quarter. Finally, Jump Financial LLC acquired a new stake in Oklo during the first quarter worth approximately $6,929,000. 85.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OKLO has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Oklo in a report on Wednesday, October 8th. Zacks Research raised Oklo from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 19th. Bank of America cut their target price on Oklo from $117.00 to $111.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 12th. Barclays set a $146.00 target price on Oklo in a research report on Monday, September 29th. Finally, The Goldman Sachs Group started coverage on Oklo in a research note on Thursday, September 25th. They set a “neutral” rating and a $117.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $106.29.

Insider Activity

In related news, CEO Jacob Dewitte sold 300,000 shares of the stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $112.26, for a total transaction of $33,678,000.00. Following the completion of the transaction, the chief executive officer directly owned 9,780,098 shares of the company’s stock, valued at $1,097,913,801.48. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Richard Craig Bealmear sold 92,378 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $93.73, for a total transaction of $8,658,589.94. Following the completion of the sale, the chief financial officer owned 75,738 shares of the company’s stock, valued at approximately $7,098,922.74. The trade was a 54.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 503,323 shares of company stock worth $53,914,143 in the last 90 days. Corporate insiders own 18.90% of the company’s stock.

Oklo Trading Up 3.6%

Oklo stock opened at $88.87 on Friday. The stock has a 50 day moving average of $124.06 and a two-hundred day moving average of $84.55. Oklo Inc. has a twelve month low of $17.14 and a twelve month high of $193.84. The stock has a market capitalization of $13.89 billion, a price-to-earnings ratio of -164.58 and a beta of 0.70.

Oklo (NYSE:OKLO) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.07). During the same period last year, the firm posted ($0.08) earnings per share. Equities analysts predict that Oklo Inc. will post -8.2 earnings per share for the current year.

Oklo Company Profile

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.