Palumbo Wealth Management LLC Sells 8,318 Shares of Oklo Inc. $OKLO

Palumbo Wealth Management LLC decreased its position in Oklo Inc. (NYSE:OKLO) by 68.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,892 shares of the company’s stock after selling 8,318 shares during the period. Palumbo Wealth Management LLC’s holdings in Oklo were worth $434,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Royal Bank of Canada raised its position in Oklo by 162.6% during the 1st quarter. Royal Bank of Canada now owns 92,850 shares of the company’s stock valued at $2,009,000 after purchasing an additional 57,497 shares in the last quarter. AQR Capital Management LLC purchased a new position in shares of Oklo during the first quarter valued at $519,000. Millennium Management LLC increased its stake in shares of Oklo by 4,974.1% during 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 during the period. NewEdge Advisors LLC raised its holdings in shares of Oklo by 165.6% in the first quarter. NewEdge Advisors LLC now owns 15,672 shares of the company’s stock valued at $339,000 after acquiring an additional 9,772 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Oklo by 90.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,772 shares of the company’s stock worth $2,439,000 after acquiring an additional 53,703 shares during the period. Institutional investors own 85.03% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Richard Craig Bealmear sold 69,841 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $78.40, for a total transaction of $5,475,534.40. Following the completion of the sale, the chief financial officer owned 202,072 shares in the company, valued at approximately $15,842,444.80. This represents a 25.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jacob Dewitte sold 840,000 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $82.32, for a total value of $69,148,800.00. Following the completion of the sale, the chief executive officer directly owned 1,580,000 shares of the company’s stock, valued at $130,065,600. The trade was a 34.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,750,590 shares of company stock worth $152,068,284. Insiders own 18.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Bank of America raised shares of Oklo from a “neutral” rating to a “buy” rating and raised their target price for the company from $111.00 to $127.00 in a research report on Wednesday, January 21st. Citigroup reiterated a “neutral” rating on shares of Oklo in a research note on Monday, November 24th. William Blair reissued an “outperform” rating on shares of Oklo in a report on Wednesday, November 12th. Wedbush restated an “outperform” rating on shares of Oklo in a report on Friday, January 9th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Oklo in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $98.93.

Oklo Stock Down 0.9%

NYSE OKLO opened at $63.23 on Tuesday. Oklo Inc. has a 52 week low of $17.42 and a 52 week high of $193.84. The company has a 50 day moving average price of $80.58 and a 200 day moving average price of $96.37. The firm has a market cap of $9.88 billion, a PE ratio of -117.09 and a beta of 0.76.

About Oklo

Oklo, Inc is a California-based energy technology company specializing in the design and development of advanced nuclear microreactors. Headquartered in Fremont, the firm focuses on small modular reactor (SMR) technology that leverages fast-neutron fission and liquid-metal cooling to deliver carbon-free power. Oklo’s core objective is to bring compact, factory-built reactors online within a decade, offering a low-footprint alternative to traditional large nuclear plants.

The company’s flagship product, the Aurora microreactor, is a 1.5-megawatt electric (MWe) fast reactor cooled by a sodium alloy.