Allstate Corp Takes $604,000 Position in Oklo Inc. $OKLO

Allstate Corp purchased a new stake in shares of Oklo Inc. (NYSE:OKLO) during the 4th quarter, Holdings Channel.com reports. The fund purchased 8,421 shares of the company’s stock, valued at approximately $604,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caprock Group LLC bought a new position in shares of Oklo during the 3rd quarter valued at $14,829,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Oklo by 48.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 164,860 shares of the company’s stock valued at $18,403,000 after buying an additional 54,080 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Oklo by 298.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 23,396 shares of the company’s stock valued at $2,612,000 after buying an additional 17,526 shares during the period. DNB Asset Management AS lifted its holdings in shares of Oklo by 151.7% during the 4th quarter. DNB Asset Management AS now owns 28,625 shares of the company’s stock valued at $2,054,000 after buying an additional 17,253 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Oklo during the 3rd quarter valued at $2,177,000. 85.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. HSBC assumed coverage on Oklo in a research note on Thursday, April 23rd. They issued a “buy” rating and a $96.00 price objective for the company. The Goldman Sachs Group reduced their price objective on Oklo from $91.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday, March 18th. Zacks Research upgraded Oklo from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 19th. Royal Bank Of Canada set a $80.00 price objective on Oklo in a research note on Friday, May 22nd. Finally, Wolfe Research assumed coverage on Oklo in a research note on Tuesday, May 19th. They issued a “peer perform” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Oklo currently has an average rating of “Moderate Buy” and an average price target of $83.06.

Oklo Stock Performance

Shares of OKLO stock opened at $66.91 on Friday. Oklo Inc. has a 52-week low of $44.88 and a 52-week high of $193.84. The firm has a market capitalization of $11.64 billion, a PE ratio of -79.66 and a beta of 1.16. The stock has a fifty day simple moving average of $61.80 and a two-hundred day simple moving average of $74.78.

Oklo (NYSE:OKLO) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. During the same period in the previous year, the business posted ($0.07) earnings per share. On average, sell-side analysts forecast that Oklo Inc. will post -0.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other Oklo news, CEO Jacob Dewitte sold 140,000 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $70.50, for a total value of $9,870,000.00. Following the completion of the sale, the chief executive officer owned 598,039 shares in the company, valued at approximately $42,161,749.50. This represents a 18.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider William Carroll Murphy Goodwin sold 10,548 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $58.04, for a total value of $612,205.92. Following the transaction, the insider owned 36,175 shares of the company’s stock, valued at approximately $2,099,597. The trade was a 22.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 819,588 shares of company stock worth $49,774,300. Corporate insiders own 18.90% of the company’s stock.

Oklo Profile

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.