Sumitomo Mitsui Trust Group Inc. Has $10.26 Million Stock Holdings in Oklo Inc. $OKLO

Sumitomo Mitsui Trust Group Inc. trimmed its position in Oklo Inc. (NYSE:OKLO) by 7.0% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 206,946 shares of the company’s stock after selling 15,564 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Oklo were worth $10,262,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Oklo by 71.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,102,234 shares of the company’s stock valued at $792,822,000 after acquiring an additional 2,968,981 shares during the period. State Street Corp raised its holdings in Oklo by 454.5% during the 2nd quarter. State Street Corp now owns 2,138,658 shares of the company’s stock worth $119,743,000 after purchasing an additional 1,752,946 shares during the last quarter. Norges Bank bought a new stake in Oklo during the 4th quarter worth about $73,786,000. Millennium Management LLC raised its holdings in Oklo by 4,974.1% during the 1st 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 during the last quarter. Finally, Van ECK Associates Corp lifted its position in Oklo by 13.9% during the 4th quarter. Van ECK Associates Corp now owns 3,956,281 shares of the company’s stock valued at $283,902,000 after purchasing an additional 481,288 shares during the period. 85.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on OKLO. Bank of America assumed coverage on shares of Oklo in a research report on Friday, May 22nd. They set a “buy” rating and a $80.00 price target for the company. Craig Hallum reaffirmed a “hold” rating on shares of Oklo in a research note on Wednesday, March 18th. Citigroup lifted their target price on shares of Oklo from $73.50 to $76.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Guggenheim began coverage on shares of Oklo in a research report on Thursday, June 25th. They set a “neutral” rating for the company. Finally, Wedbush reissued an “outperform” rating and issued a $110.00 price target on shares of Oklo in a research note on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.00.

Insider Buying and Selling at Oklo

In other Oklo news, CEO Jacob Dewitte sold 60,000 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $52.80, for a total value of $3,168,000.00. Following the sale, the chief executive officer directly owned 511,533 shares in the company, valued at approximately $27,008,942.40. This trade represents a 10.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Richard Craig Bealmear sold 73,081 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $68.42, for a total transaction of $5,000,202.02. Following the completion of the sale, the chief financial officer owned 397,642 shares in the company, valued at approximately $27,206,665.64. This trade represents a 15.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 683,629 shares of company stock valued at $43,902,208. Corporate insiders own 18.90% of the company’s stock.

Oklo Trading Up 1.1%

Oklo stock opened at $46.31 on Wednesday. The firm has a market capitalization of $8.06 billion, a P/E ratio of -55.13 and a beta of 1.14. The business has a 50-day moving average of $60.11 and a 200-day moving average of $66.16. Oklo Inc. has a 1 year low of $44.88 and a 1 year high of $193.84.

Oklo (NYSE:OKLO) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. During the same quarter last year, the company earned ($0.07) earnings per share. Research analysts anticipate that Oklo Inc. will post -0.73 EPS for the current fiscal year.

Oklo Company 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.