ARK Investment Management LLC Buys New Shares in Oklo Inc. (NYSE:OKLO)

ARK Investment Management LLC acquired a new position in Oklo Inc. (NYSE:OKLO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 454,294 shares of the company's stock, valued at approximately $9,645,000. ARK Investment Management LLC owned approximately 0.37% of Oklo as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in OKLO. DRW Securities LLC bought a new stake in Oklo in the 3rd quarter worth about $404,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Oklo in the 3rd quarter worth about $135,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Oklo in the third quarter valued at about $104,000. Portland Investment Counsel Inc. purchased a new position in Oklo in the third quarter valued at about $6,493,000. Finally, Atom Investors LP purchased a new position in Oklo in the third quarter valued at about $657,000. 85.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wedbush boosted their target price on shares of Oklo from $26.00 to $45.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. Craig Hallum assumed coverage on shares of Oklo in a research note on Tuesday, January 28th. They issued a "buy" rating and a $44.00 target price on the stock. Citigroup upped their price target on shares of Oklo from $10.00 to $31.00 and gave the company a "neutral" rating in a research note on Wednesday, January 8th. Finally, B. Riley upped their price target on shares of Oklo from $27.00 to $58.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $44.50.

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Insiders Place Their Bets

In other news, Director Richard Kinzley bought 5,000 shares of the stock in a transaction on Monday, December 23rd. The shares were acquired at an average cost of $19.95 per share, for a total transaction of $99,750.00. Following the purchase, the director now directly owns 5,000 shares of the company's stock, valued at $99,750. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jacob Dewitte sold 230,569 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $21.61, for a total transaction of $4,982,596.09. Following the completion of the sale, the chief executive officer now owns 12,543,085 shares in the company, valued at $271,056,066.85. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.80% of the company's stock.

Oklo Stock Performance

Shares of OKLO stock traded up $1.02 during trading on Friday, reaching $33.41. 13,352,738 shares of the company's stock traded hands, compared to its average volume of 20,225,553. Oklo Inc. has a 1 year low of $5.35 and a 1 year high of $59.14. The firm's 50-day moving average is $35.08 and its 200 day moving average is $21.66.

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.