Investment analysts have recently updated their ratings for Oklo Inc. (NYSE: OKLO), a company specializing in the design and development of fission power plants. These updates come as the firm reports significant insider trading activity, raising questions about its current market position.
Insider Trading Activity
On September 22, 2023, Director Michael Stuart Klein sold 50,000 shares of Oklo’s stock at an average price of $133.76. This transaction amounted to approximately $6,688,000. Following the sale, Klein’s direct ownership dropped to 150,000 shares, valued at around $20,064,000, reflecting a 25% decrease in his holdings. The details of this transaction were disclosed in a filing with the U.S. Securities and Exchange Commission (SEC).
A few days later, on September 30, 2023, CEO Jacob Dewitte sold 300,000 shares at an average price of $112.26, totaling approximately $33,678,000. Post-sale, Dewitte retained ownership of 9,780,098 shares, which are worth about $1,097,913,801.48. This transaction represented a 2.98% decrease in his ownership stake. The SEC filing for this sale is accessible to the public.
In the last three months alone, insiders have sold a total of 509,187 shares, valued at $54,432,638. Currently, insiders hold 18.90% of the company’s stock, indicating a notable level of insider activity.
Company Overview
Founded in 2013 and based in Santa Clara, California, Oklo Inc. focuses on providing reliable, commercial-scale energy solutions through its innovative fission power plants. In addition, the company offers recycling services for used nuclear fuel, positioning itself as a key player in the energy sector.
As analysts continue to assess Oklo’s market trajectory, the recent insider sales may influence investor perceptions and future stock performance. For those interested in staying updated, a daily summary of news and ratings for Oklo Inc. and similar companies is available through MarketBeat’s free email newsletter.
