BNP Paribas Financial Markets Invests $3.32 Million in Olo Inc. (NYSE:OLO)

BNP Paribas Financial Markets purchased a new stake in Olo Inc. (NYSE:OLO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 432,241 shares of the company's stock, valued at approximately $3,320,000. BNP Paribas Financial Markets owned 0.26% of OLO as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in OLO by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 14,689,381 shares of the company's stock valued at $112,814,000 after purchasing an additional 415,868 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of OLO by 6.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,491,755 shares of the company's stock valued at $26,817,000 after buying an additional 206,538 shares during the period. Geode Capital Management LLC raised its holdings in shares of OLO by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 2,466,289 shares of the company's stock valued at $18,945,000 after buying an additional 21,484 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in OLO by 44.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,032,634 shares of the company's stock worth $15,611,000 after acquiring an additional 622,106 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in OLO by 138.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,895,935 shares of the company's stock valued at $14,561,000 after acquiring an additional 1,100,307 shares during the period. Hedge funds and other institutional investors own 93.40% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Lake Street Capital boosted their price target on shares of OLO from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. StockNews.com downgraded shares of OLO from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th.

OLO Price Performance

Shares of NYSE:OLO traded down $0.19 during trading on Monday, hitting $8.97. 1,625,621 shares of the company were exchanged, compared to its average volume of 1,246,870. The firm's 50 day moving average price is $6.69 and its 200-day moving average price is $6.98. Olo Inc. has a 12-month low of $4.20 and a 12-month high of $9.78. The stock has a market capitalization of $1.49 billion, a P/E ratio of -89.69 and a beta of 1.41.

OLO (NYSE:OLO - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. OLO had a negative net margin of 5.89% and a positive return on equity of 0.34%. The company had revenue of $80.68 million during the quarter, compared to the consensus estimate of $77.47 million. During the same quarter in the prior year, the firm posted $0.05 earnings per share. OLO's revenue for the quarter was up 21.3% on a year-over-year basis. As a group, equities research analysts anticipate that Olo Inc. will post -0.03 EPS for the current year.

OLO Profile

Olo, Inc engages in the provision of a cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded by Noah H. Glass on June 1, 2005 and is headquartered in New York, NY.