Olo Inc. (NYSE:OLO) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. cut its holdings in shares of Olo Inc. (NYSE:OLO - Free Report) by 14.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 708,944 shares of the company's stock after selling 118,979 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.43% of OLO worth $5,445,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Tandem Financial LLC acquired a new stake in shares of OLO in the fourth quarter valued at approximately $26,000. Global Retirement Partners LLC bought a new position in shares of OLO in the fourth quarter valued at about $27,000. SBI Securities Co. Ltd. bought a new position in shares of OLO in the fourth quarter valued at about $35,000. Envestnet Asset Management Inc. bought a new position in OLO in the 4th quarter valued at about $80,000. Finally, Franklin Resources Inc. acquired a new stake in OLO during the fourth quarter worth approximately $81,000. 93.40% of the stock is owned by institutional investors and hedge funds.

OLO Stock Performance

OLO stock traded up $0.07 during mid-day trading on Thursday, hitting $8.92. 146,763 shares of the company traded hands, compared to its average volume of 1,247,775. Olo Inc. has a one year low of $4.20 and a one year high of $9.78. The stock has a fifty day moving average price of $6.86 and a 200-day moving average price of $7.03. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -89.03 and a beta of 1.41.

OLO (NYSE:OLO - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $77.47 million. During the same quarter in the previous year, the company earned $0.05 earnings per share. OLO's quarterly revenue was up 21.3% on a year-over-year basis. Sell-side analysts predict that Olo Inc. will post -0.03 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on OLO shares. Lake Street Capital boosted their target price on shares of OLO from $9.00 to $10.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Wall Street Zen upgraded OLO from a "hold" rating to a "buy" rating in a research note on Thursday.

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.