Olo Inc. (NYSE:OLO) Shares Sold by Deutsche Bank AG

Deutsche Bank AG cut its holdings in shares of Olo Inc. (NYSE:OLO - Free Report) by 47.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,039,653 shares of the company's stock after selling 957,140 shares during the period. Deutsche Bank AG owned 0.64% of OLO worth $7,985,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of OLO. Raymond James Financial Inc. acquired a new stake in shares of OLO during the fourth quarter worth about $2,346,000. Norges Bank acquired a new position in shares of OLO in the fourth quarter valued at approximately $5,181,000. Moloney Securities Asset Management LLC purchased a new stake in shares of OLO during the fourth quarter worth approximately $407,000. JPMorgan Chase & Co. raised its stake in shares of OLO by 220.4% during the third quarter. JPMorgan Chase & Co. now owns 558,507 shares of the company's stock worth $2,770,000 after purchasing an additional 384,196 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of OLO during the fourth quarter worth $890,000. Hedge funds and other institutional investors own 93.40% of the company's stock.

OLO Price Performance

OLO stock traded up $0.06 during mid-day trading on Thursday, reaching $8.91. The company had a trading volume of 146,763 shares, compared to its average volume of 1,247,774. The stock's 50-day simple moving average is $6.86 and its 200-day simple moving average is $7.03. Olo Inc. has a 1 year low of $4.20 and a 1 year high of $9.78. The company has a market capitalization of $1.48 billion, a P/E ratio of -89.03 and a beta of 1.41.

OLO (NYSE:OLO - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.07 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.01. OLO had a positive return on equity of 0.34% and a negative net margin of 5.89%. The company had revenue of $80.68 million for the quarter, compared to the consensus estimate of $77.47 million. During the same period in the previous year, the business earned $0.05 earnings per share. OLO's quarterly revenue was up 21.3% compared to the same quarter last year. On average, equities analysts forecast that Olo Inc. will post -0.03 EPS for the current fiscal year.

Analysts Set New Price Targets

OLO has been the topic of several recent research reports. Lake Street Capital boosted their price objective on shares of OLO from $9.00 to $10.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Wall Street Zen upgraded shares of OLO from a "hold" rating to a "buy" rating in a research report on Thursday.

About OLO

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.