Allspring Global Investments Holdings LLC lifted its stake in shares of Olo Inc. (NYSE:OLO - Free Report) by 173.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 100,286 shares of the company's stock after buying an additional 63,678 shares during the period. Allspring Global Investments Holdings LLC owned about 0.06% of OLO worth $606,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Diversified Trust Co boosted its position in OLO by 12.8% in the first quarter. Diversified Trust Co now owns 33,343 shares of the company's stock worth $201,000 after purchasing an additional 3,793 shares during the last quarter. Asset Management One Co. Ltd. purchased a new position in OLO in the first quarter worth $265,000. SMI Advisory Services LLC purchased a new position in OLO in the first quarter worth $62,000. California State Teachers Retirement System boosted its position in OLO by 2.8% in the fourth quarter. California State Teachers Retirement System now owns 97,847 shares of the company's stock worth $751,000 after purchasing an additional 2,666 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in OLO by 20.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,173 shares of the company's stock worth $1,269,000 after purchasing an additional 27,496 shares during the last quarter. Hedge funds and other institutional investors own 93.40% of the company's stock.
OLO Price Performance
Shares of NYSE OLO traded down $0.02 during trading on Friday, reaching $10.12. 4,047,875 shares of the stock traded hands, compared to its average volume of 1,576,711. Olo Inc. has a 52-week low of $4.53 and a 52-week high of $10.15. The company has a 50-day moving average of $8.89 and a 200-day moving average of $7.54. The stock has a market capitalization of $1.68 billion, a P/E ratio of 506.25 and a beta of 1.57.
OLO (NYSE:OLO - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.01. OLO had a return on equity of 1.46% and a net margin of 1.09%. The firm had revenue of $80.68 million for the quarter, compared to analysts' expectations of $77.47 million. During the same quarter in the prior year, the firm earned $0.05 EPS. The business's revenue for the quarter was up 21.3% compared to the same quarter last year. Analysts expect that Olo Inc. will post -0.03 earnings per share for the current fiscal year.
Insider Activity at OLO
In related news, insider Robert Morvillo sold 10,129 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $8.80, for a total transaction of $89,135.20. Following the sale, the insider directly owned 386,516 shares in the company, valued at approximately $3,401,340.80. The trade was a 2.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Peter J. Benevides sold 23,078 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $8.80, for a total value of $203,086.40. Following the sale, the chief financial officer owned 702,061 shares in the company, valued at approximately $6,178,136.80. The trade was a 3.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 98,630 shares of company stock worth $864,454 in the last 90 days. 39.33% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several research analysts have weighed in on OLO shares. Truist Financial cut OLO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 8th. Lake Street Capital cut OLO from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Royal Bank Of Canada reissued a "sector perform" rating and issued a $10.25 price objective on shares of OLO in a research report on Monday, July 7th. Piper Sandler upped their price target on OLO from $8.00 to $10.25 and gave the company a "neutral" rating in a research report on Monday, July 7th. Finally, Wall Street Zen cut OLO from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, OLO currently has an average rating of "Hold" and an average price target of $10.17.
Get Our Latest Stock Report on OLO
About OLO
(
Free Report)
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.
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