Allspring Global Investments Holdings LLC Has $606,000 Holdings in Olo Inc. (NYSE:OLO)

Allspring Global Investments Holdings LLC increased its position in Olo Inc. (NYSE:OLO - Free Report) by 173.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,286 shares of the company's stock after buying an additional 63,678 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.06% of OLO worth $606,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. SBI Securities Co. Ltd. acquired a new stake in OLO during the 4th quarter worth about $35,000. SMI Advisory Services LLC acquired a new position in shares of OLO during the 1st quarter valued at about $62,000. Envestnet Asset Management Inc. bought a new position in OLO in the 4th quarter worth $80,000. Franklin Resources Inc. acquired a new stake in OLO in the 4th quarter valued at approximately $81,000. Finally, TFJ Management LLC bought a new stake in OLO in the 4th quarter valued at $107,000. Institutional investors and hedge funds own 93.40% of the company's stock.

Insider Buying and Selling at OLO

In other news, CEO Noah H. Glass sold 10,152 shares of OLO stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $8.80, for a total value of $89,337.60. Following the completion of the sale, the chief executive officer directly owned 278,202 shares in the company, valued at approximately $2,448,177.60. The trade was a 3.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Morvillo sold 10,129 shares of OLO stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $8.80, for a total value of $89,135.20. Following the completion of the transaction, the insider directly owned 386,516 shares of the company's stock, valued at $3,401,340.80. This represents a 2.55% 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. Company insiders own 39.33% of the company's stock.

OLO Stock Performance

OLO traded down $0.02 during trading on Friday, reaching $10.12. 4,047,875 shares of the stock were exchanged, compared to its average volume of 1,573,937. The stock's 50 day moving average price is $8.89 and its two-hundred day moving average price is $7.54. Olo Inc. has a twelve month low of $4.45 and a twelve month high of $10.15. The stock has a market cap of $1.68 billion, a P/E ratio of 506.25 and a beta of 1.57.

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 analysts' consensus estimates of $0.06 by $0.01. The company had revenue of $80.68 million during the quarter, compared to analysts' expectations of $77.47 million. OLO had a return on equity of 1.46% and a net margin of 1.09%. The business's revenue was up 21.3% on a year-over-year basis. During the same period last year, the firm posted $0.05 earnings per share. Equities research analysts predict that Olo Inc. will post -0.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Royal Bank Of Canada reissued a "sector perform" rating and set a $10.25 price objective on shares of OLO in a report on Monday. Truist Financial lowered shares of OLO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Lake Street Capital lowered shares of OLO from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. Wall Street Zen lowered shares of OLO from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, Piper Sandler raised their target price on shares of OLO from $8.00 to $10.25 and gave the stock a "neutral" rating in a report on Monday. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $10.17.

OLO Company 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.