Allspring Global Investments Holdings LLC Purchases 63,678 Shares of Olo Inc. (NYSE:OLO)

Allspring Global Investments Holdings LLC boosted its holdings in Olo Inc. (NYSE:OLO - Free Report) by 173.9% during the first quarter, according to the company in its most recent filing with the Securities and 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 0.06% of OLO worth $606,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in OLO. Vanguard Group Inc. lifted its stake in shares of OLO by 2.9% in the 4th 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 in the last quarter. Dimensional Fund Advisors LP lifted its stake 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 purchasing an additional 206,538 shares in the last quarter. Geode Capital Management LLC lifted its stake 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 purchasing an additional 21,484 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in shares of OLO by 48.5% in the 4th quarter. Nuveen Asset Management LLC now owns 2,321,232 shares of the company's stock valued at $17,827,000 after purchasing an additional 757,617 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position 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. 93.40% of the stock is owned by institutional investors and hedge funds.

OLO Trading Down 0.0%

OLO traded down $0.01 during trading on Friday, reaching $10.14. 1,171,075 shares of the company were exchanged, compared to its average volume of 1,561,514. The stock has a market cap of $1.68 billion, a P/E ratio of 507.00 and a beta of 1.57. The firm has a 50 day moving average of $8.84 and a 200 day moving average of $7.52. Olo Inc. has a 52 week low of $4.32 and a 52 week high of $10.15.

OLO (NYSE:OLO - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.07 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.01. The firm had revenue of $80.68 million during the quarter, compared to the consensus estimate of $77.47 million. OLO had a return on equity of 1.46% and a net margin of 1.09%. The firm's revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 EPS. As a group, analysts forecast that Olo Inc. will post -0.03 earnings per share for the current fiscal year.

Insider Activity at OLO

In other OLO news, CFO Peter J. Benevides sold 23,078 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 $203,086.40. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Joanna G. Lambert sold 38,614 shares of the company'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 $339,803.20. Following the completion of the sale, the chief operating officer owned 925,146 shares of the company's stock, valued at approximately $8,141,284.80. This trade represents a 4.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 98,630 shares of company stock worth $864,454 in the last ninety days. 39.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

OLO has been the topic of several recent research reports. Truist Financial lowered OLO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Lake Street Capital downgraded OLO from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. Royal Bank Of Canada restated a "sector perform" rating and set a $10.25 price objective on shares of OLO in a report on Monday. Piper Sandler boosted their price target on OLO from $8.00 to $10.25 and gave the company a "neutral" rating in a report on Monday. Finally, Wall Street Zen downgraded OLO from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $10.17.

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.