Olo Inc. $OLO Shares Acquired by American Century Companies Inc.

American Century Companies Inc. lifted its stake in shares of Olo Inc. (NYSE:OLO - Free Report) by 20.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 240,860 shares of the company's stock after acquiring an additional 40,106 shares during the quarter. American Century Companies Inc. owned 0.15% of OLO worth $1,455,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Russell Investments Group Ltd. increased its position in shares of OLO by 1,144.5% during the first quarter. Russell Investments Group Ltd. now owns 278,722 shares of the company's stock worth $1,684,000 after acquiring an additional 256,326 shares during the period. Nuveen LLC purchased a new stake in shares of OLO during the first quarter worth $15,330,000. Invesco Ltd. increased its position in shares of OLO by 29.7% during the first quarter. Invesco Ltd. now owns 157,732 shares of the company's stock worth $953,000 after acquiring an additional 36,121 shares during the period. CenterBook Partners LP increased its position in shares of OLO by 105.8% during the first quarter. CenterBook Partners LP now owns 82,868 shares of the company's stock worth $501,000 after acquiring an additional 42,608 shares during the period. Finally, Deutsche Bank AG increased its position in shares of OLO by 22.4% during the first quarter. Deutsche Bank AG now owns 1,272,600 shares of the company's stock worth $7,687,000 after acquiring an additional 232,947 shares during the period. Hedge funds and other institutional investors own 93.40% of the company's stock.

Insider Buying and Selling at OLO

In other OLO news, Director Daniel Harris Meyer sold 6,000 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $10.20, for a total value of $61,200.00. Following the completion of the transaction, the director owned 125,324 shares in the company, valued at $1,278,304.80. This represents a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Zuhairah Scott Washington sold 10,000 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $8.48, for a total transaction of $84,800.00. Following the completion of the transaction, the director owned 68,677 shares of the company's stock, valued at $582,380.96. This represents a 12.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,000 shares of company stock valued at $154,510 in the last 90 days. 38.41% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on OLO. Lake Street Capital downgraded shares of OLO from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Royal Bank Of Canada reiterated a "sector perform" rating and set a $10.25 target price on shares of OLO in a research note on Monday, July 7th. Piper Sandler boosted their target price on shares of OLO from $8.00 to $10.25 and gave the stock a "neutral" rating in a research note on Monday, July 7th. Truist Financial downgraded shares of OLO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 8th. Finally, Wall Street Zen downgraded shares of OLO from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, OLO currently has a consensus rating of "Hold" and an average target price of $10.17.

OLO Stock Performance

NYSE OLO traded down $0.01 during trading hours on Friday, hitting $10.26. The company had a trading volume of 9,151,101 shares, compared to its average volume of 3,556,821. Olo Inc. has a 1-year low of $4.56 and a 1-year high of $10.55. The company has a market cap of $1.74 billion, a PE ratio of 146.57 and a beta of 1.58. The business has a 50 day moving average of $10.15 and a 200-day moving average of $8.30.

OLO (NYSE:OLO - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). OLO had a negative net margin of 0.28% and a positive return on equity of 2.13%. The company had revenue of $85.72 million during the quarter, compared to analyst estimates of $82.23 million. During the same quarter in the prior year, the company earned $0.05 EPS. The business's revenue was up 21.6% on a year-over-year basis. Sell-side analysts expect that Olo Inc. will post -0.03 earnings per share for the current fiscal year.

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.