Asset Management One Co. Ltd. Makes New Investment in Olo Inc. (NYSE:OLO)

Asset Management One Co. Ltd. bought a new position in shares of Olo Inc. (NYSE:OLO - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 43,919 shares of the company's stock, valued at approximately $265,000.

Several other hedge funds also recently bought and sold shares of the stock. Arizona State Retirement System boosted its stake in OLO by 5.1% during the fourth quarter. Arizona State Retirement System now owns 30,358 shares of the company's stock worth $233,000 after buying an additional 1,464 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in OLO by 3.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,482 shares of the company's stock worth $457,000 after buying an additional 1,740 shares during the period. Invesco Ltd. boosted its stake in OLO by 1.9% during the fourth quarter. Invesco Ltd. now owns 121,611 shares of the company's stock worth $934,000 after buying an additional 2,261 shares during the period. California State Teachers Retirement System boosted its stake in OLO by 2.8% during the fourth quarter. California State Teachers Retirement System now owns 97,847 shares of the company's stock worth $751,000 after buying an additional 2,666 shares during the period. Finally, Global Retirement Partners LLC purchased a new position in OLO during the fourth quarter worth about $27,000. Hedge funds and other institutional investors own 93.40% of the company's stock.

Insider Buying and Selling

In related news, COO Joanna G. Lambert sold 38,614 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 $339,803.20. Following the completion of the transaction, the chief operating officer owned 925,146 shares in the company, valued at $8,141,284.80. The trade was a 4.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Noah H. Glass sold 10,152 shares of OLO stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $8.80, for a total transaction of $89,337.60. Following the completion of the transaction, the chief executive officer owned 278,202 shares of the company's stock, valued at $2,448,177.60. This represents a 3.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 98,630 shares of company stock valued at $864,454 over the last ninety days. 39.33% of the stock is currently owned by corporate insiders.

OLO Stock Performance

Shares of OLO stock opened at $8.96 on Tuesday. The stock has a market capitalization of $1.49 billion, a P/E ratio of 448.22 and a beta of 1.57. The company has a 50 day moving average price of $8.28 and a 200 day moving average price of $7.40. Olo Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $9.78.

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

Analysts Set New Price Targets

Several brokerages have weighed in on OLO. Wall Street Zen lowered shares of OLO from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Lake Street Capital lifted their price objective on shares of OLO from $9.00 to $10.00 and gave the company a "buy" rating in a report on Friday, May 9th.

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.

Want to see what other hedge funds are holding OLO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Olo Inc. (NYSE:OLO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.