Bank of America Corp DE Sells 344,085 Shares of Olo Inc. (NYSE:OLO)

Bank of America Corp DE decreased its position in Olo Inc. (NYSE:OLO - Free Report) by 32.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 716,753 shares of the company's stock after selling 344,085 shares during the period. Bank of America Corp DE owned about 0.44% of OLO worth $5,505,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Tandem Financial LLC bought a new stake in shares of OLO during the 4th quarter worth approximately $26,000. Global Retirement Partners LLC bought a new stake in shares of OLO during the 4th quarter worth approximately $27,000. SBI Securities Co. Ltd. bought a new stake in shares of OLO during the 4th quarter worth approximately $35,000. Envestnet Asset Management Inc. bought a new stake in shares of OLO during the 4th quarter worth approximately $80,000. Finally, Franklin Resources Inc. bought a new stake in shares of OLO during the 4th quarter worth approximately $81,000. Institutional investors own 93.40% of the company's stock.

OLO Stock Performance

OLO traded down $0.28 during trading hours on Thursday, reaching $8.74. The company's stock had a trading volume of 1,092,910 shares, compared to its average volume of 1,255,688. Olo Inc. has a 52 week low of $4.20 and a 52 week high of $9.78. The company's 50-day moving average is $7.11 and its 200-day moving average is $7.15. The firm has a market cap of $1.45 billion, a PE ratio of -87.34 and a beta of 1.41.

OLO (NYSE:OLO - Get Free Report) last posted its quarterly earnings results 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. OLO had a positive return on equity of 0.34% and a negative net margin of 5.89%. The business 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 business earned $0.05 EPS. The firm's revenue for the quarter was up 21.3% on a year-over-year basis. Equities analysts anticipate that Olo Inc. will post -0.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on OLO shares. Lake Street Capital upped their price objective on OLO from $9.00 to $10.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Wall Street Zen upgraded OLO from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd.

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.