Charles Schwab Investment Management Inc. Sells 135,031 Shares of Olo Inc. $OLO

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Olo Inc. by 13.0%, selling 135,031 shares to hold 901,377 shares worth about $5.44 million.
• Several institutional investors have adjusted their positions, notably Vanguard Group, which increased its holdings by 2.7%, now owning 15,090,745 shares valued at $91.15 million.
• Olo Inc. reported $85.72 million in revenue for the last quarter, exceeding expectations, although it missed EPS estimates with $0.07 compared to a consensus of $0.08.

Charles Schwab Investment Management Inc. decreased its holdings in shares of Olo Inc. (NYSE:OLO - Free Report) by 13.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 901,377 shares of the company's stock after selling 135,031 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.54% of OLO worth $5,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of OLO. Wells Fargo & Company MN raised its holdings in OLO by 112.9% during the 4th quarter. Wells Fargo & Company MN now owns 102,655 shares of the company's stock valued at $788,000 after acquiring an additional 54,427 shares during the period. Envestnet Asset Management Inc. bought a new position in shares of OLO in the fourth quarter worth $80,000. Invesco Ltd. increased its holdings in shares of OLO by 1.9% in the fourth quarter. Invesco Ltd. now owns 121,611 shares of the company's stock worth $934,000 after purchasing an additional 2,261 shares during the period. Raymond James Financial Inc. bought a new position in shares of OLO in the fourth quarter worth $2,346,000. Finally, Barclays PLC increased its holdings in shares of OLO by 12.8% in the fourth quarter. Barclays PLC now owns 214,757 shares of the company's stock worth $1,649,000 after purchasing an additional 24,422 shares during the period. Institutional investors own 93.40% of the company's stock.

OLO Price Performance

NYSE OLO traded up $0.02 during trading on Monday, hitting $10.25. 2,042,322 shares of the company's stock traded hands, compared to its average volume of 3,883,693. The stock has a fifty day moving average of $9.98 and a two-hundred day moving average of $8.21. Olo Inc. has a 12-month low of $4.56 and a 12-month high of $10.55. The firm has a market cap of $1.74 billion, a P/E ratio of 146.14 and a beta of 1.58.

OLO (NYSE:OLO - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $85.72 million for the quarter, compared to analysts' expectations of $82.23 million. During the same quarter in the previous year, the company earned $0.05 earnings per share. The business's quarterly revenue was up 21.6% on a year-over-year basis. As a group, analysts expect that Olo Inc. will post -0.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

OLO has been the topic of several research analyst reports. Lake Street Capital cut shares of OLO from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. Piper Sandler upped their target price on shares of OLO from $8.00 to $10.25 and gave the stock a "neutral" rating in a research report on Monday, July 7th. Truist Financial lowered shares of OLO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 8th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $10.25 target price on shares of OLO in a research report on Monday, July 7th. Finally, Wall Street Zen lowered shares of OLO from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, OLO has an average rating of "Hold" and an average price target of $10.17.

Insider Buying and Selling at OLO

In other news, CFO Peter J. Benevides sold 23,078 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $8.80, for a total transaction of $203,086.40. Following the completion of the sale, the chief financial officer directly owned 702,061 shares in the company, valued at approximately $6,178,136.80. This represents a 3.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert Morvillo sold 10,129 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $8.80, for a total transaction of $89,135.20. Following the sale, the insider owned 386,516 shares of the company's stock, valued at approximately $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. Over the last quarter, insiders sold 104,630 shares of company stock valued at $925,654. 38.41% of the stock is currently owned by insiders.

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.