Deutsche Bank AG Raises Stake in Olo Inc. $OLO

Key Points

• Deutsche Bank AG increased its holdings in Olo Inc. by 22.4%, amounting to a total of $7.69 million and representing 0.77% of the company's stock.
• Several institutional investors, including LPL Financial LLC and JPMorgan Chase & Co., significantly raised their positions in Olo during the last quarter, reflecting growing confidence in the company.
• Olo's stock has a current average target price set at $10.17 among analysts, with recent reports indicating a shift from "buy" to "hold" ratings by multiple firms.

Deutsche Bank AG lifted its stake in shares of Olo Inc. (NYSE:OLO - Free Report) by 22.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,272,600 shares of the company's stock after buying an additional 232,947 shares during the quarter. Deutsche Bank AG owned about 0.77% of OLO worth $7,687,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of OLO. SMI Advisory Services LLC acquired a new stake in OLO in the 1st quarter valued at $62,000. Calamos Advisors LLC acquired a new stake in OLO in the 1st quarter valued at $63,000. Corton Capital Inc. acquired a new stake in OLO in the 1st quarter valued at $66,000. Envestnet Asset Management Inc. acquired a new stake in OLO in the 4th quarter valued at $80,000. Finally, Franklin Resources Inc. acquired a new stake in OLO in the 4th quarter valued at $81,000. Institutional investors and hedge funds own 93.40% of the company's stock.

Analyst Upgrades and Downgrades

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

OLO Stock Up 0.2%

OLO stock traded up $0.0250 during midday trading on Tuesday, reaching $10.2250. The stock had a trading volume of 4,909,673 shares, compared to its average volume of 2,409,070. The firm has a market capitalization of $1.73 billion, a PE ratio of 145.86 and a beta of 1.58. Olo Inc. has a 12 month low of $4.56 and a 12 month high of $10.55. The firm's 50-day moving average price is $9.68 and its 200 day moving average price is $8.02.

OLO (NYSE:OLO - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.01). The company had revenue of $85.72 million for the quarter, compared to analysts' expectations of $82.23 million. OLO had a negative net margin of 0.28% and a positive return on equity of 2.13%. The firm's quarterly revenue was up 21.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.05 EPS. Equities research analysts expect that Olo Inc. will post -0.03 EPS for the current year.

Insider Buying and Selling at OLO

In other news, CFO Peter J. Benevides sold 23,078 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $6,178,136.80. The trade was a 3.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Zuhairah Scott Washington sold 10,000 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $8.48, for a total value of $84,800.00. Following the completion of the sale, the director directly owned 68,677 shares of the company's stock, valued at approximately $582,380.96. This represents a 12.71% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,630 shares of company stock worth $925,654. 38.41% of the stock is owned by corporate insiders.

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.