Olo Inc. $OLO Shares Bought by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Olo Inc. by 29.7% during Q1, acquiring an additional 36,121 shares, bringing its total holdings to 157,732 shares valued at approximately $953,000.
• Several brokerages have recently revised their ratings on Olo, with Lake Street Capital downgrading the stock to a "hold," while Piper Sandler raised its price target from $8.00 to $10.25, maintaining a "neutral" rating.
• Olo Inc.'s recent earnings report showed a revenue increase of 21.6% year-over-year, with an EPS of $0.07, slightly missing analysts' expectations of $0.08.

Invesco Ltd. lifted its stake in shares of Olo Inc. (NYSE:OLO - Free Report) by 29.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 157,732 shares of the company's stock after purchasing an additional 36,121 shares during the period. Invesco Ltd. owned 0.10% of OLO worth $953,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. SMI Advisory Services LLC acquired a new position in shares of OLO during the 1st quarter worth approximately $62,000. Calamos Advisors LLC acquired a new position in shares of OLO during the 1st quarter worth approximately $63,000. Corton Capital Inc. acquired a new position in OLO in the first quarter valued at approximately $66,000. Envestnet Asset Management Inc. purchased a new position in OLO in the fourth quarter worth approximately $80,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in OLO in the first quarter worth approximately $93,000. 93.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

OLO Trading Down 0.0%

OLO stock traded down $0.01 during midday trading on Friday, reaching $10.26. 9,151,101 shares of the stock traded hands, compared to its average volume of 3,556,821. The company has a 50-day simple moving average of $10.15 and a two-hundred day simple moving average of $8.30. 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 PE ratio of 146.57 and a beta of 1.58.

OLO (NYSE:OLO - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.07 EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $85.72 million for the quarter, compared to analysts' expectations of $82.23 million. During the same quarter last year, the business earned $0.05 earnings per share. The business's revenue was up 21.6% compared to the same quarter last year. Equities research analysts anticipate that Olo Inc. will post -0.03 earnings per share for the current year.

Insider Activity

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