Olo Inc. (NYSE:OLO) Shares Sold by Millennium Management LLC

Millennium Management LLC trimmed its holdings in Olo Inc. (NYSE:OLO - Free Report) by 15.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,144,443 shares of the company's stock after selling 212,961 shares during the quarter. Millennium Management LLC owned approximately 0.70% of OLO worth $8,789,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Driehaus Capital Management LLC bought a new stake in shares of OLO during the fourth quarter worth $9,691,000. Arrowstreet Capital Limited Partnership increased its stake in OLO by 138.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,895,935 shares of the company's stock worth $14,561,000 after buying an additional 1,100,307 shares during the period. Norges Bank bought a new stake in OLO during the 4th quarter valued at about $5,181,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in OLO by 44.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,032,634 shares of the company's stock valued at $15,611,000 after buying an additional 622,106 shares during the period. Finally, Federated Hermes Inc. increased its position in shares of OLO by 6,935.0% during the fourth quarter. Federated Hermes Inc. now owns 556,470 shares of the company's stock worth $4,274,000 after acquiring an additional 548,560 shares during the period. Hedge funds and other institutional investors own 93.40% of the company's stock.

OLO Stock Performance

OLO traded up $0.04 on Friday, hitting $8.77. The company had a trading volume of 124,482 shares, compared to its average volume of 1,251,272. Olo Inc. has a 12-month low of $4.20 and a 12-month high of $9.78. The stock has a fifty day moving average price of $7.16 and a 200-day moving average price of $7.17. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -87.64 and a beta of 1.41.

OLO (NYSE:OLO - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.01. The firm had revenue of $80.68 million for the quarter, compared to analyst estimates of $77.47 million. OLO had a negative net margin of 5.89% and a positive return on equity of 0.34%. The business's quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.05 earnings per share. Analysts forecast that Olo Inc. will post -0.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on OLO shares. Lake Street Capital boosted their price target on OLO from $9.00 to $10.00 and gave the company a "buy" rating in a report on Friday, May 9th. Wall Street Zen lowered OLO from a "buy" rating to a "hold" rating in a research report on Friday.

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.