Next Century Growth Investors LLC Acquires Shares of 354,256 Olo Inc. $OLO

Key Points

• Next Century Growth Investors LLC has acquired 354,256 shares of Olo Inc., valued at approximately $2,140,000, representing about 0.21% of the company's stock.
• Olo Inc. reported a quarterly revenue of $85.72 million, exceeding analysts' expectations, despite missing EPS estimates with $0.07 compared to the consensus $0.08.
• Institutional investors hold a significant stake in Olo Inc., with approximately 93.40% of its stock owned by hedge funds and other institutional investors.

Next Century Growth Investors LLC purchased a new position in shares of Olo Inc. (NYSE:OLO - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 354,256 shares of the company's stock, valued at approximately $2,140,000. Next Century Growth Investors LLC owned about 0.21% of OLO as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of OLO. SMI Advisory Services LLC acquired a new position in shares of OLO during the 1st quarter worth $62,000. Calamos Advisors LLC acquired a new position in shares of OLO during the 1st quarter worth $63,000. Corton Capital Inc. acquired a new position in shares of OLO during the 1st quarter worth $66,000. Envestnet Asset Management Inc. acquired a new position in shares of OLO during the 4th quarter worth $80,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of OLO during the 1st quarter worth $93,000. Institutional investors and hedge funds own 93.40% of the company's stock.

OLO Stock Performance

NYSE:OLO opened at $10.24 on Thursday. The company has a 50-day moving average of $9.91 and a 200-day moving average of $8.15. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 146.43 and a beta of 1.58. Olo Inc. has a 52 week low of $4.56 and a 52 week high of $10.55.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on OLO shares. Piper Sandler upped 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. Truist Financial downgraded shares of OLO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 8th. Lake Street Capital downgraded shares of OLO from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. Wall Street Zen downgraded shares of OLO from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $10.25 price target on shares of OLO in a report on Monday, July 7th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, OLO presently has a consensus rating of "Hold" and an average price target of $10.17.

Insider Buying and Selling at OLO

In related news, insider Sherri Manning sold 5,657 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 $49,781.60. Following the completion of the sale, the insider owned 297,926 shares in the company, valued at $2,621,748.80. This trade represents a 1.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Zuhairah Scott Washington sold 10,000 shares of the 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 of the company's stock, valued at $582,380.96. This trade represents a 12.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,630 shares of company stock worth $925,654 over the last ninety days. Company insiders own 38.41% of the company's stock.

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.

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