Olo Inc. $OLO Shares Sold by Algert Global LLC

Key Points

• Algert Global LLC has reduced its stake in Olo Inc. by 9.2%, selling 71,924 shares and now holds approximately 0.43% of the company.
• Despite the reduction from Algert Global, other institutional investors like Vanguard Group and Nuveen LLC have increased their holdings, with Vanguard now owning over 15 million shares.
• Olo Inc. reported a loss of $0.01 per share against an expectation of $0.08, although its revenue rose by 21.6% year-over-year to $85.72 million.

Algert Global LLC lessened its stake in shares of Olo Inc. (NYSE:OLO - Free Report) by 9.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 706,384 shares of the company's stock after selling 71,924 shares during the quarter. Algert Global LLC owned approximately 0.43% of OLO worth $4,267,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of OLO. Nuveen LLC bought a new stake in OLO during the 1st quarter valued at $15,330,000. Driehaus Capital Management LLC bought a new stake in OLO during the 4th quarter valued at $9,691,000. Bank of New York Mellon Corp boosted its position in OLO by 274.6% during the 1st quarter. Bank of New York Mellon Corp now owns 1,351,488 shares of the company's stock valued at $8,163,000 after acquiring an additional 990,719 shares in the last quarter. Two Sigma Advisers LP boosted its position in OLO by 85.6% during the 4th quarter. Two Sigma Advisers LP now owns 1,655,500 shares of the company's stock valued at $12,714,000 after acquiring an additional 763,400 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its position in OLO by 48.5% during the 4th quarter. Nuveen Asset Management LLC now owns 2,321,232 shares of the company's stock valued at $17,827,000 after acquiring an additional 757,617 shares in the last quarter. Institutional investors own 93.40% of the company's stock.

Analyst Upgrades and Downgrades

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

OLO Trading Up 0.2%

Shares of OLO traded up $0.02 during midday trading on Monday, hitting $10.25. 1,997,222 shares of the company's stock traded hands, compared to its average volume of 5,294,034. Olo Inc. has a 1 year low of $4.56 and a 1 year high of $10.55. The firm's fifty day moving average is $9.84 and its 200-day moving average is $8.12. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 28.47 and a beta of 1.58.

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

Insider Buying and Selling

In related news, CFO Peter J. Benevides sold 23,078 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $8.80, for a total value of $203,086.40. Following the completion of the transaction, the chief financial officer owned 702,061 shares in the company, valued at $6,178,136.80. This trade represents a 3.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert Morvillo sold 10,129 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $8.80, for a total value of $89,135.20. Following the completion of the transaction, the insider owned 386,516 shares of the company's stock, valued at $3,401,340.80. This trade represents a 2.55% 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 three months. Corporate 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.