Olo Inc. $OLO Shares Purchased by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. increased its position in Olo Inc. by 2.7% during the 1st quarter, holding approximately 15,090,745 shares valued at $91.1 million.
• Multiple analysts recently downgraded OLO's rating to "hold", with a consensus rating of "Hold" and an average target price of $10.17.
• Olo's most recent quarterly report showed a revenue of $85.72 million, a 21.6% increase year-over-year, but its earnings per share fell short of expectations at $0.07.

Vanguard Group Inc. lifted its position in Olo Inc. (NYSE:OLO - Free Report) by 2.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,090,745 shares of the company's stock after buying an additional 401,364 shares during the period. Vanguard Group Inc. owned approximately 9.09% of OLO worth $91,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. purchased a new position in OLO in the fourth quarter worth about $80,000. Calamos Advisors LLC purchased a new stake in OLO during the first quarter valued at approximately $63,000. SMI Advisory Services LLC purchased a new position in shares of OLO during the 1st quarter worth $62,000. Corton Capital Inc. purchased a new position in shares of OLO during the 1st quarter valued at about $66,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of OLO during the 1st quarter valued at $93,000. Hedge funds and other institutional investors own 93.40% of the company's stock.

Insider Activity at OLO

In related news, CEO Noah H. Glass sold 10,152 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $8.80, for a total value of $89,337.60. Following the completion of the sale, the chief executive officer owned 278,202 shares of the company's stock, valued at approximately $2,448,177.60. The trade was a 3.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Morvillo sold 10,129 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $8.80, for a total transaction of $89,135.20. Following the transaction, the insider directly owned 386,516 shares in the company, valued at approximately $3,401,340.80. The trade was a 2.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 104,630 shares of company stock valued at $925,654 in the last ninety days. 38.41% of the stock is currently owned by company insiders.

OLO Stock Down 0.1%

Shares of NYSE:OLO traded down $0.02 during trading on Wednesday, hitting $10.24. 2,219,290 shares of the stock traded hands, compared to its average volume of 2,409,372. The company has a fifty day moving average price of $9.88 and a two-hundred day moving average price of $8.14. Olo Inc. has a 52-week low of $4.56 and a 52-week high of $10.55. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 146.29 and a beta of 1.58.

OLO (NYSE:OLO - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.01). The firm had revenue of $85.72 million for the quarter, compared to analyst estimates 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 quarter in the prior year, the business posted $0.05 EPS. On average, equities research analysts predict that Olo Inc. will post -0.03 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on OLO. Royal Bank Of Canada reaffirmed 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 boosted their price objective on shares of OLO from $8.00 to $10.25 and gave the company a "neutral" rating in a research report on Monday, July 7th. Wall Street Zen lowered OLO from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Finally, Lake Street Capital cut OLO from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat, OLO currently has a consensus rating of "Hold" and a consensus price target of $10.17.

About OLO

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.