Principal Financial Group Inc. Acquires 102,063 Shares of Olo Inc. (NYSE:OLO)

Principal Financial Group Inc. grew its holdings in shares of Olo Inc. (NYSE:OLO - Free Report) by 104.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 199,874 shares of the company's stock after purchasing an additional 102,063 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of OLO worth $1,207,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OLO. Charles Schwab Investment Management Inc. raised its stake in shares of OLO by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,036,408 shares of the company's stock valued at $7,960,000 after buying an additional 18,474 shares in the last quarter. Raymond James Financial Inc. bought a new stake in OLO during the fourth quarter worth $2,346,000. Amundi lifted its position in shares of OLO by 93.0% during the 4th quarter. Amundi now owns 14,740 shares of the company's stock valued at $112,000 after buying an additional 7,101 shares during the last quarter. Swiss National Bank raised its stake in shares of OLO by 5.0% during the 4th quarter. Swiss National Bank now owns 205,800 shares of the company's stock valued at $1,581,000 after purchasing an additional 9,800 shares during the period. Finally, Thrivent Financial for Lutherans purchased a new stake in shares of OLO in the 4th quarter valued at about $258,000. Hedge funds and other institutional investors own 93.40% of the company's stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, CFO Peter J. Benevides sold 23,078 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 value of $203,086.40. Following the completion of the transaction, the chief financial officer directly 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 Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Morvillo sold 10,129 shares of OLO stock in a transaction that occurred 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 $3,401,340.80. This represents a 2.55% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 98,630 shares of company stock worth $864,454. Company insiders own 39.33% of the company's stock.

OLO Trading Up 0.0%

Shares of NYSE:OLO traded up $0.01 during mid-day trading on Monday, reaching $10.14. The stock had a trading volume of 1,924,367 shares, compared to its average volume of 1,624,647. Olo Inc. has a twelve month low of $4.56 and a twelve month high of $10.16. The firm has a 50 day simple moving average of $9.13 and a two-hundred day simple moving average of $7.62. The firm has a market cap of $1.68 billion, a PE ratio of 507.00 and a beta of 1.57.

OLO (NYSE:OLO - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. OLO had a return on equity of 1.46% and a net margin of 1.09%. The business had revenue of $80.68 million during the quarter, compared to the consensus estimate of $77.47 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. OLO's revenue was up 21.3% compared to the same quarter last year. On average, equities analysts anticipate that Olo Inc. will post -0.03 EPS for the current fiscal year.

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.