Trexquant Investment LP Lowers Position in Olo Inc. $OLO

Key Points

• Trexquant Investment LP has reduced its stake in Olo Inc. by 39.3%, now owning approximately 0.18% of the company valued at $1.78 million after selling 190,798 shares.
• Several large investors, including Envestnet Asset Management and Calamos Advisors, have also taken new positions in Olo, indicating increasing interest from institutional investors.
• Olo reported $0.07 earnings per share in its latest quarterly results, missing analysts' estimates of $0.08, but achieved a revenue report of $85.72 million, exceeding expectations.

Trexquant Investment LP reduced its position in Olo Inc. (NYSE:OLO - Free Report) by 39.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 294,883 shares of the company's stock after selling 190,798 shares during the quarter. Trexquant Investment LP owned 0.18% of OLO worth $1,781,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in OLO. Vanguard Group Inc. raised its holdings in OLO by 2.7% in the first quarter. Vanguard Group Inc. now owns 15,090,745 shares of the company's stock worth $91,148,000 after purchasing an additional 401,364 shares in the last quarter. Nuveen LLC bought a new position in OLO in the first quarter worth about $15,330,000. Nuveen Asset Management LLC raised its holdings in OLO by 48.5% in the fourth quarter. Nuveen Asset Management LLC now owns 2,321,232 shares of the company's stock worth $17,827,000 after purchasing an additional 757,617 shares in the last quarter. Two Sigma Advisers LP raised its holdings in OLO by 85.6% in the fourth quarter. Two Sigma Advisers LP now owns 1,655,500 shares of the company's stock worth $12,714,000 after purchasing an additional 763,400 shares in the last quarter. Finally, Two Sigma Investments LP raised its holdings in OLO by 19.9% in the fourth quarter. Two Sigma Investments LP now owns 1,415,043 shares of the company's stock worth $10,868,000 after purchasing an additional 234,797 shares in the last quarter. 93.40% of the stock is currently owned by institutional investors.

OLO Price Performance

NYSE:OLO traded up $0.01 during midday trading on Wednesday, hitting $10.27. The company's stock had a trading volume of 14,714,042 shares, compared to its average volume of 3,565,625. Olo Inc. has a fifty-two week low of $4.56 and a fifty-two week high of $10.55. The firm's 50 day moving average is $10.23 and its 200-day moving average is $8.36. The firm has a market cap of $1.74 billion, a P/E ratio of 28.51 and a beta of 1.58.

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

Insider Buying and Selling

In related news, COO Joanna G. Lambert sold 38,275 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $10.25, for a total value of $392,318.75. Following the transaction, the chief operating officer owned 886,871 shares in the company, valued at approximately $9,090,427.75. This represents a 4.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Noah H. Glass sold 11,735 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $10.25, for a total transaction of $120,283.75. Following the completion of the transaction, the chief executive officer owned 266,467 shares in the company, valued at approximately $2,731,286.75. This trade represents a 4.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 112,623 shares of company stock worth $1,134,646 in the last quarter. 38.41% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $10.25 target price on shares of OLO 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, Piper Sandler upped their price objective on shares of OLO from $8.00 to $10.25 and gave the company a "neutral" rating in a report on Monday, July 7th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average 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.