Vanguard Group Inc. Buys 495,247 Shares of Olo Inc. (NYSE:OLO)

Vanguard Group Inc. raised its stake in shares of Olo Inc. (NYSE:OLO - Free Report) by 4.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,849,783 shares of the company's stock after buying an additional 495,247 shares during the period. Vanguard Group Inc. owned approximately 7.22% of OLO worth $71,810,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its stake in OLO by 4.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 35,655 shares of the company's stock valued at $291,000 after buying an additional 1,554 shares during the period. State of Wyoming boosted its position in shares of OLO by 41.7% during the 4th quarter. State of Wyoming now owns 5,317 shares of the company's stock valued at $33,000 after purchasing an additional 1,566 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of OLO by 12.3% during the 1st quarter. HighTower Advisors LLC now owns 16,036 shares of the company's stock valued at $213,000 after purchasing an additional 1,758 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of OLO by 26.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,544 shares of the company's stock valued at $55,000 after purchasing an additional 1,799 shares in the last quarter. Finally, First Republic Investment Management Inc. boosted its position in shares of OLO by 6.6% during the 1st quarter. First Republic Investment Management Inc. now owns 33,201 shares of the company's stock valued at $271,000 after purchasing an additional 2,048 shares in the last quarter. Institutional investors and hedge funds own 93.40% of the company's stock.

OLO Trading Down 0.2 %

Shares of OLO traded down $0.01 during midday trading on Friday, hitting $5.14. The stock had a trading volume of 964,625 shares, compared to its average volume of 799,120. The business has a 50-day simple moving average of $5.58 and a two-hundred day simple moving average of $5.50. The firm has a market cap of $832.15 million, a P/E ratio of -14.28 and a beta of 1.28. Olo Inc. has a fifty-two week low of $4.25 and a fifty-two week high of $8.84.

OLO (NYSE:OLO - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.05. The business had revenue of $63.00 million during the quarter, compared to analyst estimates of $58.91 million. OLO had a negative net margin of 25.53% and a negative return on equity of 2.96%. The firm's revenue was up 26.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.03) earnings per share. On average, analysts expect that Olo Inc. will post -0.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Piper Sandler raised their price objective on shares of OLO from $7.00 to $8.00 and gave the company an "overweight" rating in a research report on Thursday, February 22nd. Lake Street Capital assumed coverage on shares of OLO in a research report on Friday, December 15th. They set a "buy" rating and a $7.50 price objective for the company. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, OLO presently has an average rating of "Moderate Buy" and a consensus target price of $9.10.

OLO Profile

Olo Inc operates an open SaaS platform for restaurants in the United States. The company's platform enables on-demand digital commerce operations, which cover digital ordering, delivery, front-of-house management, and payments. Its solutions include Order, a suite of solutions powering restaurant brands' on-demand commerce operations, enabling digital ordering, delivery, and channel management through ordering, dispatch, rails, switchboard, network, virtual brands, kiosk, catering, and sync modules; Engage, a suite of restaurant-centric marketing solutions optimizing guest lifetime value by strengthening and enhancing the restaurants' direct guest relationships, through the guest data platform, marketing, sentiment, and host modules; and Pay, a frictionless payment platform that enables restaurants to grow and protect their digital business through customer payment experience that offers advanced fraud prevention to improve authorization rates for valid transactions, and increase basket conversion through its Olo Pay module.