Allspring Global Investments Holdings LLC trimmed its holdings in Olo Inc. (NYSE:OLO - Free Report) by 98.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,296 shares of the company's stock after selling 2,696,260 shares during the period. Allspring Global Investments Holdings LLC's holdings in OLO were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in OLO. Portside Wealth Group LLC raised its holdings in shares of OLO by 9.2% in the fourth quarter. Portside Wealth Group LLC now owns 41,014 shares of the company's stock valued at $235,000 after purchasing an additional 3,467 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of OLO by 48.4% during the 4th quarter. SG Americas Securities LLC now owns 40,316 shares of the company's stock worth $231,000 after buying an additional 13,155 shares in the last quarter. Baker Tilly Wealth Management LLC lifted its position in shares of OLO by 12.7% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 31,666 shares of the company's stock worth $181,000 after buying an additional 3,580 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of OLO by 4.4% in the 3rd quarter. Vanguard Group Inc. now owns 11,849,783 shares of the company's stock worth $71,810,000 after buying an additional 495,247 shares during the last quarter. Finally, Wesbanco Bank Inc. grew its holdings in shares of OLO by 193.7% in the third quarter. Wesbanco Bank Inc. now owns 204,712 shares of the company's stock valued at $1,241,000 after acquiring an additional 135,000 shares in the last quarter. 93.40% of the stock is currently owned by institutional investors and hedge funds.
OLO Trading Up 3.3 %
Shares of NYSE:OLO traded up $0.16 during mid-day trading on Friday, reaching $5.00. The company had a trading volume of 731,129 shares, compared to its average volume of 779,778. Olo Inc. has a one year low of $4.25 and a one year high of $8.84. The company's 50-day moving average price is $5.38 and its 200-day moving average price is $5.39. The firm has a market cap of $809.50 million, a price-to-earnings ratio of -13.89 and a beta of 1.28.
OLO (NYSE:OLO - Get Free Report) last released its 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. OLO had a negative return on equity of 2.96% and a negative net margin of 25.53%. The business had revenue of $63.00 million during the quarter, compared to the consensus estimate of $58.91 million. During the same period last year, the business posted ($0.03) earnings per share. The business's revenue for the quarter was up 26.5% on a year-over-year basis. On average, research analysts anticipate that Olo Inc. will post -0.1 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Separately, Piper Sandler lifted their price target on OLO from $7.00 to $8.00 and gave the stock an "overweight" rating in a report on Thursday, February 22nd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $9.10.
View Our Latest Stock Analysis on OLO
About OLO
(
Free Report)
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.
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