New York State Common Retirement Fund Has $13.16 Million Holdings in Olo Inc. (NYSE:OLO)

New York State Common Retirement Fund lessened its stake in Olo Inc. (NYSE:OLO - Free Report) by 14.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,301,303 shares of the company's stock after selling 379,170 shares during the period. New York State Common Retirement Fund owned about 1.40% of OLO worth $13,163,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of OLO by 18.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,178 shares of the company's stock valued at $150,000 after buying an additional 3,991 shares during the period. Cornercap Investment Counsel Inc. lifted its stake in OLO by 17.8% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 187,205 shares of the company's stock worth $1,071,000 after purchasing an additional 28,315 shares during the period. Conestoga Capital Advisors LLC lifted its stake in OLO by 4.2% during the fourth quarter. Conestoga Capital Advisors LLC now owns 218,005 shares of the company's stock worth $1,247,000 after purchasing an additional 8,750 shares during the period. Portside Wealth Group LLC lifted its stake in OLO by 9.2% during the fourth quarter. Portside Wealth Group LLC now owns 41,014 shares of the company's stock worth $235,000 after purchasing an additional 3,467 shares during the period. Finally, SG Americas Securities LLC lifted its stake in OLO by 48.4% during the fourth quarter. SG Americas Securities LLC now owns 40,316 shares of the company's stock worth $231,000 after purchasing an additional 13,155 shares during the period. Institutional investors own 93.40% of the company's stock.

OLO Trading Down 2.6 %

Shares of OLO stock traded down $0.13 during midday trading on Tuesday, reaching $4.80. The company had a trading volume of 864,541 shares, compared to its average volume of 955,596. The company has a market capitalization of $777.12 million, a price-to-earnings ratio of -13.69 and a beta of 1.28. The stock has a fifty day simple moving average of $5.36 and a 200 day simple moving average of $5.38. Olo Inc. has a 1-year low of $4.25 and a 1-year high of $8.84.

OLO (NYSE:OLO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.05 earnings per share for the quarter, meeting 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%. OLO's revenue for the quarter was up 26.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.03) earnings per share. Sell-side analysts expect that Olo Inc. will post -0.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Piper Sandler raised their price target on shares of OLO from $7.00 to $8.00 and gave the stock an "overweight" rating in a research note on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $9.10.

OLO Company 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.