Rice Hall James & Associates LLC boosted its position in shares of Olo Inc. (NYSE:OLO - Free Report) by 56.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 549,550 shares of the company's stock after acquiring an additional 197,810 shares during the quarter. Rice Hall James & Associates LLC owned 0.34% of OLO worth $2,726,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. SPC Financial Inc. purchased a new position in OLO during the 3rd quarter valued at about $65,000. Creative Planning boosted its holdings in OLO by 15.1% during the 3rd quarter. Creative Planning now owns 30,371 shares of the company's stock valued at $151,000 after acquiring an additional 3,974 shares during the period. Essex Investment Management Co. LLC purchased a new position in OLO during the 3rd quarter valued at about $2,236,000. Point72 DIFC Ltd boosted its holdings in OLO by 52.7% during the 2nd quarter. Point72 DIFC Ltd now owns 14,388 shares of the company's stock valued at $64,000 after acquiring an additional 4,964 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its holdings in OLO by 154.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 567,864 shares of the company's stock valued at $2,510,000 after acquiring an additional 344,676 shares during the period. 93.40% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on OLO shares. Piper Sandler reiterated an "overweight" rating and issued a $8.00 price objective on shares of OLO in a research note on Thursday, August 1st. StockNews.com upgraded shares of OLO from a "hold" rating to a "buy" rating in a research note on Wednesday, September 11th. Finally, Lake Street Capital lifted their price target on shares of OLO from $8.50 to $9.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, OLO currently has a consensus rating of "Moderate Buy" and an average target price of $8.67.
View Our Latest Research Report on OLO
In other news, insider Sherri Manning sold 9,356 shares of OLO stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total value of $45,844.40. Following the sale, the insider now owns 148,414 shares of the company's stock, valued at $727,228.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CRO Diego Panama sold 13,555 shares of OLO stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total value of $66,419.50. Following the sale, the executive now owns 569,859 shares of the company's stock, valued at $2,792,309.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sherri Manning sold 9,356 shares of OLO stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total transaction of $45,844.40. Following the completion of the sale, the insider now directly owns 148,414 shares in the company, valued at approximately $727,228.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,148 shares of company stock worth $554,425. 39.33% of the stock is owned by company insiders.
Shares of NYSE:OLO opened at $5.12 on Friday. The firm has a market capitalization of $830.00 million, a P/E ratio of -34.13 and a beta of 1.27. Olo Inc. has a 12 month low of $4.20 and a 12 month high of $6.84. The company's fifty day moving average price is $4.97 and its 200 day moving average price is $4.82.
OLO (NYSE:OLO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, meeting analysts' consensus estimates of $0.05. The company had revenue of $70.50 million for the quarter, compared to analyst estimates of $67.79 million. OLO had a negative net margin of 9.36% and a negative return on equity of 0.47%. OLO's quarterly revenue was up 27.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.04) earnings per share. On average, sell-side analysts anticipate that Olo Inc. will post -0.06 EPS for the current year.
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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