Arizona State Retirement System Takes $184,000 Position in Olo Inc. (NYSE:OLO)

Arizona State Retirement System purchased a new stake in shares of Olo Inc. (NYSE:OLOGet Rating) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 13,886 shares of the company’s stock, valued at approximately $184,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of OLO. Geneos Wealth Management Inc. purchased a new stake in OLO in the fourth quarter worth about $52,000. FDx Advisors Inc. increased its position in OLO by 55.5% in the fourth quarter. FDx Advisors Inc. now owns 11,936 shares of the company’s stock worth $248,000 after buying an additional 4,258 shares in the last quarter. Green Square Capital Advisors LLC purchased a new stake in OLO in the fourth quarter worth about $317,000. Squarepoint Ops LLC increased its position in OLO by 839.2% in the fourth quarter. Squarepoint Ops LLC now owns 145,527 shares of the company’s stock worth $3,028,000 after buying an additional 130,033 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in OLO in the fourth quarter worth about $7,255,000. 75.26% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Marty D. Hahnfeld sold 21,836 shares of the firm’s stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $10.53, for a total value of $229,933.08. Following the completion of the sale, the insider now directly owns 603,292 shares of the company’s stock, valued at approximately $6,352,664.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Marty D. Hahnfeld sold 21,836 shares of the firm’s stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $10.53, for a total transaction of $229,933.08. Following the completion of the sale, the insider now directly owns 603,292 shares of the company’s stock, valued at approximately $6,352,664.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Noah H. Glass sold 3,726 shares of the firm’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $10.87, for a total value of $40,501.62. Following the transaction, the chief executive officer now owns 142,051 shares in the company, valued at $1,544,094.37. The disclosure for this sale can be found here. Insiders sold 29,655 shares of company stock valued at $314,926 in the last ninety days.

Wall Street Analyst Weigh In

Several analysts recently issued reports on OLO shares. William Blair reiterated an “outperform” rating on shares of OLO in a research report on Wednesday, May 11th. JPMorgan Chase & Co. cut their target price on OLO from $26.00 to $21.00 in a research report on Friday, June 17th. Piper Sandler cut their target price on OLO from $14.00 to $13.00 and set an “overweight” rating for the company in a research report on Monday, July 18th. Finally, StockNews.com cut OLO from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to MarketBeat, OLO presently has an average rating of “Moderate Buy” and an average price target of $27.60.

OLO Price Performance

NYSE OLO opened at $14.05 on Friday. The stock has a market capitalization of $2.23 billion, a PE ratio of -78.06 and a beta of 1.24. The business has a 50 day simple moving average of $10.68 and a two-hundred day simple moving average of $12.44. Olo Inc. has a 1-year low of $8.11 and a 1-year high of $49.00.

OLO (NYSE:OLOGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $42.80 million for the quarter, compared to analysts’ expectations of $41.66 million. OLO had a negative net margin of 17.52% and a negative return on equity of 3.09%. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.01) EPS. On average, analysts anticipate that Olo Inc. will post -0.17 EPS for the current fiscal year.

OLO Profile

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Olo Inc provides software-as-a-service platform for multi-location restaurants in the United States. The company's platform enables on-demand commerce operations, which cover digital ordering and delivery through online and mobile ordering modules. Its modules include Order Management, an on-demand digital commerce and channel management solutions that enables consumers to order directly from and pay restaurants via mobile, web, kiosk, voice, and other digital channels; and Delivery Enablement, a fulfillment network, as well as a network aggregator and channel management solution, which enables restaurants to offer, manage, and expand direct delivery, as well as allows restaurants to control and syndicate menu, pricing, location data, and availability, while directly integrating and optimizing orders from third-parties into the restaurants' point-of-sale and systems.

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Institutional Ownership by Quarter for OLO (NYSE:OLO)

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