Walleye Capital LLC Sells 10,486 Shares of Olo Inc. (NYSE:OLO)

Walleye Capital LLC lowered its position in shares of Olo Inc. (NYSE:OLOGet Rating) by 27.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,280 shares of the company’s stock after selling 10,486 shares during the period. Walleye Capital LLC’s holdings in OLO were worth $269,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Castle Wealth Management LLC bought a new stake in shares of OLO in the 2nd quarter valued at about $58,000. Nisa Investment Advisors LLC bought a new stake in shares of OLO in the 2nd quarter valued at about $60,000. Ensign Peak Advisors Inc bought a new stake in shares of OLO in the 1st quarter valued at about $113,000. ProShare Advisors LLC bought a new stake in shares of OLO in the 2nd quarter valued at about $100,000. Finally, Captrust Financial Advisors grew its position in shares of OLO by 159.8% in the 1st quarter. Captrust Financial Advisors now owns 10,417 shares of the company’s stock valued at $138,000 after buying an additional 6,407 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.

OLO Stock Performance

OLO stock opened at $7.52 on Friday. The stock’s 50 day simple moving average is $8.13 and its 200 day simple moving average is $9.50. Olo Inc. has a fifty-two week low of $7.16 and a fifty-two week high of $28.04. The company has a market cap of $1.20 billion, a P/E ratio of -31.33 and a beta of 1.17.

Analysts Set New Price Targets

A number of equities research analysts have commented on OLO shares. Truist Financial reduced their price target on OLO from $16.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, October 13th. The Goldman Sachs Group started coverage on OLO in a research report on Wednesday, October 19th. They set a “neutral” rating and a $8.50 target price on the stock. Royal Bank of Canada cut their target price on OLO from $17.00 to $12.00 in a research report on Friday, August 12th. StockNews.com lowered OLO from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Piper Sandler lowered OLO from an “overweight” rating to a “neutral” rating and cut their target price for the company from $13.00 to $9.00 in a research report on Friday, August 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $11.92.

About OLO

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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.

See Also

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Institutional Ownership by Quarter for OLO (NYSE:OLO)

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