State Board of Administration of Florida Retirement System Increases Holdings in Olo Inc. (NYSE:OLO)

State Board of Administration of Florida Retirement System lifted its position in Olo Inc. (NYSE:OLO – Get Rating) by 10.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,780 shares of the company’s stock after purchasing an additional 1,460 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in OLO were worth $99,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of OLO. Point72 Hong Kong Ltd purchased a new position in OLO during the third quarter valued at approximately $64,000. Tortoise Investment Management LLC purchased a new position in OLO during the third quarter valued at approximately $66,000. Ensign Peak Advisors Inc purchased a new position in OLO during the first quarter valued at approximately $113,000. Janney Montgomery Scott LLC purchased a new position in OLO during the fourth quarter valued at approximately $63,000. Finally, Quantamental Technologies LLC purchased a new position in OLO during the third quarter valued at approximately $80,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OLO has been the subject of several recent research reports. StockNews.com initiated coverage on OLO in a research report on Thursday, May 18th. They set a “hold” rating for the company. Piper Sandler reissued a “neutral” rating and issued a $9.00 price objective on shares of OLO in a report on Tuesday, March 7th. Stifel Nicolaus lowered their price target on OLO from $10.00 to $9.00 in a research note on Wednesday, May 10th. Finally, Royal Bank of Canada lifted their price target on OLO from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, February 23rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, OLO has an average rating of “Hold” and an average price target of $11.58.

Insider Buying and Selling at OLO

In other OLO news, CEO Noah H. Glass sold 8,918 shares of OLO stock in a transaction on Monday, March 6th. The stock was sold at an average price of $7.80, for a total value of $69,560.40. Following the sale, the chief executive officer now owns 310,880 shares in the company, valued at $2,424,864. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other OLO news, CEO Noah H. Glass sold 8,918 shares of OLO stock in a transaction on Monday, March 6th. The stock was sold at an average price of $7.80, for a total value of $69,560.40. Following the sale, the chief executive officer now owns 310,880 shares in the company, valued at $2,424,864. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Diego Panama sold 11,826 shares of the business’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $8.04, for a total value of $95,081.04. Following the completion of the sale, the executive now owns 680,606 shares in the company, valued at approximately $5,472,072.24. The disclosure for this sale can be found here. Insiders have sold 34,491 shares of company stock worth $271,782 over the last quarter. 40.52% of the stock is currently owned by company insiders.

OLO Stock Performance

NYSE OLO opened at $7.15 on Wednesday. The stock’s fifty day moving average is $7.46 and its two-hundred day moving average is $7.44. The firm has a market capitalization of $1.16 billion, a P/E ratio of -24.66 and a beta of 1.20. Olo Inc. has a fifty-two week low of $5.74 and a fifty-two week high of $14.08.

OLO (NYSE:OLO – Get Rating) last posted its earnings results on Wednesday, February 22nd. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. OLO had a negative return on equity of 4.63% and a negative net margin of 24.71%. The company had revenue of $49.78 million for the quarter, compared to the consensus estimate of $48.47 million. As a group, sell-side analysts forecast that Olo Inc. will post -0.17 EPS for the current 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.