Private Advisor Group LLC trimmed its position in Olo Inc. (NYSE:OLO – Free Report) by 49.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,688 shares of the company’s stock after selling 28,488 shares during the period. Private Advisor Group LLC’s holdings in OLO were worth $174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently made changes to their positions in the company. Lazard Asset Management LLC purchased a new stake in OLO in the fourth quarter valued at $29,000. State of Wyoming grew its position in shares of OLO by 41.7% during the 4th quarter. State of Wyoming now owns 5,317 shares of the company’s stock valued at $33,000 after acquiring an additional 1,566 shares during the period. BluePath Capital Management LLC acquired a new stake in shares of OLO during the 3rd quarter valued at about $32,000. Dark Forest Capital Management LP grew its position in shares of OLO by 485.3% during the 1st quarter. Dark Forest Capital Management LP now owns 5,508 shares of the company’s stock valued at $45,000 after acquiring an additional 4,567 shares during the period. Finally, Clear Street Markets LLC acquired a new stake in shares of OLO during the 4th quarter valued at about $40,000. 81.79% of the stock is owned by institutional investors and hedge funds.
OLO Price Performance
OLO opened at $5.53 on Thursday. The company’s 50 day simple moving average is $5.44 and its two-hundred day simple moving average is $5.81. Olo Inc. has a 1-year low of $4.25 and a 1-year high of $9.12. The firm has a market capitalization of $907.92 million, a price-to-earnings ratio of -17.84 and a beta of 1.24.
Analyst Ratings Changes
A number of research firms have recently commented on OLO. Piper Sandler dropped their target price on OLO from $10.00 to $7.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 7th. Lake Street Capital started coverage on OLO in a report on Friday, December 15th. They issued a “buy” rating and a $7.50 price objective on the stock. Royal Bank of Canada lowered their price objective on OLO from $11.00 to $9.00 and set an “outperform” rating on the stock in a report on Tuesday, November 7th. Finally, William Blair cut OLO from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 7th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $8.90.
Insider Buying and Selling at OLO
In other OLO news, COO Joanna G. Lambert sold 6,150 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $5.78, for a total value of $35,547.00. Following the completion of the transaction, the chief operating officer now owns 666,587 shares in the company, valued at $3,852,872.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, COO Joanna G. Lambert sold 6,150 shares of the business’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $5.78, for a total transaction of $35,547.00. Following the completion of the transaction, the chief operating officer now owns 666,587 shares in the company, valued at $3,852,872.86. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Peter J. Benevides sold 7,898 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $5.78, for a total transaction of $45,650.44. Following the transaction, the chief financial officer now owns 357,792 shares of the company’s stock, valued at approximately $2,068,037.76. The disclosure for this sale can be found here. Insiders have sold a total of 37,977 shares of company stock valued at $219,523 over the last quarter. 39.12% of the stock is owned by company insiders.
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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