Olo Inc. (NYSE:OLO) Shares Sold by Wolff Wiese Magana LLC

Wolff Wiese Magana LLC reduced its holdings in shares of Olo Inc. (NYSE:OLOGet Rating) by 52.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,942 shares of the company’s stock after selling 17,415 shares during the quarter. Wolff Wiese Magana LLC’s holdings in OLO were worth $158,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Wellington Management Group LLP boosted its position in shares of OLO by 25.9% during the 1st quarter. Wellington Management Group LLP now owns 9,600,149 shares of the company’s stock worth $127,203,000 after acquiring an additional 1,975,221 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of OLO by 35.4% in the 1st quarter. Vanguard Group Inc. now owns 6,494,140 shares of the company’s stock valued at $86,048,000 after purchasing an additional 1,696,613 shares during the period. Nine Ten Capital Management LLC boosted its position in shares of OLO by 71.2% in the 1st quarter. Nine Ten Capital Management LLC now owns 3,948,690 shares of the company’s stock valued at $52,320,000 after purchasing an additional 1,641,735 shares during the period. Tiger Global Management LLC boosted its position in shares of OLO by 67.9% in the 1st quarter. Tiger Global Management LLC now owns 3,613,044 shares of the company’s stock valued at $47,873,000 after purchasing an additional 1,461,315 shares during the period. Finally, Invesco Ltd. boosted its position in shares of OLO by 2.3% in the 1st quarter. Invesco Ltd. now owns 3,216,163 shares of the company’s stock valued at $42,616,000 after purchasing an additional 71,143 shares during the period. 80.41% of the stock is owned by institutional investors and hedge funds.

OLO Stock Up 1.4 %

NYSE OLO traded up $0.11 during mid-day trading on Friday, hitting $7.81. The stock had a trading volume of 44,450 shares, compared to its average volume of 1,148,399. Olo Inc. has a 52-week low of $7.16 and a 52-week high of $34.56. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -33.13 and a beta of 1.41. The company has a 50 day simple moving average of $9.52 and a 200 day simple moving average of $10.67.

OLO (NYSE:OLOGet Rating) last released its quarterly earnings data on Thursday, August 11th. The company reported $0.01 earnings per share for the quarter. OLO had a negative return on equity of 3.99% and a negative net margin of 22.06%. The firm had revenue of $45.60 million during the quarter, compared to the consensus estimate of $45.83 million. During the same period last year, the business posted ($0.02) EPS. OLO’s quarterly revenue was up 27.0% on a year-over-year basis. As a group, equities analysts anticipate that Olo Inc. will post -0.21 earnings per share for the current fiscal year.

Insider Buying and Selling at OLO

In other news, insider Marty D. Hahnfeld sold 21,836 shares of the firm’s stock in a transaction 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 sale, the insider now owns 603,292 shares in the company, valued at $6,352,664.76. The transaction was disclosed in a legal 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 OLO stock in a transaction 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 transaction, the insider now owns 603,292 shares in the company, valued at $6,352,664.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel Harris Meyer bought 32,500 shares of OLO stock in a transaction that occurred on Thursday, August 18th. The stock was purchased at an average price of $7.62 per share, for a total transaction of $247,650.00. Following the acquisition, the director now directly owns 470,275 shares of the company’s stock, valued at approximately $3,583,495.50. The disclosure for this purchase can be found here. 40.52% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Stifel Nicolaus cut OLO from a “buy” rating to a “hold” rating and decreased their target price for the company from $12.00 to $9.00 in a research report on Friday, August 12th. Royal Bank of Canada decreased their price objective on OLO from $17.00 to $12.00 in a research report on Friday, August 12th. Piper Sandler cut OLO from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $13.00 to $9.00 in a research report on Friday, August 12th. StockNews.com downgraded OLO from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Truist Financial cut their target price on OLO from $25.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, August 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $13.40.

OLO Company 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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