10,284 Shares in Olo Inc. (NYSE:OLO) Purchased by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC purchased a new stake in shares of Olo Inc. (NYSE:OLO – Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,284 shares of the company’s stock, valued at approximately $64,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in OLO by 17.3% during the third quarter. Vanguard Group Inc. now owns 9,795,930 shares of the company’s stock valued at $77,388,000 after buying an additional 1,446,531 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of OLO by 25.9% in the 1st quarter. Wellington Management Group LLP now owns 9,600,149 shares of the company’s stock valued at $127,203,000 after purchasing an additional 1,975,221 shares during the last quarter. BlackRock Inc. lifted its stake in shares of OLO by 1.9% in the 3rd quarter. BlackRock Inc. now owns 6,076,939 shares of the company’s stock valued at $48,009,000 after purchasing an additional 114,803 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of OLO by 185.1% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 5,318,549 shares of the company’s stock valued at $42,016,000 after purchasing an additional 3,453,136 shares during the last quarter. Finally, Tiger Global Management LLC lifted its stake in shares of OLO by 13.5% in the 3rd quarter. Tiger Global Management LLC now owns 5,104,581 shares of the company’s stock valued at $40,326,000 after purchasing an additional 606,419 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

OLO Stock Performance

Shares of OLO opened at $7.10 on Monday. The stock has a market cap of $1.15 billion, a P/E ratio of -24.48 and a beta of 1.20. The stock has a 50-day moving average of $7.54 and a two-hundred day moving average of $7.51. Olo Inc. has a one year low of $5.74 and a one year high of $14.08.

OLO (NYSE:OLO – Get Rating) last posted its quarterly earnings data on Wednesday, February 22nd. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. OLO had a negative return on equity of 4.66% and a negative net margin of 24.79%. The company had revenue of $49.78 million during the quarter, compared to analyst estimates of $48.47 million. Analysts predict that Olo Inc. will post -0.16 EPS for the current fiscal year.

Insider Activity

In other news, CFO Peter J. Benevides sold 8,580 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $7.79, for a total value of $66,838.20. Following the completion of the sale, the chief financial officer now directly owns 353,004 shares in the company, valued at $2,749,901.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Peter J. Benevides sold 8,580 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $7.79, for a total value of $66,838.20. Following the sale, the chief financial officer now directly owns 353,004 shares in the company, valued at $2,749,901.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Noah H. Glass sold 8,918 shares of the stock in a transaction on Monday, March 6th. The shares were sold at an average price of $7.80, for a total value of $69,560.40. Following the completion of the transaction, the chief executive officer now directly owns 310,880 shares in the company, valued at approximately $2,424,864. The disclosure for this sale can be found here. Insiders sold 34,491 shares of company stock worth $271,782 over the last ninety days. Corporate insiders own 40.52% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on OLO shares. StockNews.com started coverage on OLO in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Piper Sandler reaffirmed a “neutral” rating and issued a $9.00 price objective on shares of OLO in a research note on Tuesday, March 7th. Stifel Nicolaus decreased their price target on OLO from $10.00 to $9.00 in a research note on Wednesday, May 10th. Finally, Royal Bank of Canada raised 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $11.58.

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.