Oppenheimer Asset Management Inc. Purchases 2,213 Shares of Olo Inc. (NYSE:OLO)

Oppenheimer Asset Management Inc. increased its position in shares of Olo Inc. (NYSE:OLO) by 7.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,594 shares of the company’s stock after buying an additional 2,213 shares during the period. Oppenheimer Asset Management Inc.’s holdings in OLO were worth $274,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of OLO. Wellington Management Group LLP boosted its holdings 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 buying an additional 1,975,221 shares during the period. Vanguard Group Inc. boosted its holdings in shares of OLO by 35.4% during the 1st quarter. Vanguard Group Inc. now owns 6,494,140 shares of the company’s stock worth $86,048,000 after buying an additional 1,696,613 shares during the period. Millennium Management LLC bought a new stake in shares of OLO during the 4th quarter worth $9,525,000. State Street Corp boosted its holdings in shares of OLO by 384.1% during the 2nd quarter. State Street Corp now owns 1,710,203 shares of the company’s stock worth $16,880,000 after buying an additional 1,356,896 shares during the period. Finally, Sei Investments Co. boosted its holdings in shares of OLO by 1,577.2% during the 2nd quarter. Sei Investments Co. now owns 886,706 shares of the company’s stock worth $8,752,000 after buying an additional 833,837 shares during the period. 81.79% of the stock is owned by institutional investors.

OLO Stock Down 0.3 %

NYSE:OLO opened at $6.33 on Wednesday. The company has a 50-day moving average of $6.74 and a 200-day moving average of $7.22. Olo Inc. has a 52 week low of $5.74 and a 52 week high of $9.55.

OLO (NYSE:OLO) last released its quarterly earnings data on Tuesday, August 1st. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $55.25 million during the quarter, compared to the consensus estimate of $53.22 million. OLO had a negative net margin of 26.19% and a negative return on equity of 4.19%. Equities research analysts predict that Olo Inc. will post -0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on OLO shares. Stifel Nicolaus increased their price target on shares of OLO from $9.00 to $10.00 and gave the company a “hold” rating in a report on Wednesday, August 2nd. Piper Sandler increased their price target on shares of OLO from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Wednesday, August 2nd. BTIG Research started coverage on shares of OLO in a report on Thursday, June 15th. They issued a “neutral” rating for the company. Royal Bank of Canada increased their price target on shares of OLO from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Finally, StockNews.com started coverage on shares of OLO in a report on Thursday, August 17th. They issued a “hold” rating for the company. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.42.

Insider Transactions at OLO

In related news, CRO Diego Panama sold 37,766 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $7.41, for a total transaction of $279,846.06. Following the completion of the sale, the executive now owns 637,235 shares in the company, valued at approximately $4,721,911.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Peter J. Benevides sold 7,892 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $7.28, for a total transaction of $57,453.76. Following the completion of the sale, the chief financial officer now owns 374,081 shares in the company, valued at approximately $2,723,309.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Diego Panama sold 37,766 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $7.41, for a total transaction of $279,846.06. Following the sale, the executive now owns 637,235 shares of the company’s stock, valued at approximately $4,721,911.35. The disclosure for this sale can be found here. In the last three months, insiders sold 59,706 shares of company stock valued at $440,324. Company insiders own 39.12% of the company’s stock.

OLO Company Profile

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.