Olo Inc. (NYSE:OLO) Shares Sold by Bares Capital Management Inc.

Bares Capital Management Inc. lessened its holdings in shares of Olo Inc. (NYSE:OLO) by 8.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,165,424 shares of the company’s stock after selling 207,879 shares during the quarter. OLO accounts for 0.6% of Bares Capital Management Inc.’s portfolio, making the stock its 20th largest position. Bares Capital Management Inc. owned 1.34% of OLO worth $17,670,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Brown Capital Management LLC grew its stake in OLO by 13.1% during the 1st quarter. Brown Capital Management LLC now owns 14,892,722 shares of the company’s stock valued at $121,525,000 after purchasing an additional 1,727,645 shares in the last quarter. Vanguard Group Inc. grew its stake in OLO by 17.3% during the 3rd quarter. Vanguard Group Inc. now owns 9,795,930 shares of the company’s stock valued at $77,388,000 after purchasing an additional 1,446,531 shares in the last quarter. Wellington Management Group LLP lifted its holdings in 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 last quarter. BlackRock Inc. lifted its holdings in OLO by 1.2% during the 1st quarter. BlackRock Inc. now owns 6,601,768 shares of the company’s stock worth $53,870,000 after buying an additional 79,993 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in OLO by 2.3% during the 1st quarter. Invesco Ltd. now owns 3,216,163 shares of the company’s stock worth $42,616,000 after buying an additional 71,143 shares during the last quarter. Institutional investors and hedge funds own 81.79% of the company’s stock.

Insider Buying and Selling at OLO

In other OLO news, CRO Diego Panama sold 37,766 shares of OLO stock in a transaction on 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Noah H. Glass sold 8,855 shares of OLO stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $6.20, for a total transaction of $54,901.00. Following the transaction, the chief executive officer now directly owns 293,691 shares in the company, valued at approximately $1,820,884.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CRO Diego Panama sold 37,766 shares of OLO stock in a transaction on Monday, August 7th. The shares were sold at an average price of $7.41, for a total value of $279,846.06. Following the transaction, the executive now owns 637,235 shares in the company, valued at $4,721,911.35. The disclosure for this sale can be found here. Insiders have sold 111,831 shares of company stock valued at $742,106 in the last quarter. Corporate insiders own 39.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on OLO. Royal Bank of Canada increased their target price on OLO from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Piper Sandler increased their target price on OLO from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Wednesday, August 2nd. JPMorgan Chase & Co. increased their target price on OLO from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Wednesday, August 2nd. BTIG Research assumed coverage on OLO in a report on Thursday, June 15th. They set a “neutral” rating on the stock. Finally, Stifel Nicolaus raised their price target on OLO from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Wednesday, August 2nd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.42.

OLO Trading Down 0.7 %

Shares of NYSE OLO opened at $6.10 on Tuesday. The company has a market cap of $995.91 million, a price-to-earnings ratio of -18.48 and a beta of 1.24. Olo Inc. has a 12-month low of $5.74 and a 12-month high of $9.55. The stock’s 50 day simple moving average is $6.71 and its 200 day simple moving average is $7.12.

OLO (NYSE:OLO) last announced its earnings results on Tuesday, August 1st. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. The firm had revenue of $55.25 million for the quarter, compared to the consensus estimate of $53.22 million. OLO had a negative return on equity of 4.19% and a negative net margin of 26.19%. As a group, equities analysts forecast that Olo Inc. will post -0.15 earnings per share for the current fiscal year.

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.