Olo Inc. (NYSE:OLO) Shares Sold by Citigroup Inc.

Citigroup Inc. lessened its stake in Olo Inc. (NYSE:OLOFree Report) by 92.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,011 shares of the company’s stock after selling 60,504 shares during the quarter. Citigroup Inc.’s holdings in OLO were worth $30,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of OLO by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 35,655 shares of the company’s stock valued at $291,000 after purchasing an additional 1,554 shares in the last quarter. State of Wyoming raised its stake in shares of OLO by 41.7% in the 4th quarter. State of Wyoming now owns 5,317 shares of the company’s stock valued at $33,000 after purchasing an additional 1,566 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of OLO by 12.3% in the 1st quarter. HighTower Advisors LLC now owns 16,036 shares of the company’s stock valued at $213,000 after purchasing an additional 1,758 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of OLO by 26.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,544 shares of the company’s stock valued at $55,000 after purchasing an additional 1,799 shares in the last quarter. Finally, First Republic Investment Management Inc. grew its position in shares of OLO by 6.6% during the 1st quarter. First Republic Investment Management Inc. now owns 33,201 shares of the company’s stock valued at $271,000 after buying an additional 2,048 shares during the last quarter. Institutional investors and hedge funds own 93.40% of the company’s stock.

Wall Street Analyst Weigh In

OLO has been the subject of a number of recent research reports. Piper Sandler boosted their price objective on shares of OLO from $7.00 to $8.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Lake Street Capital initiated coverage on shares of OLO in a research report on Friday, December 15th. They set a “buy” rating and a $7.50 price objective for the company. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, OLO currently has a consensus rating of “Moderate Buy” and an average price target of $9.10.

Get Our Latest Report on OLO

OLO Price Performance

OLO stock opened at $5.23 on Wednesday. The firm has a 50 day simple moving average of $5.57 and a 200-day simple moving average of $5.51. The stock has a market capitalization of $845.91 million, a PE ratio of -14.51 and a beta of 1.28. Olo Inc. has a 12-month low of $4.25 and a 12-month high of $8.84.

OLO (NYSE:OLOGet Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. The business had revenue of $63.00 million during the quarter, compared to analysts’ expectations of $58.91 million. OLO had a negative net margin of 25.53% and a negative return on equity of 2.96%. The business’s revenue was up 26.5% on a year-over-year basis. During the same period last year, the firm posted ($0.03) earnings per share. On average, analysts forecast that Olo Inc. will post -0.1 earnings per share for the current fiscal year.

OLO Profile

(Free Report)

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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Institutional Ownership by Quarter for OLO (NYSE:OLO)

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