New York State Common Retirement Fund Has $13.16 Million Holdings in Olo Inc. (NYSE:OLO)

New York State Common Retirement Fund trimmed its holdings in shares of Olo Inc. (NYSE:OLO) by 14.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,301,303 shares of the company’s stock after selling 379,170 shares during the quarter. New York State Common Retirement Fund’s holdings in OLO were worth $13,163,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. BluePath Capital Management LLC bought a new position in shares of OLO during the third quarter worth approximately $32,000. Precision Wealth Strategies LLC bought a new stake in shares of OLO in the third quarter valued at approximately $82,000. Sherbrooke Park Advisers LLC acquired a new stake in OLO during the third quarter worth approximately $82,000. MQS Management LLC bought a new position in OLO during the 3rd quarter worth $86,000. Finally, Black Swift Group LLC acquired a new position in OLO in the 3rd quarter valued at $91,000. Institutional investors and hedge funds own 93.40% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler increased their target price on OLO from $7.00 to $8.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $9.10.

OLO Stock Performance

Shares of OLO opened at $4.93 on Tuesday. The firm has a 50 day simple moving average of $5.36 and a two-hundred day simple moving average of $5.38. Olo Inc. has a one year low of $4.25 and a one year high of $8.84.

OLO (NYSE:OLO) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.05 EPS for the quarter, hitting analysts’ consensus estimates of $0.05. The company had revenue of $63.00 million during the quarter, compared to analysts’ expectations of $58.91 million. OLO had a negative return on equity of 2.96% and a negative net margin of 25.53%. OLO’s revenue was up 26.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.03) EPS. On average, analysts expect that Olo Inc. will post -0.1 EPS for the current fiscal year.

About OLO

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.