Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Olo Inc. (NYSE:OLO – Free Report) by 18.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,178 shares of the company’s stock after buying an additional 3,991 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in OLO were worth $150,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Sherbrooke Park Advisers LLC purchased a new stake in shares of OLO in the third quarter valued at about $82,000. Precision Wealth Strategies LLC purchased a new stake in shares of OLO in the 3rd quarter valued at approximately $82,000. MQS Management LLC purchased a new stake in shares of OLO during the 3rd quarter valued at approximately $86,000. Black Swift Group LLC acquired a new position in OLO in the third quarter valued at approximately $91,000. Finally, Fox Run Management L.L.C. purchased a new position in OLO in the third quarter worth approximately $131,000. 93.40% of the stock is owned by institutional investors and hedge funds.
OLO Stock Down 0.2 %
Shares of NYSE OLO opened at $4.68 on Thursday. Olo Inc. has a 52-week low of $4.25 and a 52-week high of $8.84. The business’s 50 day moving average is $5.22 and its two-hundred day moving average is $5.35. The firm has a market cap of $757.69 million, a price-to-earnings ratio of -13.06 and a beta of 1.29.
Analysts Set New Price Targets
Separately, Piper Sandler lifted their target price on OLO from $7.00 to $8.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, OLO presently has an average rating of “Moderate Buy” and an average target price of $9.10.
OLO 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.
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