Allspring Global Investments Holdings LLC Has $181,000 Holdings in Olo Inc. (NYSE:OLO)

Allspring Global Investments Holdings LLC trimmed its holdings in Olo Inc. (NYSE:OLO) by 6.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,523 shares of the company’s stock after selling 2,708 shares during the period. Allspring Global Investments Holdings LLC’s holdings in OLO were worth $181,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of OLO by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 12,739,568 shares of the company’s stock valued at $69,940,000 after purchasing an additional 319,544 shares during the period. Renaissance Technologies LLC lifted its stake in OLO by 17.2% in the second quarter. Renaissance Technologies LLC now owns 1,170,500 shares of the company’s stock valued at $5,174,000 after buying an additional 171,700 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of OLO by 24.3% in the second quarter. Millennium Management LLC now owns 996,486 shares of the company’s stock valued at $4,404,000 after buying an additional 194,735 shares during the period. Silvercrest Asset Management Group LLC increased its position in shares of OLO by 3.2% during the first quarter. Silvercrest Asset Management Group LLC now owns 876,961 shares of the company’s stock worth $4,815,000 after acquiring an additional 26,919 shares in the last quarter. Finally, Algert Global LLC raised its holdings in shares of OLO by 114.0% during the second quarter. Algert Global LLC now owns 710,319 shares of the company’s stock worth $3,140,000 after acquiring an additional 378,368 shares during the period. 93.40% of the stock is currently owned by institutional investors.

OLO Price Performance

OLO stock opened at $5.11 on Monday. The firm has a 50-day moving average of $4.97 and a 200-day moving average of $4.82. The company has a market cap of $828.36 million, a price-to-earnings ratio of -34.07 and a beta of 1.26. Olo Inc. has a one year low of $4.20 and a one year high of $6.84.

Insider Activity at OLO

In other OLO news, CRO Diego Panama sold 13,555 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $4.90, for a total transaction of $66,419.50. Following the transaction, the executive now owns 569,859 shares of the company’s stock, valued at $2,792,309.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, COO Joanna G. Lambert sold 67,403 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total value of $330,274.70. Following the completion of the sale, the chief operating officer now directly owns 591,646 shares in the company, valued at approximately $2,899,065.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Diego Panama sold 13,555 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $4.90, for a total value of $66,419.50. Following the transaction, the executive now directly owns 569,859 shares in the company, valued at approximately $2,792,309.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,148 shares of company stock valued at $554,425. Insiders own 39.33% of the company’s stock.

Analyst Upgrades and Downgrades

OLO has been the subject of a number of research reports. Lake Street Capital increased their target price on OLO from $8.50 to $9.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. StockNews.com raised OLO from a “hold” rating to a “buy” rating in a research report on Wednesday, September 11th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $8.00 price target on shares of OLO in a research report on Thursday, August 1st. One investment analyst has 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, OLO has an average rating of “Moderate Buy” and a consensus target price of $8.67.

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.