Norges Bank Acquires New Position in Olo Inc. (NYSE:OLO)

Norges Bank bought a new position in Olo Inc. (NYSE:OLO) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 674,564 shares of the company’s stock, valued at approximately $5,181,000. Norges Bank owned approximately 0.41% of OLO at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Tandem Financial LLC bought a new stake in shares of OLO in the 4th quarter worth approximately $26,000. Global Retirement Partners LLC bought a new position in shares of OLO during the fourth quarter valued at about $27,000. SBI Securities Co. Ltd. purchased a new position in shares of OLO in the fourth quarter worth about $35,000. Amundi lifted its stake in shares of OLO by 93.0% in the 4th quarter. Amundi now owns 14,740 shares of the company’s stock valued at $112,000 after acquiring an additional 7,101 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of OLO in the 3rd quarter valued at about $74,000. 93.40% of the stock is currently owned by institutional investors.

OLO Stock Performance

Shares of OLO stock opened at $6.32 on Thursday. Olo Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $8.35. The firm has a market cap of $1.05 billion, a P/E ratio of -63.19 and a beta of 1.42. The business’s 50 day moving average price is $6.58 and its 200-day moving average price is $6.55.

OLO (NYSE:OLO) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). OLO had a negative net margin of 5.89% and a positive return on equity of 0.34%. The company had revenue of $76.07 million for the quarter, compared to analysts’ expectations of $72.76 million. As a group, equities analysts predict that Olo Inc. will post -0.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on OLO shares. Royal Bank of Canada lifted their price target on OLO from $8.00 to $9.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. StockNews.com downgraded shares of OLO from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Finally, Piper Sandler reissued a “neutral” rating and set a $8.00 price target on shares of OLO in a research report on Wednesday, January 8th.

OLO Company Profile

Olo, Inc engages in the provision of cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded in 2005 and is headquartered in New York, NY.