Teacher Retirement System of Texas Sells 38,858 Shares of Olo Inc. (NYSE:OLO)

Teacher Retirement System of Texas reduced its position in Olo Inc. (NYSE:OLO) by 33.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,035 shares of the company’s stock after selling 38,858 shares during the period. Teacher Retirement System of Texas’ holdings in OLO were worth $465,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OLO. Envestnet Asset Management Inc. purchased a new stake in shares of OLO during the 4th quarter worth approximately $80,000. SMI Advisory Services LLC bought a new stake in OLO in the first quarter worth $62,000. Franklin Resources Inc. purchased a new stake in OLO during the fourth quarter valued at $81,000. TFJ Management LLC purchased a new stake in OLO during the fourth quarter valued at $107,000. Finally, Amundi lifted its position in OLO by 93.0% during the fourth quarter. Amundi now owns 14,740 shares of the company’s stock valued at $112,000 after purchasing an additional 7,101 shares during the last quarter. 93.40% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Robert Morvillo sold 10,129 shares of the firm’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $8.80, for a total value of $89,135.20. Following the transaction, the insider owned 386,516 shares of the company’s stock, valued at $3,401,340.80. This trade represents a 2.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Zuhairah Scott Washington sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $8.48, for a total transaction of $84,800.00. Following the transaction, the director directly owned 68,677 shares in the company, valued at approximately $582,380.96. This trade represents a 12.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 98,630 shares of company stock valued at $864,454. Insiders own 39.33% of the company’s stock.

OLO Trading Up 0.2%

Shares of NYSE:OLO opened at $10.15 on Thursday. Olo Inc. has a 12 month low of $4.56 and a 12 month high of $10.15. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 507.50 and a beta of 1.57. The firm’s 50-day moving average is $9.06 and its 200 day moving average is $7.59.

OLO (NYSE:OLO) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. OLO had a return on equity of 1.46% and a net margin of 1.09%. The firm had revenue of $80.68 million for the quarter, compared to the consensus estimate of $77.47 million. During the same period in the prior year, the business posted $0.05 earnings per share. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. As a group, equities analysts forecast that Olo Inc. will post -0.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Truist Financial downgraded shares of OLO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 8th. Wall Street Zen cut OLO from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Lake Street Capital lowered OLO from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 3rd. Piper Sandler lifted their target price on OLO from $8.00 to $10.25 and gave the stock a “neutral” rating in a report on Monday, July 7th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $10.25 price target on shares of OLO in a report on Monday, July 7th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $10.17.

OLO Company Profile

Olo, Inc engages in the provision of a cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded by Noah H. Glass on June 1, 2005 and is headquartered in New York, NY.