Handelsbanken Fonder AB purchased a new stake in Olo Inc. (NYSE:OLO – Get Rating) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 19,200 shares of the company’s stock, valued at approximately $120,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of OLO. Daiwa Securities Group Inc. increased its holdings in shares of OLO by 153.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 343,623 shares of the company’s stock valued at $2,148,000 after purchasing an additional 208,189 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of OLO in the fourth quarter valued at $301,000. Rheos Capital Works Inc. lifted its holdings in shares of OLO by 74.7% in the fourth quarter. Rheos Capital Works Inc. now owns 222,200 shares of the company’s stock valued at $1,389,000 after purchasing an additional 95,000 shares in the last quarter. ProShare Advisors LLC purchased a new stake in OLO in the 4th quarter valued at approximately $72,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in OLO by 146.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,219 shares of the company’s stock valued at $95,000 after purchasing an additional 9,034 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the stock. Royal Bank of Canada upped their price objective on shares of OLO from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Thursday, February 23rd. StockNews.com initiated coverage on shares of OLO in a research note on Thursday, March 16th. They set a “hold” rating for the company. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $9.00 price target on shares of OLO in a research note on Tuesday, March 7th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.58.
OLO Stock Up 1.8 %
OLO (NYSE:OLO – Get Rating) last issued its earnings results on Wednesday, February 22nd. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. The firm had revenue of $49.78 million for the quarter, compared to analyst estimates of $48.47 million. OLO had a negative return on equity of 4.66% and a negative net margin of 24.79%. As a group, equities analysts anticipate that Olo Inc. will post -0.16 earnings per share for the current year.
Insiders Place Their Bets
In other OLO news, CRO Diego Panama sold 11,826 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $8.04, for a total value of $95,081.04. Following the sale, the executive now owns 680,606 shares in the company, valued at $5,472,072.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Peter J. Benevides sold 8,580 shares of the firm’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $7.79, for a total transaction of $66,838.20. Following the completion of the transaction, the chief financial officer now owns 353,004 shares in the company, valued at approximately $2,749,901.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CRO Diego Panama sold 11,826 shares of OLO stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $8.04, for a total transaction of $95,081.04. Following the completion of the transaction, the executive now owns 680,606 shares in the company, valued at approximately $5,472,072.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,491 shares of company stock worth $271,782. Insiders own 40.52% of the company’s stock.
OLO Company Profile
Olo Inc provides software-as-a-service platform for multi-location restaurants in the United States. The company's platform enables on-demand commerce operations, which cover digital ordering and delivery through online and mobile ordering modules. Its modules include Order Management, an on-demand digital commerce and channel management solutions that enables consumers to order directly from and pay restaurants via mobile, web, kiosk, voice, and other digital channels; and Delivery Enablement, a fulfillment network, as well as a network aggregator and channel management solution, which enables restaurants to offer, manage, and expand direct delivery, as well as allows restaurants to control and syndicate menu, pricing, location data, and availability, while directly integrating and optimizing orders from third-parties into the restaurants' point-of-sale and systems.
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