Goldman Sachs Group Inc. lowered its position in shares of Olo Inc. (NYSE:OLO – Free Report) by 28.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,121,108 shares of the company’s stock after selling 440,514 shares during the quarter. Goldman Sachs Group Inc.’s holdings in OLO were worth $6,771,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of OLO by 3.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,482 shares of the company’s stock valued at $457,000 after acquiring an additional 1,740 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in OLO by 2.0% in the 4th quarter. Ameriprise Financial Inc. now owns 672,841 shares of the company’s stock worth $5,167,000 after buying an additional 13,387 shares during the period. ProShare Advisors LLC grew its position in shares of OLO by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 29,504 shares of the company’s stock worth $227,000 after buying an additional 9,709 shares during the last quarter. Northern Trust Corp increased its stake in shares of OLO by 8.0% during the fourth quarter. Northern Trust Corp now owns 1,016,295 shares of the company’s stock valued at $7,805,000 after buying an additional 75,307 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of OLO by 20.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 165,173 shares of the company’s stock valued at $1,269,000 after buying an additional 27,496 shares during the period. Institutional investors own 93.40% of the company’s stock.
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Analysts Set New Price Targets
A number of analysts recently commented on the company. Piper Sandler raised their price target on OLO from $8.00 to $10.25 and gave the stock a “neutral” rating in a research note on Monday, July 7th. Wall Street Zen cut shares of OLO from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. Lake Street Capital cut shares of OLO from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. Royal Bank Of Canada restated a “sector perform” rating and issued a $10.25 price objective on shares of OLO in a report on Monday, July 7th. Finally, Truist Financial cut OLO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 8th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $10.17.
Get Our Latest Analysis on OLO
Insider Buying and Selling at OLO
In other news, CEO Noah H. Glass sold 11,735 shares of OLO stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $10.25, for a total value of $120,283.75. Following the completion of the transaction, the chief executive officer owned 266,467 shares of the company’s stock, valued at $2,731,286.75. The trade was a 4.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert Morvillo sold 10,736 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $10.25, for a total transaction of $110,044.00. Following the sale, the insider directly owned 375,780 shares in the company, valued at $3,851,745. This trade represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 102,623 shares of company stock valued at $1,049,846 in the last ninety days. Corporate insiders own 38.41% of the company’s stock.
OLO Price Performance
Shares of NYSE OLO opened at $10.26 on Monday. Olo Inc. has a 1 year low of $4.56 and a 1 year high of $10.55. The firm has a 50-day moving average of $10.23 and a 200 day moving average of $8.44. The stock has a market cap of $1.74 billion, a P/E ratio of 146.57 and a beta of 1.58.
OLO (NYSE:OLO – Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). OLO had a negative net margin of 0.28% and a positive return on equity of 2.13%. The business had revenue of $85.72 million for the quarter, compared to the consensus estimate of $82.23 million. During the same period in the prior year, the business posted $0.05 EPS. OLO’s revenue for the quarter was up 21.6% on a year-over-year basis. Research analysts expect that Olo Inc. will post -0.03 earnings per share for the current fiscal year.
OLO Profile
(Free Report)
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.
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