Olo Inc. (NYSE:OLO) Shares Sold by State Street Corp

State Street Corp trimmed its position in Olo Inc. (NYSE:OLO) by 2.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,914,654 shares of the company’s stock after selling 67,714 shares during the quarter. State Street Corp’s holdings in OLO were worth $14,457,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of OLO. Federated Hermes Inc. grew its holdings in OLO by 644,200.0% during the 2nd quarter. Federated Hermes Inc. now owns 6,443 shares of the company’s stock worth $28,000 after acquiring an additional 6,442 shares in the last quarter. Wallace Advisory Group LLC bought a new stake in shares of OLO during the 2nd quarter valued at about $57,000. Point72 DIFC Ltd lifted its stake in OLO by 52.7% in the second quarter. Point72 DIFC Ltd now owns 14,388 shares of the company’s stock valued at $64,000 after buying an additional 4,964 shares during the last quarter. SPC Financial Inc. bought a new position in shares of OLO in the third quarter worth $65,000. Finally, Point72 Asset Management L.P. acquired a new stake in OLO in the third quarter worth approximately $74,000. Institutional investors and hedge funds own 93.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered OLO from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th.

OLO Stock Up 2.3 %

Shares of OLO stock opened at $7.72 on Wednesday. The stock has a 50-day moving average price of $6.43 and a 200 day moving average price of $5.39. Olo Inc. has a 12 month low of $4.20 and a 12 month high of $8.18. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -77.19 and a beta of 1.46.

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.