Olo Inc. (NYSE:OLO) Shares Sold by US Bancorp DE

US Bancorp DE lessened its position in shares of Olo Inc. (NYSE:OLO) by 62.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,489 shares of the company’s stock after selling 30,751 shares during the quarter. US Bancorp DE’s holdings in OLO were worth $92,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of OLO. Vanguard Group Inc. boosted its position in OLO by 2.6% in the first quarter. Vanguard Group Inc. now owns 12,739,568 shares of the company’s stock valued at $69,940,000 after buying an additional 319,544 shares during the last quarter. Renaissance Technologies LLC lifted its stake in OLO by 17.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,170,500 shares of the company’s stock valued at $5,174,000 after acquiring an additional 171,700 shares during the period. Millennium Management LLC boosted its holdings in shares of OLO by 24.3% in the 2nd quarter. Millennium Management LLC now owns 996,486 shares of the company’s stock valued at $4,404,000 after acquiring an additional 194,735 shares during the last quarter. Silvercrest Asset Management Group LLC increased its stake in shares of OLO by 3.2% in the first quarter. Silvercrest Asset Management Group LLC now owns 876,961 shares of the company’s stock worth $4,815,000 after acquiring an additional 26,919 shares during the period. Finally, Algert Global LLC raised its holdings in shares of OLO by 114.0% during the second quarter. Algert Global LLC now owns 710,319 shares of the company’s stock worth $3,140,000 after purchasing an additional 378,368 shares during the last quarter. 93.40% of the stock is owned by institutional investors and hedge funds.

OLO Stock Performance

Shares of NYSE OLO opened at $6.42 on Friday. The company has a market capitalization of $1.04 billion, a PE ratio of -64.19 and a beta of 1.26. The company’s fifty day moving average price is $5.13 and its 200 day moving average price is $4.90. Olo Inc. has a 1 year low of $4.20 and a 1 year high of $7.13.

Wall Street Analyst Weigh In

Several equities research analysts have commented on OLO shares. StockNews.com raised shares of OLO from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Piper Sandler restated an “overweight” rating and issued a $8.00 target price on shares of OLO in a research note on Thursday, August 1st. Finally, Lake Street Capital lifted their price target on OLO from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Thursday, August 1st.

Insiders Place Their Bets

In other news, COO Joanna G. Lambert sold 67,403 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $4.90, for a total transaction of $330,274.70. Following the transaction, the chief operating officer now owns 591,646 shares in the company, valued at $2,899,065.40. This trade represents a 10.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Noah H. Glass sold 10,423 shares of OLO stock in a transaction on Friday, September 6th. The shares were sold at an average price of $4.90, for a total transaction of $51,072.70. Following the completion of the sale, the chief executive officer now directly owns 312,393 shares in the company, valued at $1,530,725.70. This represents a 3.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,148 shares of company stock worth $554,425. Company insiders own 39.33% of the company’s stock.

OLO Company Profile

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.