Olo Inc. (NYSE:OLO) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC cut its holdings in Olo Inc. (NYSE:OLO) by 12.7% during the 4th quarter, Holdings Channel reports. The firm owned 393,395 shares of the company’s stock after selling 57,373 shares during the period. Essex Investment Management Co. LLC’s holdings in OLO were worth $3,021,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of OLO. Arizona State Retirement System boosted its position in OLO by 5.1% during the fourth quarter. Arizona State Retirement System now owns 30,358 shares of the company’s stock worth $233,000 after acquiring an additional 1,464 shares during the last quarter. Tandem Financial LLC acquired a new stake in OLO during the fourth quarter worth approximately $26,000. Global Retirement Partners LLC acquired a new stake in OLO during the fourth quarter worth approximately $27,000. MQS Management LLC boosted its position in OLO by 15.9% during the third quarter. MQS Management LLC now owns 28,363 shares of the company’s stock worth $141,000 after acquiring an additional 3,898 shares during the last quarter. Finally, Creative Planning boosted its position in OLO by 15.1% during the third quarter. Creative Planning now owns 30,371 shares of the company’s stock worth $151,000 after acquiring an additional 3,974 shares during the last quarter. 93.40% of the stock is currently owned by institutional investors and hedge funds.

OLO Stock Down 2.4 %

NYSE:OLO opened at $6.44 on Friday. The company has a market cap of $1.05 billion, a P/E ratio of -64.34 and a beta of 1.41. Olo Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $8.35. The firm’s 50 day moving average is $7.29 and its two-hundred day moving average is $6.37.

OLO (NYSE:OLO) last issued its earnings results on Tuesday, February 25th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). OLO had a negative net margin of 5.89% and a positive return on equity of 0.34%. The business had revenue of $76.07 million during the quarter, compared to analysts’ expectations of $72.76 million. Research analysts forecast that Olo Inc. will post -0.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

OLO has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of OLO from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Piper Sandler reaffirmed a “neutral” rating and set a $8.00 price target on shares of OLO in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada increased their price target on shares of OLO from $8.00 to $9.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd.

OLO Company Profile

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