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Olo Inc. (NYSE:OLO) Shares Acquired by New York State Common Retirement Fund

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New York State Common Retirement Fund increased its holdings in Olo Inc. (NYSE:OLOGet Rating) by 72.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,304,875 shares of the company’s stock after acquiring an additional 547,050 shares during the quarter. New York State Common Retirement Fund owned approximately 0.82% of OLO worth $17,290,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of OLO. HWG Holdings LP acquired a new position in shares of OLO in the fourth quarter worth about $27,000. Geneos Wealth Management Inc. acquired a new stake in OLO during the fourth quarter valued at approximately $52,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in OLO during the fourth quarter valued at approximately $129,000. Shell Asset Management Co. acquired a new stake in OLO during the fourth quarter valued at approximately $151,000. Finally, Game Plan Financial Advisors LLC acquired a new stake in OLO during the first quarter valued at approximately $160,000. Institutional investors and hedge funds own 75.26% of the company’s stock.

OLO Trading Up 2.5 %

NYSE:OLO opened at $14.05 on Friday. The firm has a market capitalization of $2.23 billion, a PE ratio of -78.06 and a beta of 1.24. The stock has a 50 day moving average of $10.68 and a 200-day moving average of $12.44. Olo Inc. has a 52 week low of $8.11 and a 52 week high of $49.00.

OLO (NYSE:OLOGet Rating) last posted its earnings results on Tuesday, May 10th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). OLO had a negative net margin of 17.52% and a negative return on equity of 3.09%. The company had revenue of $42.80 million for the quarter, compared to the consensus estimate of $41.66 million. During the same period last year, the company posted ($0.01) earnings per share. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. As a group, analysts predict that Olo Inc. will post -0.17 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on OLO. Piper Sandler cut their price objective on OLO from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Monday, July 18th. StockNews.com cut OLO from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th. JPMorgan Chase & Co. cut their price objective on OLO from $26.00 to $21.00 in a research note on Friday, June 17th. Finally, William Blair restated an “outperform” rating on shares of OLO in a research note on Wednesday, May 11th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, OLO has an average rating of “Moderate Buy” and an average price target of $27.60.

Insider Buying and Selling

In related news, CEO Noah H. Glass sold 3,726 shares of the stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $10.87, for a total value of $40,501.62. Following the completion of the transaction, the chief executive officer now directly owns 142,051 shares of the company’s stock, valued at approximately $1,544,094.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Noah H. Glass sold 3,726 shares of the stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $10.87, for a total value of $40,501.62. Following the completion of the transaction, the chief executive officer now directly owns 142,051 shares of the company’s stock, valued at approximately $1,544,094.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Marty D. Hahnfeld sold 21,836 shares of the stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $10.53, for a total value of $229,933.08. Following the completion of the transaction, the insider now directly owns 603,292 shares of the company’s stock, valued at $6,352,664.76. The disclosure for this sale can be found here. Insiders sold 29,655 shares of company stock valued at $314,926 in the last three months.

OLO Profile

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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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