Driehaus Capital Management LLC Sells 4,622 Shares of Olo Inc. $OLO

Driehaus Capital Management LLC lessened its stake in shares of Olo Inc. (NYSE:OLO) by 0.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,257,266 shares of the company’s stock after selling 4,622 shares during the period. Driehaus Capital Management LLC’s holdings in OLO were worth $7,594,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of 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 in the last quarter. Ameriprise Financial Inc. increased its holdings in OLO by 2.0% during the fourth quarter. Ameriprise Financial Inc. now owns 672,841 shares of the company’s stock valued at $5,167,000 after buying an additional 13,387 shares during the period. ProShare Advisors LLC increased its holdings in OLO by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 29,504 shares of the company’s stock valued at $227,000 after buying an additional 9,709 shares during the period. Northern Trust Corp increased its holdings in 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 holdings in 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.

Analysts Set New Price Targets

Several brokerages recently issued reports on OLO. Royal Bank Of Canada reissued a “sector perform” rating and set a $10.25 price objective on shares of OLO in a report on Monday, July 7th. Lake Street Capital lowered shares of OLO from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 3rd. Wall Street Zen lowered shares of OLO from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Truist Financial lowered shares of OLO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 8th. Finally, Piper Sandler lifted their price objective on shares of OLO from $8.00 to $10.25 and gave the company a “neutral” rating in a report on Monday, July 7th. Four investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $10.17.

OLO Trading Up 0.1%

NYSE OLO opened at $10.25 on Friday. The firm’s fifty day simple moving average is $9.98 and its two-hundred day simple moving average is $8.20. Olo Inc. has a 12-month low of $4.56 and a 12-month high of $10.55. The firm has a market capitalization of $1.74 billion, a P/E ratio of 146.43 and a beta of 1.58.

OLO (NYSE:OLO) last released its quarterly earnings results on Monday, August 4th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.01). OLO had a positive return on equity of 2.13% and a negative net margin of 0.28%.The firm had revenue of $85.72 million during the quarter, compared to analysts’ expectations of $82.23 million. During the same period in the prior year, the firm posted $0.05 earnings per share. OLO’s revenue for the quarter was up 21.6% compared to the same quarter last year. As a group, sell-side analysts predict that Olo Inc. will post -0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Zuhairah Scott Washington sold 10,000 shares of the business’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $8.48, for a total transaction of $84,800.00. Following the sale, the director directly owned 68,677 shares of the company’s stock, valued at $582,380.96. The trade was a 12.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Noah H. Glass sold 10,152 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $8.80, for a total transaction of $89,337.60. Following the sale, the chief executive officer directly owned 278,202 shares in the company, valued at $2,448,177.60. This trade represents a 3.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,630 shares of company stock valued at $925,654. 38.41% of the stock is currently owned by company insiders.

About OLO

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.