Charles Schwab Investment Management Inc. Raises Stock Position in Olo Inc. (NYSE:OLO)

Charles Schwab Investment Management Inc. grew its stake in shares of Olo Inc. (NYSE:OLO - Free Report) by 14.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,017,934 shares of the company's stock after acquiring an additional 127,569 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.63% of OLO worth $5,049,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in OLO. Connor Clark & Lunn Investment Management Ltd. increased its position in OLO by 52.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,410,528 shares of the company's stock valued at $6,996,000 after acquiring an additional 487,919 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of 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 purchasing an additional 171,700 shares during the last quarter. Millennium Management LLC increased its position in shares of OLO by 24.3% during the 2nd quarter. Millennium Management LLC now owns 996,486 shares of the company's stock valued at $4,404,000 after purchasing an additional 194,735 shares during the last quarter. Algert Global LLC lifted its stake in shares of OLO by 114.0% in the 2nd 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 period. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of OLO by 154.4% in the second quarter. Cubist Systematic Strategies LLC now owns 567,864 shares of the company's stock worth $2,510,000 after buying an additional 344,676 shares during the last quarter. 93.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of OLO from a "buy" rating to a "hold" rating in a research report on Tuesday.

OLO Stock Performance

NYSE:OLO traded up $0.07 during mid-day trading on Friday, hitting $7.72. 796,856 shares of the company traded hands, compared to its average volume of 1,062,666. The stock's fifty day moving average price is $6.00 and its 200-day moving average price is $5.22. Olo Inc. has a one year low of $4.20 and a one year high of $7.89.

OLO 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.