206,007 Shares in Olo Inc. (NYSE:OLO) Purchased by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP purchased a new stake in Olo Inc. (NYSE:OLO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 206,007 shares of the company's stock, valued at approximately $1,582,000. ExodusPoint Capital Management LP owned 0.13% of OLO at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership increased its holdings in OLO by 138.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,895,935 shares of the company's stock valued at $14,561,000 after buying an additional 1,100,307 shares during the period. Norges Bank bought a new stake in OLO in the fourth quarter valued at about $5,181,000. Connor Clark & Lunn Investment Management Ltd. raised its position in OLO by 44.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,032,634 shares of the company's stock worth $15,611,000 after purchasing an additional 622,106 shares in the last quarter. Alliancebernstein L.P. lifted its stake in OLO by 544.8% during the fourth quarter. Alliancebernstein L.P. now owns 558,290 shares of the company's stock worth $4,288,000 after purchasing an additional 471,700 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in OLO by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 14,689,381 shares of the company's stock valued at $112,814,000 after purchasing an additional 415,868 shares in the last quarter. 93.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on OLO shares. StockNews.com cut OLO from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Piper Sandler reissued a "neutral" rating and set a $8.00 price target on shares of OLO in a report on Wednesday, January 8th. Finally, Royal Bank of Canada upped their price objective 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 Price Performance

Shares of OLO stock traded up $0.09 during trading hours on Tuesday, hitting $6.16. 152,850 shares of the company's stock were exchanged, compared to its average volume of 1,164,100. Olo Inc. has a 52 week low of $4.20 and a 52 week high of $8.35. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -61.54 and a beta of 1.42. The stock's 50-day moving average is $6.51 and its 200-day moving average is $6.59.

OLO (NYSE:OLO - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $76.07 million during the quarter, compared to analyst estimates of $72.76 million. Equities research analysts forecast that Olo Inc. will post -0.03 earnings per share for the current fiscal year.

OLO 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.