FIL Ltd Has $2 Million Stock Position in Olo Inc. (NYSE:OLO)

FIL Ltd lessened its holdings in shares of Olo Inc. (NYSE:OLO - Free Report) by 94.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 260,906 shares of the company's stock after selling 4,139,094 shares during the quarter. FIL Ltd owned 0.16% of OLO worth $2,004,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of OLO by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 14,689,381 shares of the company's stock valued at $112,814,000 after buying an additional 415,868 shares during the last quarter. Geode Capital Management LLC boosted its holdings in OLO by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 2,466,289 shares of the company's stock worth $18,945,000 after purchasing an additional 21,484 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of OLO by 44.1% during 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 during the period. Arrowstreet Capital Limited Partnership raised its stake in OLO by 138.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,895,935 shares of the company's stock worth $14,561,000 after acquiring an additional 1,100,307 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in OLO by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,036,408 shares of the company's stock valued at $7,960,000 after acquiring an additional 18,474 shares during the period. 93.40% of the stock is owned by hedge funds and other institutional investors.

OLO Stock Performance

Shares of OLO stock traded up $0.02 during trading on Friday, reaching $6.05. The company's stock had a trading volume of 984,662 shares, compared to its average volume of 1,168,781. Olo Inc. has a one year low of $4.20 and a one year high of $8.35. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of -60.44 and a beta of 1.42. The business's fifty day moving average price is $6.45 and its 200-day moving average price is $6.59.

OLO (NYSE:OLO - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share 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 company had revenue of $76.07 million during the quarter, compared to the consensus estimate of $72.76 million. Sell-side analysts anticipate that Olo Inc. will post -0.03 EPS for the current year.

Analyst Upgrades and Downgrades

OLO has been the topic of several analyst reports. Piper Sandler restated a "neutral" rating and issued a $8.00 target price on shares of OLO in a research report on Wednesday, January 8th. StockNews.com cut shares of OLO from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Finally, Royal Bank of Canada raised their price objective on OLO from $8.00 to $9.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd.

About OLO

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.