JPMorgan Chase & Co. Acquires 138,157 Shares of Olo Inc. (NYSE:OLO)

JPMorgan Chase & Co. grew its stake in shares of Olo Inc. (NYSE:OLO - Free Report) by 24.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 696,664 shares of the company's stock after acquiring an additional 138,157 shares during the period. JPMorgan Chase & Co. owned about 0.43% of OLO worth $5,350,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of OLO. Connor Clark & Lunn Investment Management Ltd. increased its position in 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 buying an additional 622,106 shares in the last quarter. Vanguard Group Inc. grew its position in shares of OLO by 2.9% in 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 during the period. Prudential Financial Inc. purchased a new stake in shares of OLO in the fourth quarter valued at $2,840,000. Globeflex Capital L P purchased a new stake in shares of OLO in the fourth quarter valued at $2,552,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of OLO in the fourth quarter valued at $2,346,000. 93.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on OLO. StockNews.com downgraded OLO from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Piper Sandler reiterated a "neutral" rating and issued a $8.00 target price on shares of OLO in a report on Wednesday, January 8th. Finally, Royal Bank of Canada lifted their target price on OLO from $8.00 to $9.00 and gave the company an "outperform" rating in a report on Friday, January 3rd.

OLO Stock Up 1.2 %

OLO stock traded up $0.08 during mid-day trading on Thursday, reaching $6.09. The company had a trading volume of 161,661 shares, compared to its average volume of 1,170,093. Olo Inc. has a one year low of $4.20 and a one year high of $8.35. The stock's 50-day simple moving average is $6.35 and its two-hundred day simple moving average is $6.62. The stock has a market capitalization of $1.01 billion, a P/E ratio of -60.84 and a beta of 1.42.

OLO (NYSE:OLO - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). OLO had a positive return on equity of 0.34% and a negative net margin of 5.89%. The company had revenue of $76.07 million during the quarter, compared to analyst estimates of $72.76 million. On average, research analysts forecast that Olo Inc. will post -0.03 EPS 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.