Olo Inc. (NYSE:OLO) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP trimmed its position in shares of Olo Inc. (NYSE:OLO - Free Report) by 41.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 293,630 shares of the company's stock after selling 209,491 shares during the period. GSA Capital Partners LLP owned approximately 0.18% of OLO worth $1,456,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of OLO by 2.6% in the first quarter. Vanguard Group Inc. now owns 12,739,568 shares of the company's stock valued at $69,940,000 after acquiring an additional 319,544 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of OLO by 17.2% in the second quarter. Renaissance Technologies LLC now owns 1,170,500 shares of the company's stock valued at $5,174,000 after acquiring an additional 171,700 shares in the last quarter. Millennium Management LLC raised its stake in shares of OLO by 24.3% in the second quarter. Millennium Management LLC now owns 996,486 shares of the company's stock valued at $4,404,000 after acquiring an additional 194,735 shares in the last quarter. Silvercrest Asset Management Group LLC raised its stake in shares of OLO by 3.2% in the first quarter. Silvercrest Asset Management Group LLC now owns 876,961 shares of the company's stock valued at $4,815,000 after acquiring an additional 26,919 shares in the last quarter. Finally, Algert Global LLC raised its stake in shares of OLO by 114.0% in the second quarter. Algert Global LLC now owns 710,319 shares of the company's stock valued at $3,140,000 after acquiring an additional 378,368 shares in the last quarter. 93.40% of the stock is currently owned by institutional investors and hedge funds.

OLO Stock Performance

Shares of OLO stock traded down $0.18 during mid-day trading on Thursday, hitting $6.49. 433,334 shares of the stock were exchanged, compared to its average volume of 1,010,106. The stock's fifty day simple moving average is $5.07 and its two-hundred day simple moving average is $4.88. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -66.69 and a beta of 1.26. Olo Inc. has a 12-month low of $4.20 and a 12-month high of $7.13.

Analyst Ratings Changes

OLO has been the topic of several analyst reports. Piper Sandler reiterated an "overweight" rating and issued a $8.00 price objective on shares of OLO in a research note on Thursday, August 1st. Lake Street Capital increased their target price on OLO from $8.50 to $9.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Finally, StockNews.com raised OLO from a "hold" rating to a "buy" rating in a report on Wednesday, September 11th.

Insiders Place Their Bets

In other OLO news, CEO Noah H. Glass sold 10,423 shares of the firm's stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $4.90, for a total transaction of $51,072.70. Following the transaction, the chief executive officer now owns 312,393 shares of the company's stock, valued at approximately $1,530,725.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Noah H. Glass sold 10,423 shares of the firm's stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $4.90, for a total transaction of $51,072.70. Following the transaction, the chief executive officer now owns 312,393 shares of the company's stock, valued at $1,530,725.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CRO Diego Panama sold 13,555 shares of the firm's stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $4.90, for a total value of $66,419.50. Following the transaction, the executive now directly owns 569,859 shares in the company, valued at approximately $2,792,309.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,148 shares of company stock valued at $554,425. 39.33% of the stock is currently owned by insiders.

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.