Olo Inc. (NYSE:OLO) Shares Sold by Quadrature Capital Ltd

Quadrature Capital Ltd lessened its stake in shares of Olo Inc. (NYSE:OLO - Free Report) by 56.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,585 shares of the company's stock after selling 75,712 shares during the quarter. Quadrature Capital Ltd's holdings in OLO were worth $286,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Federated Hermes Inc. lifted its holdings in shares of OLO by 644,200.0% during the second quarter. Federated Hermes Inc. now owns 6,443 shares of the company's stock worth $28,000 after purchasing an additional 6,442 shares during the period. Wallace Advisory Group LLC purchased a new position in OLO during the 2nd quarter worth $57,000. SPC Financial Inc. acquired a new stake in shares of OLO in the 3rd quarter worth $65,000. Point72 DIFC Ltd increased its stake in shares of OLO by 52.7% during the second quarter. Point72 DIFC Ltd now owns 14,388 shares of the company's stock worth $64,000 after acquiring an additional 4,964 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in OLO during the third quarter worth about $74,000. Hedge funds and other institutional investors own 93.40% of the company's stock.

Wall Street Analysts Forecast Growth

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

OLO Stock Up 2.4 %

NYSE OLO traded up $0.18 during trading hours on Wednesday, hitting $7.80. 1,029,539 shares of the stock were exchanged, compared to its average volume of 1,057,926. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -76.20 and a beta of 1.46. Olo Inc. has a 12-month low of $4.20 and a 12-month high of $7.89. The stock has a 50-day moving average of $5.89 and a 200 day moving average of $5.19.

OLO Company 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.