Olo Inc. (NYSE:OLO) Stake Raised by XTX Topco Ltd

XTX Topco Ltd lifted its holdings in shares of Olo Inc. (NYSE:OLO - Free Report) by 478.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 168,577 shares of the company's stock after buying an additional 139,441 shares during the quarter. XTX Topco Ltd owned about 0.10% of OLO worth $836,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of OLO. Federated Hermes Inc. increased its stake in shares of OLO by 644,200.0% in the 2nd quarter. Federated Hermes Inc. now owns 6,443 shares of the company's stock worth $28,000 after acquiring an additional 6,442 shares in the last quarter. Wallace Advisory Group LLC bought a new position in OLO during the 2nd quarter worth about $57,000. SPC Financial Inc. acquired a new stake in OLO in the third quarter valued at approximately $65,000. Point72 DIFC Ltd raised its holdings 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 purchasing an additional 4,964 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of OLO during the third quarter worth about $74,000. Institutional investors own 93.40% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of OLO from a "buy" rating to a "hold" rating in a research note on Tuesday.

OLO Price Performance

OLO stock traded up $0.10 during midday trading on Wednesday, reaching $7.73. 1,621,777 shares of the company's stock traded hands, compared to its average volume of 1,060,668. The company has a market capitalization of $1.26 billion, a P/E ratio of -76.20 and a beta of 1.46. The business has a 50-day moving average price of $5.89 and a two-hundred day moving average price of $5.19. Olo Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $7.89.

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.