Allspring Global Investments Holdings LLC Reduces Stock Holdings in Olo Inc. (NYSE:OLO)

Allspring Global Investments Holdings LLC reduced its position in Olo Inc. (NYSE:OLO) by 98.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,296 shares of the company’s stock after selling 2,696,260 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in OLO were worth $208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Portside Wealth Group LLC increased its holdings in OLO by 9.2% in the 4th quarter. Portside Wealth Group LLC now owns 41,014 shares of the company’s stock worth $235,000 after acquiring an additional 3,467 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of OLO by 48.4% during the 4th quarter. SG Americas Securities LLC now owns 40,316 shares of the company’s stock valued at $231,000 after buying an additional 13,155 shares in the last quarter. Baker Tilly Wealth Management LLC raised its holdings in OLO by 12.7% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 31,666 shares of the company’s stock valued at $181,000 after acquiring an additional 3,580 shares during the period. Vanguard Group Inc. lifted its position in shares of OLO by 4.4% during the third quarter. Vanguard Group Inc. now owns 11,849,783 shares of the company’s stock worth $71,810,000 after acquiring an additional 495,247 shares in the last quarter. Finally, Wesbanco Bank Inc. boosted its holdings in shares of OLO by 193.7% in the third quarter. Wesbanco Bank Inc. now owns 204,712 shares of the company’s stock worth $1,241,000 after acquiring an additional 135,000 shares during the period. 93.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Piper Sandler increased their price objective on OLO from $7.00 to $8.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.10.

OLO Price Performance

OLO opened at $5.00 on Friday. Olo Inc. has a one year low of $4.25 and a one year high of $8.84. The firm has a market capitalization of $809.50 million, a P/E ratio of -13.89 and a beta of 1.28. The company has a fifty day moving average price of $5.38 and a 200-day moving average price of $5.39.

OLO (NYSE:OLO) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. The firm had revenue of $63.00 million for the quarter, compared to analysts’ expectations of $58.91 million. OLO had a negative return on equity of 2.96% and a negative net margin of 25.53%. The company’s revenue was up 26.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.03) EPS. On average, analysts expect that Olo Inc. will post -0.1 earnings per share for the current year.

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.