Daiwa Securities Group Inc. Sells 30,000 Shares of Olo Inc. (NYSE:OLO)

Daiwa Securities Group Inc. trimmed its position in Olo Inc. (NYSE:OLO) by 12.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 219,043 shares of the company’s stock after selling 30,000 shares during the period. Daiwa Securities Group Inc. owned about 0.13% of OLO worth $1,253,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in OLO by 190.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 821,404 shares of the company’s stock valued at $4,978,000 after acquiring an additional 538,231 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in OLO during the 3rd quarter valued at about $3,499,000. Swiss National Bank boosted its stake in shares of OLO by 1.6% in the 3rd quarter. Swiss National Bank now owns 218,200 shares of the company’s stock valued at $1,322,000 after purchasing an additional 3,500 shares during the last quarter. Vanguard Group Inc. grew its position in shares of OLO by 4.4% during the 3rd quarter. Vanguard Group Inc. now owns 11,849,783 shares of the company’s stock worth $71,810,000 after buying an additional 495,247 shares during the period. Finally, Tudor Investment Corp Et Al raised its stake in shares of OLO by 81.9% during the third quarter. Tudor Investment Corp Et Al now owns 414,511 shares of the company’s stock worth $2,512,000 after buying an additional 186,635 shares during the last quarter. 93.40% of the stock is owned by institutional investors and hedge funds.

OLO Stock Up 4.6 %

Shares of NYSE:OLO opened at $4.92 on Wednesday. The company has a 50 day moving average price of $5.44 and a two-hundred day moving average price of $5.41. Olo Inc. has a 52 week low of $4.25 and a 52 week high of $8.84.

OLO (NYSE:OLO) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. The business had revenue of $63.00 million during the quarter, compared to analysts’ expectations of $58.91 million. OLO had a negative net margin of 25.53% and a negative return on equity of 2.96%. The firm’s quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.03) EPS. As a group, equities research analysts anticipate that Olo Inc. will post -0.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler raised their price objective on shares of OLO from $7.00 to $8.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, OLO currently has an average rating of “Moderate Buy” and a consensus target price of $9.10.

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.