Allspring Global Investments Holdings LLC Sells 2,708 Shares of Olo Inc. (NYSE:OLO)

Allspring Global Investments Holdings LLC cut its holdings in shares of Olo Inc. (NYSE:OLO) by 6.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,523 shares of the company’s stock after selling 2,708 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in OLO were worth $181,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its stake in OLO by 6.1% in the second quarter. The Manufacturers Life Insurance Company now owns 42,023 shares of the company’s stock valued at $186,000 after purchasing an additional 2,433 shares in the last quarter. Creative Planning lifted its holdings in shares of OLO by 15.1% during the 3rd quarter. Creative Planning now owns 30,371 shares of the company’s stock worth $151,000 after acquiring an additional 3,974 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of OLO by 10.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 48,240 shares of the company’s stock worth $265,000 after acquiring an additional 4,382 shares in the last quarter. Point72 DIFC Ltd increased its stake in OLO by 52.7% in the second quarter. Point72 DIFC Ltd now owns 14,388 shares of the company’s stock valued at $64,000 after acquiring an additional 4,964 shares during the last quarter. Finally, Rhumbline Advisers raised its position in OLO by 3.3% during the second quarter. Rhumbline Advisers now owns 153,760 shares of the company’s stock valued at $680,000 after purchasing an additional 4,979 shares in the last quarter. 93.40% of the stock is currently owned by institutional investors.

Insider Transactions at OLO

In related news, CRO Diego Panama sold 13,555 shares of OLO stock in a transaction on Friday, September 6th. The shares were sold at an average price of $4.90, for a total transaction of $66,419.50. Following the completion of the transaction, the executive now owns 569,859 shares of the company’s stock, valued at $2,792,309.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other OLO news, insider Sherri Manning sold 9,356 shares of OLO stock in a transaction on Friday, September 6th. The shares were sold at an average price of $4.90, for a total value of $45,844.40. Following the completion of the sale, the insider now directly owns 148,414 shares of the company’s stock, valued at approximately $727,228.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Diego Panama sold 13,555 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total transaction of $66,419.50. Following the transaction, the executive now owns 569,859 shares in the company, valued at $2,792,309.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,148 shares of company stock worth $554,425. Company insiders own 39.33% of the company’s stock.

OLO Price Performance

OLO stock opened at $5.11 on Monday. The stock’s 50 day moving average is $4.97 and its 200 day moving average is $4.82. Olo Inc. has a one year low of $4.20 and a one year high of $6.84. The firm has a market cap of $828.36 million, a P/E ratio of -34.07 and a beta of 1.26.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on OLO shares. Piper Sandler reissued an “overweight” rating and set a $8.00 price target on shares of OLO in a report on Thursday, August 1st. Lake Street Capital boosted their target price on OLO from $8.50 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, StockNews.com raised shares of OLO from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, OLO presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.67.

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.