Cubist Systematic Strategies LLC Boosts Stake in Olo Inc. (NYSE:OLO)

Cubist Systematic Strategies LLC lifted its holdings in shares of Olo Inc. (NYSE:OLO) by 154.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 567,864 shares of the company’s stock after buying an additional 344,676 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.35% of OLO worth $2,510,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Federated Hermes Inc. grew its stake in shares of OLO by 644,200.0% in the second quarter. Federated Hermes Inc. now owns 6,443 shares of the company’s stock worth $28,000 after acquiring an additional 6,442 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new stake in OLO during the 1st quarter valued at $29,000. Rockport Wealth LLC purchased a new stake in OLO during the 1st quarter valued at $55,000. Wallace Advisory Group LLC bought a new position in shares of OLO during the 2nd quarter valued at $57,000. Finally, Point72 DIFC Ltd boosted its stake in shares of OLO by 52.7% in the 2nd quarter. Point72 DIFC Ltd now owns 14,388 shares of the company’s stock worth $64,000 after buying an additional 4,964 shares during the last quarter. 93.40% of the stock is currently owned by institutional investors.

Insider Buying and Selling at OLO

In other news, insider Sherri Manning sold 9,356 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $4.90, for a total value of $45,844.40. Following the completion of the transaction, the insider now owns 148,414 shares of the company’s stock, valued at $727,228.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CRO Diego Panama sold 13,555 shares of the firm’s 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 directly owns 569,859 shares of the company’s stock, valued at approximately $2,792,309.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Sherri Manning sold 9,356 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $4.90, for a total transaction of $45,844.40. Following the completion of the sale, the insider now owns 148,414 shares in the company, valued at approximately $727,228.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 113,148 shares of company stock valued at $554,425 over the last ninety days. 39.33% of the stock is currently owned by company insiders.

OLO Stock Up 2.1 %

OLO stock opened at $4.76 on Friday. The business’s 50-day moving average price is $5.05 and its 200-day moving average price is $4.84. The stock has a market cap of $771.64 million, a P/E ratio of -31.73 and a beta of 1.27. Olo Inc. has a twelve month low of $4.20 and a twelve month high of $6.84.

OLO (NYSE:OLO) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. The business had revenue of $70.50 million for the quarter, compared to the consensus estimate of $67.79 million. OLO had a negative net margin of 9.36% and a negative return on equity of 0.47%. The company’s revenue for the quarter was up 27.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. On average, equities research analysts expect that Olo Inc. will post -0.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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