US Bancorp DE Sells 30,751 Shares of Olo Inc. (NYSE:OLO)

US Bancorp DE trimmed its holdings in shares of Olo Inc. (NYSE:OLO) by 62.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,489 shares of the company’s stock after selling 30,751 shares during the quarter. US Bancorp DE’s holdings in OLO were worth $92,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew 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 worth $186,000 after purchasing an additional 2,433 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of OLO by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,636 shares of the company’s stock worth $218,000 after buying an additional 3,340 shares in the last quarter. Creative Planning increased its stake in shares of OLO by 15.1% during the third quarter. Creative Planning now owns 30,371 shares of the company’s stock valued at $151,000 after buying an additional 3,974 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of OLO by 10.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 48,240 shares of the company’s stock valued at $265,000 after buying an additional 4,382 shares during the period. Finally, Point72 DIFC Ltd raised its holdings in shares of 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 in the last quarter. 93.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

OLO has been the topic of several recent research reports. Piper Sandler reiterated an “overweight” rating and set a $8.00 target price on shares of OLO in a report on Thursday, August 1st. Lake Street Capital lifted their price objective on shares of OLO from $8.50 to $9.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, StockNews.com upgraded OLO from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th.

Insider Transactions at OLO

In other OLO news, CEO Noah H. Glass sold 10,423 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $4.90, for a total value of $51,072.70. Following the completion of the sale, the chief executive officer now directly owns 312,393 shares in the company, valued at approximately $1,530,725.70. This trade represents a 3.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sherri Manning sold 9,356 shares of the business’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 sale, the insider now owns 148,414 shares in the company, valued at $727,228.60. The trade was a 5.93 % 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 in the last 90 days. Insiders own 39.33% of the company’s stock.

OLO Price Performance

OLO opened at $6.42 on Friday. The firm has a market capitalization of $1.04 billion, a PE ratio of -64.19 and a beta of 1.26. The business’s 50-day moving average is $5.13 and its two-hundred day moving average is $4.90. Olo Inc. has a 1 year low of $4.20 and a 1 year high of $7.13.

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.