State Street Corp Trims Holdings in Olo Inc. (NYSE:OLO)

State Street Corp cut its holdings in shares of Olo Inc. (NYSE:OLO) by 2.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,914,654 shares of the company’s stock after selling 67,714 shares during the period. State Street Corp owned about 1.80% of OLO worth $14,457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the stock. Point72 DIFC Ltd raised its stake in OLO by 108.6% in the 3rd quarter. Point72 DIFC Ltd now owns 30,015 shares of the company’s stock valued at $149,000 after purchasing an additional 15,627 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in OLO in the 3rd quarter valued at about $74,000. Benjamin Edwards Inc. purchased a new position in OLO in the 3rd quarter worth approximately $91,000. PDT Partners LLC boosted its holdings in shares of OLO by 58.5% during the 3rd quarter. PDT Partners LLC now owns 247,268 shares of the company’s stock worth $1,226,000 after purchasing an additional 91,312 shares during the last quarter. Finally, Walleye Capital LLC acquired a new position in shares of OLO during the 3rd quarter worth approximately $1,437,000. 93.40% of the stock is owned by institutional investors and hedge funds.

OLO Stock Up 2.3 %

Shares of OLO stock opened at $7.72 on Wednesday. The company’s 50-day simple moving average is $6.43 and its 200-day simple moving average is $5.39. Olo Inc. has a 52-week low of $4.20 and a 52-week high of $8.18. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -77.19 and a beta of 1.46.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of OLO from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th.

About OLO

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.