Raymond James Financial Inc. Acquires New Holdings in Olo Inc. (NYSE:OLO)

Raymond James Financial Inc. bought a new position in Olo Inc. (NYSE:OLO) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 305,417 shares of the company’s stock, valued at approximately $2,346,000. Raymond James Financial Inc. owned approximately 0.19% of OLO at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of OLO. Arizona State Retirement System increased its holdings in shares of OLO by 5.1% in the fourth quarter. Arizona State Retirement System now owns 30,358 shares of the company’s stock worth $233,000 after purchasing an additional 1,464 shares during the period. Aigen Investment Management LP increased its stake in OLO by 66.9% in the 4th quarter. Aigen Investment Management LP now owns 44,526 shares of the company’s stock worth $342,000 after acquiring an additional 17,855 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of OLO by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,036,408 shares of the company’s stock valued at $7,960,000 after acquiring an additional 18,474 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of OLO during the 4th quarter valued at about $35,000. Finally, Global Retirement Partners LLC purchased a new position in shares of OLO during the fourth quarter worth about $27,000. 93.40% of the stock is currently owned by hedge funds and other institutional investors.

OLO Stock Performance

Shares of OLO opened at $6.17 on Friday. Olo Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $8.35. The firm has a 50 day moving average price of $6.87 and a 200-day moving average price of $6.48. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -61.64 and a beta of 1.41.

OLO (NYSE:OLO) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). OLO had a positive return on equity of 0.34% and a negative net margin of 5.89%. The business had revenue of $76.07 million during the quarter, compared to the consensus estimate of $72.76 million. As a group, equities research analysts predict that Olo Inc. will post -0.03 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on OLO. Piper Sandler reissued a “neutral” rating and issued a $8.00 price target on shares of OLO in a report on Wednesday, January 8th. Royal Bank of Canada increased their target price on OLO from $8.00 to $9.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, StockNews.com lowered OLO from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th.

About OLO

Olo, Inc engages in the provision of cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded in 2005 and is headquartered in New York, NY.