D.A. Davidson & CO. Takes Position in Olo Inc. (NYSE:OLO)

D.A. Davidson & CO. bought a new stake in shares of Olo Inc. (NYSE:OLO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 135,933 shares of the company’s stock, valued at approximately $1,044,000. D.A. Davidson & CO. owned approximately 0.08% of OLO at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in OLO. Tandem Financial LLC acquired a new position in OLO during the fourth quarter worth about $26,000. MQS Management LLC lifted its stake in OLO by 15.9% in the 3rd quarter. MQS Management LLC now owns 28,363 shares of the company’s stock worth $141,000 after purchasing an additional 3,898 shares in the last quarter. Creative Planning boosted 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 purchasing an additional 3,974 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its position in shares of OLO by 16.5% in the third quarter. Dynamic Technology Lab Private Ltd now owns 54,312 shares of the company’s stock valued at $269,000 after purchasing an additional 7,688 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in shares of OLO by 19.1% in the fourth quarter. SG Americas Securities LLC now owns 49,771 shares of the company’s stock valued at $382,000 after purchasing an additional 7,979 shares in the last quarter. Institutional investors and hedge funds own 93.40% of the company’s stock.

OLO Stock Performance

Shares of OLO opened at $6.88 on Monday. Olo Inc. has a 1 year low of $4.20 and a 1 year high of $8.35. The stock has a market capitalization of $1.13 billion, a PE ratio of -68.74 and a beta of 1.41. The stock has a 50-day simple moving average of $7.50 and a 200-day simple moving average of $6.28.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on OLO. Piper Sandler reiterated a “neutral” rating and issued a $8.00 price objective on shares of OLO in a research report on Wednesday, January 8th. Royal Bank of Canada upped their target price on shares of OLO from $8.00 to $9.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, StockNews.com cut shares of OLO from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th.

OLO Profile

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.