Tandem Financial LLC acquired a new stake in shares of Olo Inc. (NYSE:OLO – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,441 shares of the company’s stock, valued at approximately $26,000.
A number of other large investors have also recently made changes to their positions in OLO. SPC Financial Inc. purchased a new stake in OLO in the third quarter valued at $65,000. Point72 Asset Management L.P. purchased a new stake in OLO in the third quarter valued at $74,000. Benjamin Edwards Inc. purchased a new stake in OLO in the third quarter valued at $91,000. Intech Investment Management LLC purchased a new stake in OLO in the third quarter valued at $100,000. Finally, FMR LLC boosted its holdings in OLO by 1,850.5% in the third quarter. FMR LLC now owns 22,021 shares of the company’s stock valued at $109,000 after purchasing an additional 20,892 shares during the last quarter. 93.40% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the stock. Royal Bank of Canada upped their price target on shares of OLO from $8.00 to $9.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. StockNews.com lowered shares of OLO from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, 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.
OLO Trading Down 2.1 %
Shares of OLO stock opened at $7.28 on Friday. The firm has a 50-day simple moving average of $7.57 and a two-hundred day simple moving average of $6.09. Olo Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $8.35.
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.
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