Olo Inc. (NYSE:OLO) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its stake in Olo Inc. (NYSE:OLO) by 14.3% during the third quarter, Holdings Channel.com reports. The firm owned 1,017,934 shares of the company’s stock after purchasing an additional 127,569 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in OLO were worth $5,049,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC raised its position in OLO by 17.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,170,500 shares of the company’s stock valued at $5,174,000 after purchasing an additional 171,700 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in shares of OLO by 154.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 567,864 shares of the company’s stock worth $2,510,000 after acquiring an additional 344,676 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of OLO during the 2nd quarter worth about $249,000. Clearline Capital LP raised its position in shares of OLO by 325.8% during the 2nd quarter. Clearline Capital LP now owns 169,737 shares of the company’s stock worth $750,000 after acquiring an additional 129,874 shares in the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of OLO during the 3rd quarter worth about $1,600,000. Institutional investors and hedge funds own 93.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered OLO from a “buy” rating to a “hold” rating in a research report on Tuesday.

OLO Stock Down 0.8 %

NYSE:OLO opened at $7.65 on Friday. The stock’s 50 day moving average price is $6.00 and its 200 day moving average price is $5.22. The company has a market capitalization of $1.25 billion, a PE ratio of -76.50 and a beta of 1.46. Olo Inc. has a 52-week low of $4.20 and a 52-week high of $7.89.

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.