Barclays PLC Buys 152,214 Shares of Olo Inc. (NYSE:OLO)

Barclays PLC increased its stake in Olo Inc. (NYSE:OLO) by 399.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 190,335 shares of the company’s stock after buying an additional 152,214 shares during the quarter. Barclays PLC’s holdings in OLO were worth $943,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of OLO by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,444,805 shares of the company’s stock valued at $12,130,000 after acquiring an additional 42,318 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in OLO by 52.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,410,528 shares of the company’s stock worth $6,996,000 after purchasing an additional 487,919 shares during the period. 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 worth $5,174,000 after purchasing an additional 171,700 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in OLO by 14.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,017,934 shares of the company’s stock worth $5,049,000 after purchasing an additional 127,569 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of OLO by 24.3% during the second quarter. Millennium Management LLC now owns 996,486 shares of the company’s stock valued at $4,404,000 after buying an additional 194,735 shares during the period. 93.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada increased their price target on OLO from $8.00 to $9.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. StockNews.com lowered OLO from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler reissued a “neutral” rating and set a $8.00 target price on shares of OLO in a research note on Wednesday, January 8th.

OLO Stock Performance

OLO stock opened at $7.51 on Wednesday. Olo Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $8.35. The company has a market capitalization of $1.23 billion, a PE ratio of -75.09 and a beta of 1.42. The company has a 50 day moving average price of $7.27 and a 200-day moving average price of $5.76.

OLO Company 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.