D.A. Davidson & CO. Makes New Investment in Olo Inc. (NYSE:OLO)

D.A. Davidson & CO. bought a new stake in Olo Inc. (NYSE:OLO) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 135,933 shares of the company’s stock, valued at approximately $1,044,000.

Other large investors have also modified their holdings of the company. Tandem Financial LLC purchased a new position in shares of OLO during the 4th quarter worth approximately $26,000. Point72 Asset Management L.P. acquired a new position in OLO during the third quarter worth $74,000. Benjamin Edwards Inc. purchased a new position in OLO in the third quarter worth $91,000. Intech Investment Management LLC purchased a new position in OLO in the third quarter worth $100,000. Finally, FMR LLC lifted 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 acquiring an additional 20,892 shares during the period. Hedge funds and other institutional investors own 93.40% of the company’s stock.

OLO Trading Down 3.0 %

Shares of NYSE OLO opened at $6.88 on Monday. The company’s 50-day moving average price is $7.50 and its 200 day moving average price is $6.28. Olo Inc. has a 52 week low of $4.20 and a 52 week high of $8.35. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -68.74 and a beta of 1.41.

Wall Street Analysts Forecast Growth

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

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.