Zimmer Partners LP acquired a new stake in Olo Inc. (NYSE:OLO) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 51,000 shares of the company’s stock, valued at approximately $1,346,000.
Other large investors also recently added to or reduced their stakes in the company. Nellore Capital Management LLC purchased a new position in OLO in the first quarter valued at about $26,000. Citigroup Inc. purchased a new position in OLO in the first quarter valued at about $106,000. US Bancorp DE purchased a new position in OLO in the first quarter valued at about $263,000. Rokos Capital Management LLP purchased a new stake in shares of OLO during the first quarter worth about $279,000. Finally, HighTower Advisors LLC purchased a new stake in shares of OLO during the first quarter worth about $291,000. 47.07% of the stock is currently owned by institutional investors.
OLO stock traded up $0.84 during midday trading on Thursday, reaching $37.99. The company had a trading volume of 1,085 shares, compared to its average volume of 462,917. The stock’s 50 day moving average price is $34.59. Olo Inc. has a fifty-two week low of $22.88 and a fifty-two week high of $44.89.
A number of analysts have recently issued reports on OLO shares. The Goldman Sachs Group started coverage on OLO in a research report on Monday, April 12th. They set a “neutral” rating and a $28.00 target price on the stock. Piper Sandler assumed coverage on OLO in a research report on Monday, April 12th. They set an “overweight” rating and a $35.00 target price on the stock. Stifel Nicolaus assumed coverage on OLO in a research note on Monday, April 12th. They issued a “hold” rating and a $27.00 price target for the company. JPMorgan Chase & Co. assumed coverage on OLO in a research note on Monday, April 12th. They issued an “overweight” rating and a $36.00 price target for the company. Finally, Royal Bank of Canada assumed coverage on OLO in a research note on Monday, April 19th. They issued an “outperform” rating and a $32.00 price target for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $32.00.
Olo Inc provides software-as-a-service platform for multi-location restaurants in the United States. The company's platform enables on-demand commerce operations, which cover digital ordering and delivery through online and mobile ordering modules. Its modules include Ordering, an on-demand commerce solution that enables consumers to order directly from and pay restaurants via mobile, web, kiosk, voice, and other digital channels; Dispatch, a fulfillment solution, which enables restaurants to offer, manage, and expand direct delivery; and Rails, an aggregator and channel management solution, which allows restaurants to control and syndicate menu, pricing, location data, and availability.
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