Point72 Asset Management L.P. Buys Shares of 14,949 Olo Inc. (NYSE:OLO)

Point72 Asset Management L.P. purchased a new position in Olo Inc. (NYSE:OLO) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 14,949 shares of the company’s stock, valued at approximately $74,000.

Several other institutional investors and hedge funds have also made changes to their positions in OLO. Charles Schwab Investment Management Inc. raised its stake in OLO by 14.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,017,934 shares of the company’s stock valued at $5,049,000 after purchasing an additional 127,569 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of OLO by 17.2% in the second quarter. Renaissance Technologies LLC now owns 1,170,500 shares of the company’s stock valued at $5,174,000 after buying an additional 171,700 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of OLO by 154.4% during the second quarter. Cubist Systematic Strategies LLC now owns 567,864 shares of the company’s stock valued at $2,510,000 after buying an additional 344,676 shares during the period. SG Americas Securities LLC acquired a new stake in OLO during the second quarter worth approximately $249,000. Finally, Clearline Capital LP grew its stake in OLO by 325.8% in 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 during the period. 93.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

OLO Stock Performance

OLO opened at $7.72 on Friday. Olo Inc. has a 1 year low of $4.20 and a 1 year high of $7.89. The company’s 50 day simple moving average is $6.06 and its 200 day simple moving average is $5.25. The stock has a market capitalization of $1.26 billion, a PE ratio of -77.15 and a beta of 1.46.

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.