Principal Financial Group Inc. Acquires New Holdings in Olo Inc. (NYSE:OLO)

Principal Financial Group Inc. bought a new position in Olo Inc. (NYSE:OLO) in the 4th quarter, HoldingsChannel reports. The fund bought 97,811 shares of the company’s stock, valued at approximately $751,000.

Several other large investors also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in OLO by 52.9% in the third 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. JPMorgan Chase & Co. lifted its stake in shares of OLO by 220.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 558,507 shares of the company’s stock worth $2,770,000 after acquiring an additional 384,196 shares during the period. Landscape Capital Management L.L.C. bought a new position in shares of OLO in the third quarter valued at approximately $1,600,000. Walleye Capital LLC acquired a new position in shares of OLO during the third quarter valued at approximately $1,437,000. Finally, Barclays PLC raised its holdings in OLO by 399.3% during the third quarter. Barclays PLC now owns 190,335 shares of the company’s stock worth $943,000 after purchasing an additional 152,214 shares in the last quarter. Institutional investors and hedge funds own 93.40% of the company’s stock.

OLO Stock Down 1.9 %

Shares of NYSE OLO opened at $6.61 on Friday. The stock’s fifty day simple moving average is $7.31 and its 200 day simple moving average is $6.36. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -66.04 and a beta of 1.41. Olo Inc. has a 52-week low of $4.20 and a 52-week high of $8.35.

OLO (NYSE:OLO) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). OLO had a positive return on equity of 0.34% and a negative net margin of 5.89%. The company had revenue of $76.07 million during the quarter, compared to analysts’ expectations of $72.76 million. As a group, analysts anticipate that Olo Inc. will post -0.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

OLO has been the subject of a number of research reports. Royal Bank of Canada increased their price target on OLO from $8.00 to $9.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. StockNews.com cut OLO from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $8.00 price target on shares of OLO in a research report on Wednesday, January 8th.

About OLO

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.