Point72 Asset Management L.P. Invests $74,000 in Olo Inc. (NYSE:OLO)

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

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. lifted its position in OLO by 52.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,410,528 shares of the company’s stock valued at $6,996,000 after buying an additional 487,919 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of OLO by 17.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,170,500 shares of the company’s stock valued at $5,174,000 after acquiring an additional 171,700 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of OLO by 14.3% during 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 acquiring an additional 127,569 shares in the last quarter. Millennium Management LLC increased its holdings in OLO by 24.3% in the 2nd quarter. Millennium Management LLC now owns 996,486 shares of the company’s stock valued at $4,404,000 after purchasing an additional 194,735 shares in the last quarter. Finally, Algert Global LLC raised its position in OLO by 9.6% in the third quarter. Algert Global LLC now owns 778,395 shares of the company’s stock valued at $3,861,000 after purchasing an additional 68,076 shares during the period. Institutional investors and hedge funds own 93.40% of the company’s stock.

Analysts Set New Price Targets

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

OLO Stock Up 0.8 %

NYSE OLO opened at $7.72 on Friday. The stock has a market cap of $1.26 billion, a PE ratio of -77.15 and a beta of 1.46. The business has a 50 day moving average price of $6.06 and a two-hundred day moving average price of $5.25. Olo Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $7.89.

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.