Insider Selling: Olo Inc. (NYSE:OLO) COO Sells 67,403 Shares of Stock

Olo Inc. (NYSE:OLO) COO Joanna G. Lambert sold 67,403 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $4.90, for a total transaction of $330,274.70. Following the completion of the transaction, the chief operating officer now owns 591,646 shares of the company’s stock, valued at approximately $2,899,065.40. The sale was disclosed in a filing with the SEC, which is available at this link.

OLO Price Performance

OLO stock opened at $4.75 on Wednesday. The company has a fifty day moving average price of $4.97 and a 200 day moving average price of $4.95. Olo Inc. has a 12 month low of $4.20 and a 12 month high of $6.84. The company has a market cap of $761.65 million, a price-to-earnings ratio of -16.36 and a beta of 1.27.

OLO (NYSE:OLO) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. The firm had revenue of $70.50 million during the quarter, compared to the consensus estimate of $67.79 million. OLO had a negative net margin of 9.36% and a negative return on equity of 0.47%. OLO’s revenue for the quarter was up 27.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.04) EPS. As a group, analysts anticipate that Olo Inc. will post -0.06 earnings per share for the current year.

Wall Street Analyst Weigh In

OLO has been the subject of several research reports. Lake Street Capital upped their price target on shares of OLO from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and issued a $8.00 price target on shares of OLO in a research report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $8.67.

Hedge Funds Weigh In On OLO

A number of large investors have recently bought and sold shares of the company. Diversified Trust Co raised its position in OLO by 8.8% during the 1st quarter. Diversified Trust Co now owns 28,207 shares of the company’s stock worth $155,000 after buying an additional 2,285 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in OLO by 6.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,023 shares of the company’s stock worth $186,000 after buying an additional 2,433 shares during the last quarter. Victory Capital Management Inc. raised its position in OLO by 29.7% during the 4th quarter. Victory Capital Management Inc. now owns 14,056 shares of the company’s stock worth $80,000 after buying an additional 3,219 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in OLO by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,636 shares of the company’s stock worth $218,000 after buying an additional 3,340 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in OLO by 10.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 48,240 shares of the company’s stock worth $265,000 after buying an additional 4,382 shares during the last quarter. Hedge funds and other institutional investors own 93.40% of the company’s stock.

About OLO

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.