Olo Inc. (NYSE:OLO) Insider Sherri Manning Sells 9,356 Shares

Olo Inc. (NYSE:OLO) insider Sherri Manning sold 9,356 shares of OLO stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $4.90, for a total value of $45,844.40. Following the completion of the sale, the insider now directly owns 148,414 shares in the company, valued at approximately $727,228.60. The sale was disclosed in a legal filing with the SEC, which is available at this link.

OLO Trading Down 3.2 %

OLO stock opened at $4.75 on Wednesday. The firm has a 50 day moving average of $4.97 and a 200-day moving average of $4.95. 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 Inc. has a 12-month low of $4.20 and a 12-month high of $6.84.

OLO (NYSE:OLO) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. The firm had revenue of $70.50 million during the quarter, compared to analysts’ expectations of $67.79 million. OLO had a negative return on equity of 0.47% and a negative net margin of 9.36%. OLO’s revenue was up 27.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.04) earnings per share. Sell-side analysts forecast that Olo Inc. will post -0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On OLO

Several institutional investors and hedge funds have recently made changes to their positions in the business. Wallace Advisory Group LLC purchased a new position in OLO during the 2nd quarter valued at about $57,000. Clearline Capital LP grew its position in shares of OLO by 325.8% in the second quarter. Clearline Capital LP now owns 169,737 shares of the company’s stock valued at $750,000 after purchasing an additional 129,874 shares during the last quarter. Algert Global LLC grew its position in shares of OLO by 114.0% in the second quarter. Algert Global LLC now owns 710,319 shares of the company’s stock valued at $3,140,000 after purchasing an additional 378,368 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its stake in shares of OLO by 7.3% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 202,798 shares of the company’s stock worth $896,000 after purchasing an additional 13,747 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of 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 purchasing an additional 2,433 shares during the last quarter. 93.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.