Peter J. Benevides Sells 10,530 Shares of Olo Inc. (NYSE:OLO) Stock

Olo Inc. (NYSE:OLO) CFO Peter J. Benevides sold 10,530 shares of the company’s 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 $51,597.00. Following the completion of the sale, the chief financial officer now directly owns 414,403 shares in the company, valued at approximately $2,030,574.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

OLO Stock Down 0.9 %

Shares of OLO stock opened at $4.70 on Thursday. The firm has a market cap of $753.63 million, a PE ratio of -16.19 and a beta of 1.27. The business’s fifty day moving average is $4.97 and its two-hundred day moving average is $4.95. Olo Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $6.84.

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of OLO by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 12,739,568 shares of the company’s stock worth $69,940,000 after buying an additional 319,544 shares during the period. Dimensional Fund Advisors LP increased its holdings in OLO by 13.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,411,071 shares of the company’s stock valued at $19,512,000 after purchasing an additional 416,851 shares in the last quarter. Renaissance Technologies LLC increased its holdings in OLO by 17.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,170,500 shares of the company’s stock valued at $5,174,000 after purchasing an additional 171,700 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, Silvercrest Asset Management Group LLC increased its holdings in OLO by 3.2% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 876,961 shares of the company’s stock valued at $4,815,000 after purchasing an additional 26,919 shares in the last quarter. 93.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on OLO. Lake Street Capital upped their target price on OLO from $8.50 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Piper Sandler reissued an “overweight” rating and set a $8.00 price target on shares of OLO in a research note on Thursday, August 1st. Finally, StockNews.com raised OLO from a “hold” rating to a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.