Olo Inc. (NYSE:OLO) CEO Sells $51,072.70 in Stock

Olo Inc. (NYSE:OLO) CEO Noah H. Glass sold 10,423 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $4.90, for a total value of $51,072.70. Following the completion of the transaction, the chief executive officer now owns 312,393 shares of the company’s stock, valued at approximately $1,530,725.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

OLO Stock Up 0.7 %

NYSE:OLO opened at $4.73 on Friday. The business’s 50-day moving average price is $4.98 and its two-hundred day moving average price is $4.95. Olo Inc. has a twelve month low of $4.20 and a twelve month high of $6.84.

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

Analyst Ratings Changes

Several brokerages have commented on OLO. Lake Street Capital raised their target price on OLO from $8.50 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Piper Sandler restated an “overweight” rating and issued a $8.00 target price 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 report on Wednesday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $8.67.

Hedge Funds Weigh In On OLO

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

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.