StockNews.com Downgrades OLO (NYSE:OLO) to Hold

StockNews.com downgraded shares of OLO (NYSE:OLO) from a buy rating to a hold rating in a research report report published on Friday.

Several other equities research analysts have also issued reports on the company. Piper Sandler reiterated an “overweight” rating and set a $8.00 price target on shares of OLO in a report on Thursday, August 1st. Lake Street Capital raised their price objective on shares of OLO from $8.50 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st.

OLO Stock Up 2.4 %

Shares of NYSE:OLO opened at $7.17 on Friday. The company’s fifty day moving average is $5.32 and its two-hundred day moving average is $4.97. OLO has a 12-month low of $4.20 and a 12-month high of $7.26. The company has a market cap of $1.17 billion, a P/E ratio of -71.70 and a beta of 1.26.

Insider Transactions at OLO

In other news, CEO Noah H. Glass sold 10,423 shares of the firm’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 transaction of $51,072.70. Following the completion of the sale, the chief executive officer now owns 312,393 shares of the company’s stock, valued at approximately $1,530,725.70. This trade represents a 3.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Sherri Manning sold 9,356 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $4.90, for a total value of $45,844.40. Following the completion of the transaction, the insider now directly owns 148,414 shares in the company, valued at $727,228.60. The trade was a 5.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,148 shares of company stock valued at $554,425. 39.33% of the stock is owned by corporate insiders.

Institutional Trading of OLO

Hedge funds and other institutional investors have recently made changes to their positions in the business. Federated Hermes Inc. increased its holdings in shares of OLO by 644,200.0% in the second quarter. Federated Hermes Inc. now owns 6,443 shares of the company’s stock valued at $28,000 after purchasing an additional 6,442 shares in the last quarter. Wallace Advisory Group LLC acquired a new stake in shares of OLO during the second quarter worth $57,000. Point72 DIFC Ltd raised its position in OLO by 52.7% in the 2nd quarter. Point72 DIFC Ltd now owns 14,388 shares of the company’s stock valued at $64,000 after buying an additional 4,964 shares during the last quarter. SPC Financial Inc. bought a new stake in shares of OLO in the third quarter worth $65,000. Finally, Point72 Asset Management L.P. acquired a new position in OLO during the third quarter valued at approximately $74,000. 93.40% of the stock is currently owned by institutional investors and hedge funds.

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.