Olo Inc. (NYSE:OLO) Insider Sherri Manning Sells 5,657 Shares

Olo Inc. (NYSE:OLO) insider Sherri Manning sold 5,657 shares of OLO stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $8.80, for a total transaction of $49,781.60. Following the sale, the insider now owns 297,926 shares of the company’s stock, valued at approximately $2,621,748.80. The trade was a 1.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

OLO Price Performance

NYSE OLO traded down $0.15 during trading on Monday, hitting $8.77. 1,074,735 shares of the company’s stock traded hands, compared to its average volume of 1,265,091. The firm has a market cap of $1.46 billion, a P/E ratio of -87.69 and a beta of 1.58. The stock has a fifty day moving average of $7.45 and a two-hundred day moving average of $7.26. Olo Inc. has a 12-month low of $4.20 and a 12-month high of $9.78.

OLO (NYSE:OLO) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. The business had revenue of $80.68 million for the quarter, compared to analyst estimates of $77.47 million. OLO had a positive return on equity of 0.34% and a negative net margin of 5.89%. OLO’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period last year, the company earned $0.05 EPS. As a group, analysts expect that Olo Inc. will post -0.03 earnings per share for the current fiscal year.

Institutional Trading of OLO

A number of institutional investors have recently made changes to their positions in OLO. Global Retirement Partners LLC purchased a new position in shares of OLO in the fourth quarter worth $27,000. SBI Securities Co. Ltd. bought a new stake in OLO in the 4th quarter worth $35,000. SMI Advisory Services LLC bought a new stake in OLO in the 1st quarter worth $62,000. Calamos Advisors LLC purchased a new stake in shares of OLO during the first quarter worth about $63,000. Finally, Corton Capital Inc. bought a new stake in shares of OLO in the first quarter worth about $66,000. Hedge funds and other institutional investors own 93.40% of the company’s stock.

Analysts Set New Price Targets

OLO has been the topic of several recent research reports. Wall Street Zen lowered OLO from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Lake Street Capital increased their price target on shares of OLO from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, May 9th.

OLO Company Profile

Olo, Inc engages in the provision of a cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded by Noah H. Glass on June 1, 2005 and is headquartered in New York, NY.