Marty D. Hahnfeld Sells 22,900 Shares of Olo Inc. (NYSE:OLO) Stock

Olo Inc. (NYSE:OLO) insider Marty D. Hahnfeld sold 22,900 shares of the company’s stock in a transaction on Monday, November 1st. The stock was sold at an average price of $27.91, for a total transaction of $639,139.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

OLO stock opened at $27.94 on Friday. The firm has a 50-day moving average of $32.81 and a 200-day moving average of $33.27. Olo Inc. has a one year low of $22.88 and a one year high of $49.00.

OLO (NYSE:OLO) last posted its quarterly earnings data on Tuesday, August 10th. The company reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.02. The business had revenue of $35.90 million for the quarter, compared to analyst estimates of $34.17 million. During the same quarter in the prior year, the company earned $0.05 earnings per share. The company’s quarterly revenue was up 47.7% on a year-over-year basis. On average, sell-side analysts expect that Olo Inc. will post -0.06 earnings per share for the current fiscal year.

A number of brokerages recently weighed in on OLO. Piper Sandler upped their target price on shares of OLO from $35.00 to $39.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 11th. Stifel Nicolaus raised shares of OLO from a “hold” rating to a “buy” rating and upped their target price for the stock from $27.00 to $41.00 in a research note on Wednesday, August 11th. Finally, Royal Bank of Canada upped their target price on shares of OLO from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, August 9th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $36.00.

Several hedge funds have recently modified their holdings of the company. Raine Capital LLC bought a new stake in shares of OLO in the 1st quarter valued at about $903,077,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of OLO by 7.1% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,353,004 shares of the company’s stock valued at $125,369,000 after purchasing an additional 223,621 shares during the period. Vanguard Group Inc. raised its holdings in shares of OLO by 76.2% in the 2nd quarter. Vanguard Group Inc. now owns 2,227,954 shares of the company’s stock valued at $83,304,000 after purchasing an additional 963,591 shares during the period. Morgan Stanley bought a new stake in shares of OLO in the 1st quarter valued at about $41,686,000. Finally, Ameriprise Financial Inc. bought a new stake in shares of OLO in the 1st quarter valued at about $35,180,000. 48.98% of the stock is currently owned by institutional investors.

About OLO

Olo Inc provides software-as-a-service platform for multi-location restaurants in the United States. The company's platform enables on-demand commerce operations, which cover digital ordering and delivery through online and mobile ordering modules. Its modules include Ordering, an on-demand commerce solution that enables consumers to order directly from and pay restaurants via mobile, web, kiosk, voice, and other digital channels; Dispatch, a fulfillment solution, which enables restaurants to offer, manage, and expand direct delivery; and Rails, an aggregator and channel management solution, which allows restaurants to control and syndicate menu, pricing, location data, and availability.

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