Noah Glass Sells 11,735 Shares of OLO (NYSE:OLO) Stock

Olo Inc. (NYSE:OLO) CEO Noah Glass sold 11,735 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $10.25, for a total value of $120,283.75. Following the transaction, the chief executive officer directly owned 266,467 shares of the company’s stock, valued at $2,731,286.75. The trade was a 4.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

OLO Price Performance

OLO opened at $10.26 on Wednesday. The business has a 50 day simple moving average of $10.20 and a two-hundred day simple moving average of $8.35. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 146.57 and a beta of 1.58. Olo Inc. has a one year low of $4.56 and a one year high of $10.55.

OLO (NYSE:OLO) last released its quarterly earnings results on Monday, August 4th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The business had revenue of $85.72 million for the quarter, compared to the consensus estimate of $82.23 million. OLO had a negative net margin of 0.28% and a positive return on equity of 2.13%. The company’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.05 EPS. As a group, sell-side analysts expect that Olo Inc. will post -0.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

OLO has been the subject of a number of recent analyst reports. Piper Sandler upped their price target on OLO from $8.00 to $10.25 and gave the company a “neutral” rating in a research report on Monday, July 7th. Wall Street Zen lowered OLO from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $10.25 target price on shares of OLO in a research report on Monday, July 7th. Lake Street Capital lowered OLO from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. Finally, Truist Financial lowered OLO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 8th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $10.17.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in OLO. Northern Trust Corp raised its position in shares of OLO by 8.0% in the 4th quarter. Northern Trust Corp now owns 1,016,295 shares of the company’s stock worth $7,805,000 after acquiring an additional 75,307 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of OLO by 2.0% in the 4th quarter. Ameriprise Financial Inc. now owns 672,841 shares of the company’s stock worth $5,167,000 after buying an additional 13,387 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of OLO in the 4th quarter worth approximately $3,320,000. Balyasny Asset Management L.P. grew its stake in shares of OLO by 67.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 138,770 shares of the company’s stock worth $1,066,000 after buying an additional 56,073 shares during the last quarter. Finally, Brevan Howard Capital Management LP grew its stake in shares of OLO by 45.4% in the 4th quarter. Brevan Howard Capital Management LP now owns 33,444 shares of the company’s stock worth $257,000 after buying an additional 10,442 shares during the last quarter. Institutional investors own 93.40% of the company’s stock.

About OLO

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.