Olo Inc. (NYSE:OLO) COO Joanna G. Lambert Sells 38,614 Shares

Olo Inc. (NYSE:OLO) COO Joanna G. Lambert sold 38,614 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $8.80, for a total transaction of $339,803.20. Following the sale, the chief operating officer now directly owns 925,146 shares in the company, valued at $8,141,284.80. This represents a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

OLO Stock Performance

OLO opened at $8.77 on Tuesday. The company’s 50 day simple moving average is $7.50 and its 200 day simple moving average is $7.28. Olo Inc. has a 1 year low of $4.20 and a 1 year high of $9.78. The stock has a market capitalization of $1.46 billion, a PE ratio of -87.69 and a beta of 1.58.

OLO (NYSE:OLO) last released its 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. OLO had a negative net margin of 5.89% and a positive return on equity of 0.34%. The business had revenue of $80.68 million for the quarter, compared to analysts’ expectations of $77.47 million. During the same period last year, the company earned $0.05 earnings per share. The company’s quarterly revenue was up 21.3% on a year-over-year basis. As a group, sell-side analysts expect that Olo Inc. will post -0.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wall Street Zen cut shares of OLO from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Lake Street Capital raised their price target on shares of OLO from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, May 9th.

Institutional Investors Weigh In On OLO

Several hedge funds have recently modified their holdings of OLO. Arizona State Retirement System lifted its position in OLO by 5.1% during the fourth quarter. Arizona State Retirement System now owns 30,358 shares of the company’s stock valued at $233,000 after buying an additional 1,464 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in OLO by 3.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,482 shares of the company’s stock valued at $457,000 after buying an additional 1,740 shares in the last quarter. Invesco Ltd. lifted its position in OLO by 1.9% during the fourth quarter. Invesco Ltd. now owns 121,611 shares of the company’s stock valued at $934,000 after buying an additional 2,261 shares in the last quarter. State of Wyoming lifted its position in OLO by 6.6% during the first quarter. State of Wyoming now owns 42,286 shares of the company’s stock valued at $255,000 after buying an additional 2,612 shares in the last quarter. Finally, California State Teachers Retirement System lifted its position in OLO by 2.8% during the fourth quarter. California State Teachers Retirement System now owns 97,847 shares of the company’s stock valued at $751,000 after buying an additional 2,666 shares in the last quarter. 93.40% of the stock is owned by institutional investors and hedge funds.

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.