Olo Inc. (NYSE:OLO) CTO Andrew J. Murray Sells 25,000 Shares of Stock

Olo Inc. (NYSE:OLO) CTO Andrew J. Murray sold 25,000 shares of OLO stock in a transaction on Thursday, September 16th. The shares were sold at an average price of $33.52, for a total value of $838,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Shares of NYSE OLO opened at $33.08 on Tuesday. The stock has a fifty day moving average of $36.41. Olo Inc. has a 52-week low of $22.88 and a 52-week high of $49.00.

OLO (NYSE:OLO) last issued its earnings results on Tuesday, August 10th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.02. The company had revenue of $35.90 million during the quarter, compared to analyst estimates of $34.17 million. The business’s revenue was up 47.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.05 earnings per share. Analysts anticipate that Olo Inc. will post -0.06 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Raine Capital LLC purchased a new position in shares of OLO during the first quarter valued at $903,077,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of OLO by 7.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,353,004 shares of the company’s stock valued at $125,369,000 after buying an additional 223,621 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of OLO by 76.2% during the second quarter. Vanguard Group Inc. now owns 2,227,954 shares of the company’s stock valued at $83,304,000 after buying an additional 963,591 shares in the last quarter. Morgan Stanley purchased a new position in shares of OLO during the first quarter valued at $41,686,000. Finally, Ameriprise Financial Inc. purchased a new position in shares of OLO during the first quarter valued at $35,180,000. Institutional investors and hedge funds own 47.07% of the company’s stock.

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

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.

Featured Story: What is the Federal Reserve?

Receive News & Ratings for OLO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for OLO and related companies with MarketBeat.com's FREE daily email newsletter.