OLO (NYSE:OLO) Insider Sells $110,044.00 in Stock

Olo Inc. (NYSE:OLO) insider Robert Morvillo sold 10,736 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $10.25, for a total transaction of $110,044.00. Following the transaction, the insider owned 375,780 shares of the company’s stock, valued at $3,851,745. This trade represents a 2.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

OLO Price Performance

NYSE:OLO opened at $10.27 on Thursday. Olo Inc. has a 12 month low of $4.56 and a 12 month high of $10.55. The firm has a market capitalization of $1.74 billion, a PE ratio of 28.51 and a beta of 1.58. The business’s fifty day moving average price is $10.23 and its 200 day moving average price is $8.36.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on OLO shares. Wall Street Zen downgraded OLO from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $10.25 target price on shares of OLO in a research note on Monday, July 7th. Truist Financial downgraded shares of OLO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 8th. Piper Sandler raised their price objective on shares of OLO from $8.00 to $10.25 and gave the company a “neutral” rating in a research report on Monday, July 7th. Finally, Lake Street Capital cut OLO from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 3rd. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $10.17.

Institutional Trading of OLO

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. boosted its holdings in OLO by 15.6% in the second quarter. Ameritas Investment Partners Inc. now owns 11,791 shares of the company’s stock valued at $105,000 after purchasing an additional 1,587 shares during the last quarter. CWM LLC raised its position in shares of OLO by 15.4% in the 2nd quarter. CWM LLC now owns 11,907 shares of the company’s stock valued at $106,000 after purchasing an additional 1,591 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of OLO by 6.2% during the 2nd quarter. Cerity Partners LLC now owns 27,912 shares of the company’s stock valued at $248,000 after buying an additional 1,626 shares during the last quarter. Savant Capital LLC grew its position in shares of OLO by 5.0% during the second quarter. Savant Capital LLC now owns 35,338 shares of the company’s stock worth $315,000 after buying an additional 1,694 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of OLO by 3.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,482 shares of the company’s stock worth $457,000 after buying an additional 1,740 shares during the last quarter. 93.40% of the stock is owned by hedge funds and other institutional investors.

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.