Insider Selling: Olo Inc. (NYSE:OLO) Insider Sells 9,356 Shares of Stock

Olo Inc. (NYSE:OLO) insider Sherri Manning sold 9,356 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $4.90, for a total value of $45,844.40. Following the completion of the sale, the insider now owns 148,414 shares of the company’s stock, valued at approximately $727,228.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

OLO Stock Down 3.2 %

Shares of OLO stock traded down $0.16 on Tuesday, hitting $4.75. 529,890 shares of the company’s stock traded hands, compared to its average volume of 1,009,356. Olo Inc. has a 52-week low of $4.20 and a 52-week high of $6.84. The stock has a market cap of $761.65 million, a P/E ratio of -16.86 and a beta of 1.27. The firm’s 50-day moving average is $4.96 and its 200 day moving average is $4.96.

OLO (NYSE:OLO) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. The firm had revenue of $70.50 million for the quarter, compared to the consensus estimate of $67.79 million. OLO had a negative net margin of 9.36% and a negative return on equity of 0.47%. The firm’s revenue was up 27.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.04) EPS. Equities research analysts forecast that Olo Inc. will post -0.06 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on OLO shares. Lake Street Capital increased their price objective on shares of OLO from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Piper Sandler reissued an “overweight” rating and issued a $8.00 price objective on shares of OLO in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.67.

Institutional Investors Weigh In On OLO

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of OLO by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 12,739,568 shares of the company’s stock valued at $69,940,000 after buying an additional 319,544 shares during the period. Dimensional Fund Advisors LP lifted its holdings in OLO by 13.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,411,071 shares of the company’s stock worth $19,512,000 after acquiring an additional 416,851 shares during the last quarter. Renaissance Technologies LLC boosted its stake in OLO by 17.2% in the second quarter. Renaissance Technologies LLC now owns 1,170,500 shares of the company’s stock valued at $5,174,000 after acquiring an additional 171,700 shares during the period. Millennium Management LLC grew its holdings in shares of OLO by 24.3% during the second quarter. Millennium Management LLC now owns 996,486 shares of the company’s stock valued at $4,404,000 after purchasing an additional 194,735 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC raised its position in shares of OLO by 3.2% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 876,961 shares of the company’s stock worth $4,815,000 after purchasing an additional 26,919 shares during the period. 93.40% of the stock is owned by institutional investors and hedge funds.

OLO Company Profile

Olo Inc operates an open SaaS platform for restaurants in the United States. The company's platform enables on-demand digital commerce operations, which cover digital ordering, delivery, front-of-house management, and payments. Its solutions include Order, a suite of solutions powering restaurant brands' on-demand commerce operations, enabling digital ordering, delivery, and channel management through ordering, dispatch, rails, switchboard, network, virtual brands, kiosk, catering, and sync modules; Engage, a suite of restaurant-centric marketing solutions optimizing guest lifetime value by strengthening and enhancing the restaurants' direct guest relationships, through the guest data platform, marketing, sentiment, and host modules; and Pay, a frictionless payment platform that enables restaurants to grow and protect their digital business through customer payment experience that offers advanced fraud prevention to improve authorization rates for valid transactions, and increase basket conversion through its Olo Pay module.