OLO (NYSE:OLO) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of OLO (NYSE:OLO) from a buy rating to a hold rating in a report issued on Friday morning.

A number of other equities analysts also recently commented on OLO. Piper Sandler reissued an “overweight” rating and set a $8.00 price objective on shares of OLO in a research report on Thursday, August 1st. Lake Street Capital lifted their price target on shares of OLO from $8.50 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st.

OLO Trading Up 2.4 %

NYSE:OLO opened at $7.17 on Friday. OLO has a 12-month low of $4.20 and a 12-month high of $7.26. The stock has a fifty day moving average price of $5.32 and a 200 day moving average price of $4.97.

Insider Transactions at OLO

In related news, CRO Diego Panama sold 13,555 shares of OLO stock in a transaction on Friday, September 6th. The shares were sold at an average price of $4.90, for a total transaction of $66,419.50. Following the sale, the executive now directly owns 569,859 shares in the company, valued at $2,792,309.10. This trade represents a 2.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sherri Manning sold 9,356 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $4.90, for a total transaction of $45,844.40. Following the transaction, the insider now directly owns 148,414 shares in the company, valued at $727,228.60. The trade was a 5.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,148 shares of company stock valued at $554,425. 39.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On OLO

Institutional investors and hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. increased its position in OLO by 644,200.0% in the 2nd quarter. Federated Hermes Inc. now owns 6,443 shares of the company’s stock valued at $28,000 after acquiring an additional 6,442 shares during the period. Wallace Advisory Group LLC acquired a new position in shares of OLO in the second quarter valued at approximately $57,000. Point72 DIFC Ltd increased its holdings in shares of OLO by 52.7% in the second quarter. Point72 DIFC Ltd now owns 14,388 shares of the company’s stock valued at $64,000 after purchasing an additional 4,964 shares during the period. SPC Financial Inc. purchased a new stake in shares of OLO during the third quarter worth approximately $65,000. Finally, Point72 Asset Management L.P. acquired a new stake in shares of OLO during the third quarter worth $74,000. 93.40% of the stock is owned by hedge funds and other institutional investors.

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.