Olo Inc. (NYSE:OLO) CFO Sells $203,086.40 in Stock

Olo Inc. (NYSE:OLO) CFO Peter J. Benevides sold 23,078 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $8.80, for a total value of $203,086.40. Following the sale, the chief financial officer now directly owns 702,061 shares of the company’s stock, valued at $6,178,136.80. This represents a 3.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

OLO Trading Down 0.2%

OLO opened at $8.66 on Thursday. The company’s 50 day moving average is $7.62 and its 200-day moving average is $7.29. The company has a market cap of $1.44 billion, a P/E ratio of -86.54 and a beta of 1.58. Olo Inc. has a 1-year low of $4.20 and a 1-year high of $9.78.

OLO (NYSE:OLO) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $80.68 million during the quarter, compared to the consensus estimate of $77.47 million. OLO had a positive return on equity of 0.34% and a negative net margin of 5.89%. The firm’s revenue was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.05 earnings per share. On average, equities analysts forecast that Olo Inc. will post -0.03 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC bought a new position in OLO during the fourth quarter worth $27,000. SBI Securities Co. Ltd. bought a new position in shares of OLO in the fourth quarter valued at approximately $35,000. Envestnet Asset Management Inc. bought a new position in OLO during the 4th quarter valued at $80,000. Calamos Advisors LLC purchased a new position in OLO during the first quarter worth about $63,000. Finally, SMI Advisory Services LLC purchased a new position in shares of OLO in the 1st quarter worth approximately $62,000. 93.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.