Olo Inc. (NYSE:OLO) Insider Sells $49,781.60 in Stock

Olo Inc. (NYSE:OLO) insider Sherri Manning sold 5,657 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $8.80, for a total transaction of $49,781.60. Following the completion of the sale, the insider now owns 297,926 shares of the company’s stock, valued at $2,621,748.80. This represents a 1.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

OLO Price Performance

OLO stock opened at $8.66 on Thursday. Olo Inc. has a 52-week low of $4.20 and a 52-week high of $9.78. The company has a 50-day moving average of $7.62 and a two-hundred day moving average of $7.29. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of -86.54 and a beta of 1.58.

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

Institutional Investors Weigh In On OLO

Hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in shares of OLO in the fourth quarter valued at about $2,346,000. Norges Bank bought a new stake in shares of OLO in the fourth quarter valued at about $5,181,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 valued at $457,000 after buying an additional 1,740 shares during the period. Moloney Securities Asset Management LLC bought a new stake in shares of OLO in the fourth quarter valued at about $407,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of OLO by 2.0% in the fourth quarter. Ameriprise Financial Inc. now owns 672,841 shares of the company’s stock valued at $5,167,000 after buying an additional 13,387 shares during the period. Institutional investors own 93.40% of the company’s stock.

Analyst Upgrades and Downgrades

OLO has been the subject of a number of recent research reports. Wall Street Zen cut shares of OLO from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Lake Street Capital upped their price target on shares of OLO from $9.00 to $10.00 and gave the company a “buy” rating in a report on Friday, May 9th.

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.