Insider Selling: OLO (NYSE:OLO) CEO Sells 11,735 Shares of Stock

Olo Inc. (NYSE:OLO) CEO Noah Glass sold 11,735 shares of the stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $10.25, for a total value of $120,283.75. Following the transaction, the chief executive officer owned 266,467 shares of the company’s stock, valued at approximately $2,731,286.75. The trade was a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

OLO Stock Performance

Shares of OLO stock opened at $10.27 on Thursday. The firm has a market cap of $1.74 billion, a PE ratio of 28.51 and a beta of 1.58. The business’s 50 day simple moving average is $10.23 and its 200 day simple moving average is $8.36. Olo Inc. has a 52-week low of $4.56 and a 52-week high of $10.55.

OLO (NYSE:OLO) last issued its quarterly 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). OLO had a positive return on equity of 2.13% and a negative net margin of 0.28%.The business had revenue of $85.72 million for the quarter, compared to the consensus estimate of $82.23 million. During the same period in the prior year, the business earned $0.05 earnings per share. OLO’s revenue was up 21.6% compared to the same quarter last year. As a group, equities research analysts predict that Olo Inc. will post -0.03 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On OLO

Institutional investors and hedge funds have recently made changes to their positions in the company. Evergreen Capital Management LLC increased its stake in shares of OLO by 170.7% during the second quarter. Evergreen Capital Management LLC now owns 119,786 shares of the company’s stock worth $1,066,000 after purchasing an additional 75,536 shares during the period. Tower Research Capital LLC TRC grew its holdings in OLO by 182.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 19,965 shares of the company’s stock valued at $178,000 after buying an additional 12,891 shares in the last quarter. Corient Private Wealth LLC bought a new position in OLO during the 2nd quarter worth $92,000. Tidal Investments LLC acquired a new stake in shares of OLO during the second quarter worth $173,000. Finally, Lazard Asset Management LLC bought a new stake in shares of OLO in the second quarter valued at about $1,630,000. Institutional investors and hedge funds own 93.40% of the company’s stock.

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.