Olo Inc. (NYSE:OLO) CRO Sells $66,419.50 in Stock

Olo Inc. (NYSE:OLO) CRO Diego Panama sold 13,555 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $4.90, for a total value of $66,419.50. Following the transaction, the executive now owns 569,859 shares of the company’s stock, valued at $2,792,309.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

OLO Trading Up 0.7 %

OLO stock opened at $4.73 on Friday. Olo Inc. has a twelve month low of $4.20 and a twelve month high of $6.84. The firm’s fifty day simple moving average is $4.98 and its two-hundred day simple moving average is $4.95.

OLO (NYSE:OLO) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. The company 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. Analysts anticipate that Olo Inc. will post -0.06 EPS for the current year.

Institutional Investors Weigh In On OLO

Several hedge funds and other institutional investors have recently modified their holdings of OLO. Benjamin F. Edwards & Company Inc. bought a new position in OLO in the 1st quarter valued at $29,000. Federated Hermes Inc. boosted its stake in shares of OLO by 644,200.0% during the second quarter. Federated Hermes Inc. now owns 6,443 shares of the company’s stock valued at $28,000 after purchasing an additional 6,442 shares during the period. Rockport Wealth LLC bought a new position in shares of OLO in the first quarter worth about $55,000. Wallace Advisory Group LLC bought a new position in shares of OLO in the second quarter worth about $57,000. Finally, Victory Capital Management Inc. increased its stake in OLO by 29.7% in the 4th quarter. Victory Capital Management Inc. now owns 14,056 shares of the company’s stock worth $80,000 after buying an additional 3,219 shares during the period. 93.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on OLO. Piper Sandler reiterated 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 increased their price target on shares of OLO from $8.50 to $9.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, StockNews.com raised OLO from a “hold” rating to a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, OLO currently has an average rating of “Moderate Buy” and an average price target of $8.67.

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.