Olo Inc. (NYSE:OLO) CFO Sells $298,530.00 in Stock

Olo Inc. (NYSE:OLO) CFO Peter J. Benevides sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 14th. The shares were sold at an average price of $33.17, for a total value of $298,530.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of NYSE OLO traded up $1.17 during midday trading on Thursday, hitting $34.23. 1,174,810 shares of the stock traded hands, compared to its average volume of 707,990. Olo Inc. has a one year low of $22.88 and a one year high of $49.00. The company’s 50 day moving average is $36.47.

OLO (NYSE:OLO) last announced its quarterly earnings results on Tuesday, August 10th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The company had revenue of $35.90 million for the quarter, compared to the consensus estimate of $34.17 million. During the same quarter last year, the company posted $0.05 EPS. The company’s quarterly revenue was up 47.7% compared to the same quarter last year. On average, equities analysts expect that Olo Inc. will post -0.06 EPS for the current year.

Several equities analysts have issued reports on OLO shares. Piper Sandler boosted their price target on OLO from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Wednesday, August 11th. Stifel Nicolaus raised OLO from a “hold” rating to a “buy” rating and boosted their price target for the company from $27.00 to $41.00 in a research note on Wednesday, August 11th. Finally, Royal Bank of Canada boosted their price objective on OLO from $35.00 to $38.00 and gave the company an “outperform” rating in a report on Monday, August 9th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $36.00.

A number of large investors have recently made changes to their positions in the business. Millennium Management LLC purchased a new stake in OLO during the 1st quarter worth about $5,798,000. Caas Capital Management LP bought a new position in OLO in the 1st quarter worth about $3,299,000. Zevenbergen Capital Investments LLC bought a new position in OLO in the 1st quarter worth about $4,122,000. UBS Group AG bought a new position in OLO in the 1st quarter worth about $1,103,000. Finally, Pentwater Capital Management LP bought a new position in OLO in the 1st quarter worth about $794,000. Hedge funds and other institutional investors own 47.07% of the company’s stock.

About OLO

Olo Inc provides software-as-a-service platform for multi-location restaurants in the United States. The company's platform enables on-demand commerce operations, which cover digital ordering and delivery through online and mobile ordering modules. Its modules include Ordering, an on-demand commerce solution that enables consumers to order directly from and pay restaurants via mobile, web, kiosk, voice, and other digital channels; Dispatch, a fulfillment solution, which enables restaurants to offer, manage, and expand direct delivery; and Rails, an aggregator and channel management solution, which allows restaurants to control and syndicate menu, pricing, location data, and availability.

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