Insider Selling: Olo Inc. (NYSE:OLO) CRO Sells 13,555 Shares of Stock

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

OLO Stock Down 3.2 %

NYSE:OLO opened at $4.75 on Wednesday. The company’s 50 day moving average is $4.97 and its 200-day moving average is $4.95. Olo Inc. has a 12 month low of $4.20 and a 12 month high of $6.84. The firm has a market cap of $761.65 million, a price-to-earnings ratio of -16.36 and a beta of 1.27.

OLO (NYSE:OLO) last posted its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.05. The business had revenue of $70.50 million for the quarter, compared to analyst estimates of $67.79 million. OLO had a negative net margin of 9.36% and a negative return on equity of 0.47%. OLO’s revenue was up 27.6% compared to the same quarter last year. During the same period last year, the business posted ($0.04) EPS. Research analysts predict that Olo Inc. will post -0.06 EPS for the current fiscal year.

Hedge Funds Weigh In On OLO

A number of institutional investors have recently made changes to their positions in OLO. Federated Hermes Inc. boosted its stake in OLO by 644,200.0% during the 2nd 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. Benjamin F. Edwards & Company Inc. acquired a new position in shares of OLO during the first quarter valued at about $29,000. Rockport Wealth LLC acquired a new position in OLO in the 1st quarter valued at approximately $55,000. Wallace Advisory Group LLC acquired a new position in shares of OLO in the second quarter valued at $57,000. Finally, Point72 DIFC Ltd lifted its holdings in shares of OLO by 52.7% during the 2nd quarter. Point72 DIFC Ltd now owns 14,388 shares of the company’s stock worth $64,000 after acquiring an additional 4,964 shares during the period. 93.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Piper Sandler restated an “overweight” rating and set a $8.00 price target on shares of OLO in a report on Thursday, August 1st. Lake Street Capital raised their target price on OLO from $8.50 to $9.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.