Noah H. Glass Sells 10,423 Shares of Olo Inc. (NYSE:OLO) Stock

Olo Inc. (NYSE:OLO) CEO Noah H. Glass sold 10,423 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 $51,072.70. Following the completion of the sale, the chief executive officer now directly owns 312,393 shares in the company, valued at approximately $1,530,725.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

OLO Stock Down 3.2 %

Shares of OLO opened at $4.75 on Wednesday. The company has a market capitalization of $761.65 million, a price-to-earnings ratio of -16.36 and a beta of 1.27. Olo Inc. has a 52-week low of $4.20 and a 52-week high of $6.84. The stock has a 50 day moving average price of $4.97 and a 200 day moving average price of $4.95.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on OLO. Lake Street Capital increased their price objective on shares of OLO from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Piper Sandler reissued an “overweight” rating and issued a $8.00 target price on shares of OLO in a report on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, OLO currently has an average rating of “Moderate Buy” and a consensus target price of $8.67.

Hedge Funds Weigh In On OLO

Several hedge funds have recently made changes to their positions in the company. Diversified Trust Co lifted its holdings in shares of OLO by 8.8% in the 1st quarter. Diversified Trust Co now owns 28,207 shares of the company’s stock valued at $155,000 after purchasing an additional 2,285 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in OLO by 6.1% in the second quarter. The Manufacturers Life Insurance Company now owns 42,023 shares of the company’s stock valued at $186,000 after buying an additional 2,433 shares during the last quarter. Victory Capital Management Inc. lifted its stake in OLO by 29.7% in the fourth quarter. Victory Capital Management Inc. now owns 14,056 shares of the company’s stock valued at $80,000 after buying an additional 3,219 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of OLO by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 39,636 shares of the company’s stock valued at $218,000 after acquiring an additional 3,340 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of OLO by 10.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 48,240 shares of the company’s stock worth $265,000 after acquiring an additional 4,382 shares during the last quarter. Hedge funds and other institutional investors own 93.40% of the company’s stock.

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.