Noah H. Glass Sells 10,155 Shares of Olo Inc. (NYSE:OLO) Stock

Olo Inc. (NYSE:OLO) CEO Noah H. Glass sold 10,155 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $4.52, for a total value of $45,900.60. Following the completion of the transaction, the chief executive officer now directly owns 322,816 shares of the company’s stock, valued at $1,459,128.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

OLO Stock Performance

Shares of OLO stock opened at $4.42 on Wednesday. Olo Inc. has a 52-week low of $4.25 and a 52-week high of $8.84. The company has a market capitalization of $709.50 million, a PE ratio of -15.24 and a beta of 1.27. The business’s fifty day moving average is $4.78 and its 200 day moving average is $5.26.

OLO (NYSE:OLO) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. OLO had a negative return on equity of 1.56% and a negative net margin of 19.35%. The company had revenue of $66.51 million for the quarter, compared to the consensus estimate of $64.22 million. During the same quarter last year, the business posted ($0.06) earnings per share. The firm’s revenue was up 27.3% compared to the same quarter last year. On average, sell-side analysts forecast that Olo Inc. will post -0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On OLO

A number of institutional investors and hedge funds have recently made changes to their positions in OLO. Benjamin F. Edwards & Company Inc. purchased a new stake in OLO during the first quarter valued at about $29,000. Rockport Wealth LLC purchased a new stake in OLO during the first quarter valued at about $55,000. Sherbrooke Park Advisers LLC purchased a new stake in OLO during the third quarter valued at about $82,000. Victory Capital Management Inc. raised its position in OLO by 29.7% during the fourth quarter. Victory Capital Management Inc. now owns 14,056 shares of the company’s stock valued at $80,000 after purchasing an additional 3,219 shares in the last quarter. Finally, MQS Management LLC purchased a new stake in OLO during the third quarter valued at about $86,000. Hedge funds and other institutional investors own 93.40% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Piper Sandler raised their price target on OLO from $7.00 to $8.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.10.

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.