Diego Panama Sells 13,555 Shares of Olo Inc. (NYSE:OLO) Stock

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

OLO Trading Down 0.9 %

Shares of OLO opened at $4.70 on Thursday. The business’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 company has a market capitalization of $753.63 million, a PE ratio of -16.19 and a beta of 1.27.

OLO (NYSE:OLO) last released its quarterly earnings data 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 firm had revenue of $70.50 million for the quarter, compared to analysts’ expectations of $67.79 million. During the same quarter last year, the business posted ($0.04) earnings per share. The company’s revenue for the quarter was up 27.6% compared to the same quarter last year. Equities research analysts predict that Olo Inc. will post -0.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

OLO has been the subject of a number of recent research reports. Lake Street Capital boosted their price objective on OLO from $8.50 to $9.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and issued a $8.00 price target on shares of OLO in a research report on Thursday, August 1st. Finally, StockNews.com upgraded shares of OLO from a “hold” rating to a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $8.67.

Institutional Trading of OLO

Hedge funds have recently bought and sold shares of the stock. Wallace Advisory Group LLC purchased a new position in shares of OLO in the second quarter valued at $57,000. Clearline Capital LP grew its holdings in OLO by 325.8% during the 2nd quarter. Clearline Capital LP now owns 169,737 shares of the company’s stock valued at $750,000 after purchasing an additional 129,874 shares during the last quarter. Algert Global LLC raised its holdings in shares of OLO by 114.0% in the second quarter. Algert Global LLC now owns 710,319 shares of the company’s stock worth $3,140,000 after buying an additional 378,368 shares during the period. Susquehanna Fundamental Investments LLC increased its stake in OLO by 7.3% in the second quarter. Susquehanna Fundamental Investments LLC now owns 202,798 shares of the company’s stock worth $896,000 after purchasing an additional 13,747 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in OLO by 6.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 42,023 shares of the company’s stock worth $186,000 after buying an additional 2,433 shares during the period. Hedge funds and other institutional investors own 93.40% of the company’s stock.

About OLO

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.