Joanna G. Lambert Sells 67,403 Shares of Olo Inc. (NYSE:OLO) Stock

Olo Inc. (NYSE:OLO) COO Joanna G. Lambert sold 67,403 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $4.90, for a total value of $330,274.70. Following the sale, the chief operating officer now directly owns 591,646 shares of the company’s stock, valued at $2,899,065.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

OLO Stock Down 0.9 %

Shares of OLO opened at $4.70 on Thursday. The company has a market cap of $753.63 million, a P/E ratio of -16.19 and a beta of 1.27. Olo Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $6.84. The firm’s 50 day moving average price is $4.97 and its 200 day moving average price is $4.95.

OLO (NYSE:OLO) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, hitting 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 return on equity of 0.47% and a negative net margin of 9.36%. The company’s revenue was up 27.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.04) earnings per share. Research analysts forecast that Olo Inc. will post -0.06 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $8.00 target price on shares of OLO in a research note on Thursday, August 1st. StockNews.com raised shares of OLO from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Lake Street Capital boosted their target price on OLO from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $8.67.

Hedge Funds Weigh In On OLO

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of OLO during the first quarter worth approximately $29,000. Federated Hermes Inc. increased its position in shares of OLO by 644,200.0% in 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 last quarter. Rockport Wealth LLC acquired a new stake in shares of OLO in the 1st quarter valued at $55,000. Wallace Advisory Group LLC purchased a new stake in shares of OLO during the 2nd quarter worth $57,000. Finally, Victory Capital Management Inc. grew its stake in shares of OLO by 29.7% during the fourth quarter. Victory Capital Management Inc. now owns 14,056 shares of the company’s stock worth $80,000 after purchasing an additional 3,219 shares in the last quarter. 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.