Olo Inc. (NYSE:OLO) CFO Sells $51,940.29 in Stock

Posted by on Sep 11th, 2023

Olo Inc. (NYSE:OLO – Get Free Report) CFO Peter J. Benevides sold 8,391 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $6.19, for a total value of $51,940.29. Following the completion of the transaction, the chief financial officer now directly owns 365,690 shares of the company’s stock, valued at approximately $2,263,621.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

OLO Trading Down 0.3 %

OLO stock opened at $6.14 on Monday. The stock has a 50-day moving average price of $6.71 and a two-hundred day moving average price of $7.12. The stock has a market cap of $1.00 billion, a PE ratio of -18.61 and a beta of 1.24. Olo Inc. has a 1 year low of $5.74 and a 1 year high of $9.55.

OLO (NYSE:OLO – Get Free Report) last announced its quarterly earnings data on Tuesday, August 1st. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. OLO had a negative return on equity of 4.19% and a negative net margin of 26.19%. The company had revenue of $55.25 million during the quarter, compared to analysts’ expectations of $53.22 million. On average, analysts forecast that Olo Inc. will post -0.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on OLO shares. BTIG Research started coverage on OLO in a report on Thursday, June 15th. They issued a “neutral” rating for the company. Piper Sandler upped their price target on OLO from $9.00 to $10.00 and gave the company an “overweight” rating in a research report on Wednesday, August 2nd. JPMorgan Chase & Co. upped their price objective on shares of OLO from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 2nd. StockNews.com started coverage on shares of OLO in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Royal Bank of Canada upped their price objective on shares of OLO from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $10.42.

Check Out Our Latest Analysis on OLO

Institutional Trading of OLO

Hedge funds have recently made changes to their positions in the business. Advisor Group Holdings Inc. lifted its stake in shares of OLO by 43.6% during the 1st quarter. Advisor Group Holdings Inc. now owns 13,657 shares of the company’s stock worth $182,000 after buying an additional 4,144 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in OLO by 50.1% during the 1st quarter. JPMorgan Chase & Co. now owns 499,588 shares of the company’s stock worth $6,619,000 after purchasing an additional 166,839 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in OLO by 2,469.3% during the 1st quarter. Bank of New York Mellon Corp now owns 713,763 shares of the company’s stock worth $9,458,000 after purchasing an additional 685,983 shares during the last quarter. HighTower Advisors LLC lifted its holdings in OLO by 12.3% during the 1st quarter. HighTower Advisors LLC now owns 16,036 shares of the company’s stock worth $213,000 after purchasing an additional 1,758 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in OLO by 130.0% during the 1st quarter. Citigroup Inc. now owns 12,328 shares of the company’s stock worth $163,000 after purchasing an additional 6,969 shares during the last quarter. 81.79% of the stock is owned by institutional investors and hedge funds.

OLO Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for OLO (NYSE:OLO)

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