Insider Selling: Olo Inc. (NYSE:OLO) General Counsel Sells $27,410.20 in Stock

Olo Inc. (NYSE:OLO – Get Free Report) General Counsel Robert Morvillo sold 4,421 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $6.20, for a total value of $27,410.20. Following the completion of the sale, the general counsel now owns 78,638 shares of the company’s stock, valued at $487,555.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

OLO Price Performance

NYSE OLO opened at $6.14 on Monday. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of -18.61 and a beta of 1.24. The company has a fifty day moving average price of $6.71 and a 200-day moving average price of $7.12. Olo Inc. has a 1 year low of $5.74 and a 1 year high of $9.55.

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OLO (NYSE:OLO – Get Free Report) last issued its earnings results on Tuesday, August 1st. The company reported ($0.04) EPS for the quarter, topping 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 business had revenue of $55.25 million during the quarter, compared to the consensus estimate of $53.22 million. On average, research analysts anticipate that Olo Inc. will post -0.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Read Our Latest Stock Report on OLO

Institutional Trading of OLO

A number of hedge funds have recently made changes to their positions in OLO. Blair William & Co. IL lifted its position in OLO by 1.2% in the 4th quarter. Blair William & Co. IL now owns 101,379 shares of the company’s stock worth $634,000 after buying an additional 1,251 shares during the last quarter. Principal Financial Group Inc. lifted its position in OLO by 14.0% in the 2nd quarter. Principal Financial Group Inc. now owns 11,691 shares of the company’s stock worth $76,000 after buying an additional 1,439 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in OLO by 10.2% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 15,780 shares of the company’s stock worth $99,000 after buying an additional 1,460 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in OLO by 4.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 35,655 shares of the company’s stock worth $291,000 after purchasing an additional 1,554 shares during the last quarter. Finally, State of Wyoming lifted its stake in OLO by 41.7% in the fourth quarter. State of Wyoming now owns 5,317 shares of the company’s stock worth $33,000 after purchasing an additional 1,566 shares during the last quarter. 81.79% of the stock is owned by institutional investors.

About OLO

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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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