Olo Inc. (NYSE:OLO) CFO Peter J. Benevides Sells 23,078 Shares

Olo Inc. (NYSE:OLO) CFO Peter J. Benevides sold 23,078 shares of the business’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $8.80, for a total transaction of $203,086.40. Following the transaction, the chief financial officer now owns 702,061 shares in the company, valued at $6,178,136.80. This represents a 3.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

OLO Trading Down 1.7%

OLO opened at $8.77 on Tuesday. Olo Inc. has a 1-year low of $4.20 and a 1-year high of $9.78. The stock’s fifty day simple moving average is $7.50 and its 200 day simple moving average is $7.28. The stock has a market cap of $1.46 billion, a PE ratio of -87.69 and a beta of 1.58.

OLO (NYSE:OLO) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. OLO had a positive return on equity of 0.34% and a negative net margin of 5.89%. The business had revenue of $80.68 million for the quarter, compared to analysts’ expectations of $77.47 million. During the same quarter in the prior year, the business earned $0.05 EPS. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. Equities analysts forecast that Olo Inc. will post -0.03 earnings per share for the current year.

Institutional Investors Weigh In On OLO

A number of large investors have recently added to or reduced their stakes in the business. SCS Capital Management LLC bought a new stake in OLO in the 1st quarter valued at $146,000. Caxton Associates LLP bought a new stake in OLO in the 1st quarter valued at $363,000. Dynamic Technology Lab Private Ltd raised its stake in OLO by 13.2% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,071 shares of the company’s stock valued at $151,000 after acquiring an additional 2,922 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in OLO by 6.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 63,148 shares of the company’s stock valued at $381,000 after acquiring an additional 3,666 shares during the period. Finally, Broadwood Capital Inc. bought a new stake in OLO in the 1st quarter valued at $10,765,000. Institutional investors own 93.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on OLO shares. Wall Street Zen cut OLO from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Lake Street Capital upped their price objective on OLO from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, May 9th.

About OLO

Olo, Inc engages in the provision of a cloud-based, on-demand commerce platform for multi-location restaurant brands. It enables digital ordering and delivery. The company was founded by Noah H. Glass on June 1, 2005 and is headquartered in New York, NY.