Insider Selling: Olo Inc. (NYSE:OLO) Insider Sells 5,657 Shares of Stock

Olo Inc. (NYSE:OLO) insider Sherri Manning sold 5,657 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $8.80, for a total value of $49,781.60. Following the sale, the insider now owns 297,926 shares in the company, valued at approximately $2,621,748.80. The trade was a 1.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

OLO Stock Performance

Shares of NYSE:OLO opened at $8.69 on Wednesday. The business’s 50 day simple moving average is $7.56 and its two-hundred day simple moving average is $7.29. The firm has a market cap of $1.44 billion, a P/E ratio of -86.84 and a beta of 1.58. Olo Inc. has a 52-week low of $4.20 and a 52-week high of $9.78.

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

Analyst Ratings Changes

Several equities research analysts recently commented on OLO shares. Wall Street Zen lowered OLO from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Lake Street Capital increased their price target on OLO from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, May 9th.

Institutional Trading of OLO

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of OLO by 2.7% in the first quarter. Vanguard Group Inc. now owns 15,090,745 shares of the company’s stock worth $91,148,000 after purchasing an additional 401,364 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of OLO by 6.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,491,755 shares of the company’s stock worth $26,817,000 after purchasing an additional 206,538 shares during the last quarter. Nuveen LLC purchased a new stake in shares of OLO in the first quarter worth approximately $15,330,000. Geode Capital Management LLC raised its stake in shares of OLO by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 2,466,289 shares of the company’s stock worth $18,945,000 after purchasing an additional 21,484 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of OLO by 48.5% in the fourth quarter. Nuveen Asset Management LLC now owns 2,321,232 shares of the company’s stock worth $17,827,000 after purchasing an additional 757,617 shares during the last quarter. 93.40% of the stock is owned by hedge funds and other institutional investors.

OLO Company Profile

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.