Laurus Global Equity Management Inc. Takes $424,000 Position in Olo Inc. (NYSE:OLO)

Laurus Global Equity Management Inc. bought a new stake in Olo Inc. (NYSE:OLO - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 70,230 shares of the company's stock, valued at approximately $424,000.

Several other large investors also recently made changes to their positions in the company. SMI Advisory Services LLC acquired a new position in OLO during the 1st quarter valued at about $62,000. Calamos Advisors LLC acquired a new position in OLO during the 1st quarter valued at about $63,000. Envestnet Asset Management Inc. acquired a new position in OLO during the 4th quarter valued at about $80,000. Franklin Resources Inc. acquired a new position in OLO during the 4th quarter valued at about $81,000. Finally, TFJ Management LLC acquired a new position in OLO during the 4th quarter valued at about $107,000. 93.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Noah H. Glass sold 10,152 shares of OLO stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $8.80, for a total value of $89,337.60. Following the sale, the chief executive officer owned 278,202 shares of the company's stock, valued at approximately $2,448,177.60. The trade was a 3.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Peter J. Benevides sold 23,078 shares of OLO stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $8.80, for a total transaction of $203,086.40. Following the completion of the sale, the chief financial officer directly owned 702,061 shares in the company, valued at $6,178,136.80. This trade represents a 3.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 98,630 shares of company stock worth $864,454 in the last three months. Insiders own 39.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on OLO. Wall Street Zen downgraded OLO from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $10.25 price target on shares of OLO in a research note on Monday, July 7th. Truist Financial cut shares of OLO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Lake Street Capital cut shares of OLO from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Finally, Piper Sandler lifted their target price on shares of OLO from $8.00 to $10.25 and gave the stock a "neutral" rating in a research report on Monday, July 7th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $10.17.

OLO Stock Down 0.2%

OLO stock opened at $10.12 on Friday. Olo Inc. has a 52 week low of $4.45 and a 52 week high of $10.15. The company's 50 day moving average price is $8.89 and its two-hundred day moving average price is $7.54. The stock has a market cap of $1.68 billion, a P/E ratio of 506.25 and a beta of 1.57.

OLO (NYSE:OLO - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.06 by $0.01. The firm had revenue of $80.68 million for the quarter, compared to analysts' expectations of $77.47 million. OLO had a net margin of 1.09% and a return on equity of 1.46%. The company's quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.05 EPS. On average, equities analysts anticipate that Olo Inc. will post -0.03 EPS for the current year.

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.

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