Olo Inc. (NYSE:OLO) Shares Sold by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC trimmed its position in shares of Olo Inc. (NYSE:OLO - Free Report) by 14.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 265,885 shares of the company's stock after selling 43,385 shares during the period. Conestoga Capital Advisors LLC owned 0.16% of OLO worth $1,606,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in OLO by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 14,689,381 shares of the company's stock worth $112,814,000 after buying an additional 415,868 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in OLO by 6.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,491,755 shares of the company's stock worth $26,817,000 after acquiring an additional 206,538 shares during the period. Geode Capital Management LLC grew 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 in the last quarter. Nuveen Asset Management LLC grew 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 in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of OLO by 44.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,032,634 shares of the company's stock valued at $15,611,000 after purchasing an additional 622,106 shares during the period. 93.40% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other OLO news, insider Robert Morvillo sold 10,129 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 transaction of $89,135.20. Following the completion of the sale, the insider now directly owns 386,516 shares of the company's stock, valued at approximately $3,401,340.80. This represents a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Noah H. Glass sold 10,152 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $8.80, for a total transaction of $89,337.60. Following the sale, the chief executive officer now owns 278,202 shares in the company, valued at $2,448,177.60. This represents a 3.52% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 87,630 shares of company stock worth $771,144. 39.33% of the stock is owned by insiders.

OLO Stock Up 1.8%

Shares of OLO stock opened at $8.63 on Tuesday. The stock has a 50-day simple moving average of $7.78 and a 200 day simple moving average of $7.33. Olo Inc. has a fifty-two week low of $4.20 and a fifty-two week high of $9.78. The stock has a market capitalization of $1.43 billion, a P/E ratio of -86.24 and a beta of 1.58.

OLO (NYSE:OLO - Get Free Report) last issued 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. The company had revenue of $80.68 million during the quarter, compared to the consensus estimate of $77.47 million. OLO had a negative net margin of 5.89% and a positive return on equity of 0.34%. OLO's revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.05 EPS. On average, sell-side analysts anticipate that Olo Inc. will post -0.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Lake Street Capital upped their price objective on shares of OLO from $9.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Wall Street Zen lowered shares of OLO from a "buy" rating to a "hold" rating in a research note on Friday, May 30th.

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.

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