Insider Selling: OLO (NYSE:OLO) CEO Sells 11,735 Shares of Stock

Key Points

• Noah Glass, CEO of Olo Inc., sold 11,735 shares at an average price of $10.25, totaling approximately $120,283.75, reducing his ownership by 4.22% to 266,467 shares.
• Olo reported $0.07 earnings per share for the last quarter, falling short of analyst expectations of $0.08, despite revenues of $85.72 million, which exceeded predictions.
• Several institutional investors increased their stakes in Olo, with 93.40% of the shares currently owned by institutional investors, indicating strong support from the financial community.

Olo Inc. (NYSE:OLO - Get Free Report) CEO Noah Glass sold 11,735 shares of the business's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $10.25, for a total value of $120,283.75. Following the completion of the transaction, the chief executive officer directly owned 266,467 shares of the company's stock, valued at approximately $2,731,286.75. This trade represents a 4.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

OLO Trading Down 0.2%

NYSE:OLO traded down $0.02 during mid-day trading on Tuesday, reaching $10.26. The company's stock had a trading volume of 7,328,958 shares, compared to its average volume of 2,505,043. Olo Inc. has a 12-month low of $4.56 and a 12-month high of $10.55. The firm's fifty day moving average price is $10.17 and its two-hundred day moving average price is $8.34. The stock has a market cap of $1.74 billion, a P/E ratio of 146.57 and a beta of 1.58.

OLO (NYSE:OLO - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.01). The business had revenue of $85.72 million during the quarter, compared to analysts' expectations of $82.23 million. OLO had a positive return on equity of 2.13% and a negative net margin of 0.28%.OLO's quarterly revenue was up 21.6% compared to the same quarter last year. During the same period last year, the firm posted $0.05 EPS. Analysts predict that Olo Inc. will post -0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OLO. Nuveen LLC bought a new position in OLO in the 1st quarter worth approximately $15,330,000. Broadwood Capital Inc. boosted its stake in OLO by 112.2% in the 2nd quarter. Broadwood Capital Inc. now owns 3,782,821 shares of the company's stock worth $33,667,000 after purchasing an additional 2,000,487 shares during the period. Bank of New York Mellon Corp boosted its stake in OLO by 274.6% in the 1st quarter. Bank of New York Mellon Corp now owns 1,351,488 shares of the company's stock worth $8,163,000 after purchasing an additional 990,719 shares during the period. Next Century Growth Investors LLC boosted its stake in OLO by 227.4% in the 2nd quarter. Next Century Growth Investors LLC now owns 1,159,731 shares of the company's stock worth $10,322,000 after purchasing an additional 805,475 shares during the period. Finally, Two Sigma Advisers LP boosted its stake in OLO by 85.6% in the 4th quarter. Two Sigma Advisers LP now owns 1,655,500 shares of the company's stock worth $12,714,000 after purchasing an additional 763,400 shares during the period. 93.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OLO has been the subject of a number of recent research reports. Truist Financial downgraded OLO from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 8th. 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 restated a "sector perform" rating and set a $10.25 price target on shares of OLO in a research note on Monday, July 7th. Lake Street Capital downgraded OLO from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Finally, Piper Sandler boosted their price objective on OLO from $8.00 to $10.25 and gave the company a "neutral" rating in a research note on Monday, July 7th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, OLO presently has a consensus rating of "Hold" and a consensus price target of $10.17.

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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