Noah H. Glass Sells 11,735 Shares of OLO (NYSE:OLO) 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 H. Glass sold 11,735 shares of the company's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $10.25, for a total transaction of $120,283.75. Following the completion of the sale, the chief executive officer directly owned 266,467 shares of the company's stock, valued at $2,731,286.75. The trade was a 4.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

OLO Price Performance

Shares of OLO remained flat at $10.26 during mid-day trading on Friday. The business has a 50-day moving average price of $10.23 and a two-hundred day moving average price of $8.42. Olo Inc. has a one year low of $4.56 and a one year high of $10.55. The stock has a market cap of $1.74 billion, a PE ratio of 146.57 and a beta of 1.58.

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

Hedge Funds Weigh In On OLO

Several hedge funds and other institutional investors have recently modified their holdings of the business. Cullen Frost Bankers Inc. raised its stake in OLO by 171.6% during the second quarter. Cullen Frost Bankers Inc. now owns 3,430 shares of the company's stock worth $31,000 after purchasing an additional 2,167 shares during the period. SMI Advisory Services LLC acquired a new stake in shares of OLO during the first quarter valued at about $62,000. Calamos Advisors LLC acquired a new stake in shares of OLO during the first quarter valued at about $63,000. Corton Capital Inc. acquired a new stake in shares of OLO during the first quarter valued at about $66,000. Finally, Entropy Technologies LP acquired a new stake in shares of OLO during the second quarter valued at about $92,000. 93.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

OLO has been the subject of several research reports. Wall Street Zen cut shares of OLO from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Lake Street Capital lowered shares of OLO from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 3rd. Piper Sandler increased their price objective on shares of OLO from $8.00 to $10.25 and gave the stock a "neutral" rating in a research note on Monday, July 7th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $10.25 price objective on shares of OLO in a research note on Monday, July 7th. Finally, Truist Financial lowered shares of OLO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 8th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price 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.