Noah H. Glass Sells 10,152 Shares of Olo Inc. (NYSE:OLO) Stock

Olo Inc. (NYSE:OLO - Get Free Report) CEO Noah H. Glass sold 10,152 shares of the business's 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 $89,337.60. Following the sale, the chief executive officer now directly owns 278,202 shares in the company, valued at approximately $2,448,177.60. This represents a 3.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

OLO Stock Up 0.7%

Shares of OLO stock traded up $0.06 on Thursday, reaching $8.70. 906,740 shares of the stock were exchanged, compared to its average volume of 1,261,862. Olo Inc. has a twelve month low of $4.20 and a twelve month high of $9.78. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -86.99 and a beta of 1.58. The business has a 50 day moving average price of $7.62 and a two-hundred day moving average price of $7.29.

OLO (NYSE:OLO - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.01. OLO had a negative net margin of 5.89% and a positive return on equity of 0.34%. The company had revenue of $80.68 million during the quarter, compared to analyst estimates of $77.47 million. During the same period last year, the firm posted $0.05 EPS. OLO's revenue for the quarter was up 21.3% compared to the same quarter last year. Research analysts forecast that Olo Inc. will post -0.03 EPS for the current year.

Institutional Trading of OLO

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SCS Capital Management LLC acquired a new position in OLO during the first quarter valued at $146,000. Caxton Associates LLP purchased a new position in shares of OLO during the 1st quarter valued at about $363,000. Dynamic Technology Lab Private Ltd raised its stake in shares of OLO by 13.2% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,071 shares of the company's stock valued at $151,000 after buying an additional 2,922 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of OLO by 6.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 63,148 shares of the company's stock valued at $381,000 after buying an additional 3,666 shares during the period. Finally, Broadwood Capital Inc. purchased a new stake in shares of OLO in the first quarter worth about $10,765,000. Institutional investors and hedge funds own 93.40% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wall Street Zen cut shares of OLO from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Lake Street Capital upped their target price on OLO from $9.00 to $10.00 and gave the company a "buy" rating in a research report on Friday, May 9th.

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.