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

Olo Inc. (NYSE:OLO - Get Free Report) CEO Noah H. Glass sold 10,152 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 value of $89,337.60. Following the transaction, the chief executive officer now directly owns 278,202 shares in the company, valued at approximately $2,448,177.60. This trade represents a 3.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

OLO Stock Performance

OLO stock traded down $0.15 during mid-day trading on Monday, reaching $8.77. 1,074,735 shares of the company were exchanged, compared to its average volume of 1,265,091. The firm's 50-day simple moving average is $7.45 and its two-hundred day simple moving average is $7.26. Olo Inc. has a twelve month low of $4.20 and a twelve month high of $9.78. The firm has a market cap of $1.46 billion, a PE ratio of -87.69 and a beta of 1.58.

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

Hedge Funds Weigh In On OLO

A number of large investors have recently made changes to their positions in the stock. Arizona State Retirement System boosted its holdings in OLO by 5.1% during the fourth quarter. Arizona State Retirement System now owns 30,358 shares of the company's stock worth $233,000 after buying an additional 1,464 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of OLO by 3.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,482 shares of the company's stock valued at $457,000 after acquiring an additional 1,740 shares during the period. Invesco Ltd. lifted its position in shares of OLO by 1.9% during the 4th quarter. Invesco Ltd. now owns 121,611 shares of the company's stock valued at $934,000 after acquiring an additional 2,261 shares during the period. State of Wyoming boosted its stake in shares of OLO by 6.6% during the 1st quarter. State of Wyoming now owns 42,286 shares of the company's stock worth $255,000 after acquiring an additional 2,612 shares in the last quarter. Finally, California State Teachers Retirement System grew its holdings in shares of OLO by 2.8% in the 4th quarter. California State Teachers Retirement System now owns 97,847 shares of the company's stock worth $751,000 after acquiring an additional 2,666 shares during the period. Hedge funds and other institutional investors own 93.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented 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 raised their price objective on shares of OLO from $9.00 to $10.00 and gave the stock a "buy" rating in a research report on Friday, May 9th.

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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