Peter J. Benevides Sells 23,078 Shares of Olo Inc. (NYSE:OLO) Stock

Olo Inc. (NYSE:OLO - Get Free Report) CFO Peter J. Benevides sold 23,078 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $8.80, for a total value of $203,086.40. Following the completion of the sale, the chief financial officer now directly owns 702,061 shares in the company, valued at approximately $6,178,136.80. The trade was a 3.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

OLO Stock Performance

Shares of OLO stock traded down $0.02 on Wednesday, reaching $8.66. The stock had a trading volume of 806,081 shares, compared to its average volume of 1,263,283. The stock has a market cap of $1.44 billion, a P/E ratio of -86.54 and a beta of 1.58. Olo Inc. has a 1 year low of $4.20 and a 1 year high of $9.78. The company has a 50 day simple moving average of $7.62 and a 200 day simple moving average of $7.29.

OLO (NYSE:OLO - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $77.47 million. During the same quarter last year, the firm posted $0.05 earnings per share. The firm's revenue was up 21.3% compared to the same quarter last year. On average, equities research analysts anticipate that Olo Inc. will post -0.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On OLO

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of OLO by 2.7% in the first quarter. Vanguard Group Inc. now owns 15,090,745 shares of the company's stock worth $91,148,000 after purchasing an additional 401,364 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in OLO by 6.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,491,755 shares of the company's stock worth $26,817,000 after buying an additional 206,538 shares during the period. Nuveen LLC purchased a new stake in OLO in the 1st quarter worth $15,330,000. Geode Capital Management LLC lifted its position 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 valued at $18,945,000 after acquiring an additional 21,484 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position 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 valued at $17,827,000 after acquiring an additional 757,617 shares in the last quarter. Hedge funds and other institutional investors own 93.40% of the company's stock.

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.