Olo Inc. (NYSE:OLO) Director Daniel Harris Meyer Sells 6,000 Shares

Key Points

• Olo Inc. Director Daniel Harris Meyer sold 6,000 shares at an average price of $10.20, totaling $61,200, which decreased his ownership by 4.57% to 125,324 shares.
• Despite the sale, OLO shares remained unchanged at $10.20 after trading volumes surpassed the average, with a recent twelve-month high of $10.55.
• Olo's quarterly earnings report showed a miss of 0.01 in earnings per share, but revenue increased by 21.6% year-over-year, totaling $85.72 million.

Olo Inc. (NYSE:OLO - Get Free Report) Director Daniel Harris Meyer sold 6,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $10.20, for a total value of $61,200.00. Following the completion of the sale, the director owned 125,324 shares of the company's stock, valued at approximately $1,278,304.80. This trade represents a 4.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

OLO Stock Down 0.0%

Shares of OLO stock traded down $0.01 on Thursday, reaching $10.20. 3,960,629 shares of the stock were exchanged, compared to its average volume of 2,364,353. Olo Inc. has a twelve month low of $4.56 and a twelve month high of $10.55. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 145.71 and a beta of 1.58. The business has a 50 day moving average price of $9.60 and a two-hundred day moving average price of $7.95.

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). The company had revenue of $85.72 million for the quarter, compared to analysts' expectations of $82.23 million. OLO had a negative net margin of 0.28% and a positive return on equity of 2.13%. The firm's revenue was up 21.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.05 earnings per share. Research analysts forecast that Olo Inc. will post -0.03 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Piper Sandler increased their price target on OLO from $8.00 to $10.25 and gave the company 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 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 report on Thursday, July 3rd. Wall Street Zen downgraded OLO from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Truist Financial downgraded OLO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 8th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, OLO currently has a consensus rating of "Hold" and a consensus price target of $10.17.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of OLO. Vanguard Group Inc. increased its position 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 valued at $91,148,000 after buying an additional 401,364 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of OLO by 6.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,491,755 shares of the company's stock valued at $26,817,000 after buying an additional 206,538 shares in the last quarter. Geode Capital Management LLC increased its position in shares of OLO by 6.4% in the second quarter. Geode Capital Management LLC now owns 2,716,409 shares of the company's stock valued at $24,180,000 after buying an additional 163,992 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of OLO by 21.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,579,755 shares of the company's stock valued at $22,960,000 after buying an additional 459,044 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of OLO in the first quarter valued at approximately $15,330,000. 93.40% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.