Olo Inc. (NYSE:OLO) Insider Robert Morvillo Sells 10,129 Shares

Olo Inc. (NYSE:OLO - Get Free Report) insider Robert Morvillo sold 10,129 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $8.80, for a total transaction of $89,135.20. Following the completion of the transaction, the insider now directly owns 386,516 shares of the company's stock, valued at approximately $3,401,340.80. This represents a 2.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

OLO Price Performance

OLO traded down $0.15 during trading on Monday, reaching $8.77. 1,074,735 shares of the company's stock were exchanged, compared to its average volume of 1,265,091. Olo Inc. has a 1 year low of $4.20 and a 1 year high of $9.78. The company's fifty day simple moving average is $7.45 and its 200-day simple moving average is $7.26. The stock has a market capitalization of $1.46 billion, a P/E ratio of -87.69 and a beta of 1.58.

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

Institutional Trading of OLO

Hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new position in OLO in the fourth quarter valued at approximately $2,346,000. Norges Bank acquired a new position in shares of OLO in the 4th quarter valued at $5,181,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of OLO by 3.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,482 shares of the company's stock valued at $457,000 after purchasing an additional 1,740 shares during the period. Moloney Securities Asset Management LLC purchased a new stake in OLO during the fourth quarter worth $407,000. Finally, Ameriprise Financial Inc. grew its position in OLO by 2.0% during the fourth quarter. Ameriprise Financial Inc. now owns 672,841 shares of the company's stock valued at $5,167,000 after buying an additional 13,387 shares during the period. Hedge funds and other institutional investors own 93.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wall Street Zen downgraded OLO from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Lake Street Capital boosted their price target on OLO from $9.00 to $10.00 and gave the company a "buy" rating in a research note 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.

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