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 shares were sold at an average price of $8.80, for a total transaction of $89,135.20. Following the sale, the insider now owns 386,516 shares in the company, valued at approximately $3,401,340.80. This represents a 2.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

OLO Trading Up 0.7%

OLO stock traded up $0.06 during midday trading on Thursday, reaching $8.70. The stock had a trading volume of 906,740 shares, compared to its average volume of 1,261,862. Olo Inc. has a 52-week low of $4.20 and a 52-week high of $9.78. The company's fifty day simple moving average is $7.62 and its 200 day simple moving average is $7.29. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -86.99 and a beta of 1.58.

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

Institutional Trading of OLO

A number of hedge funds have recently bought and sold shares of OLO. Nuveen LLC acquired a new position in shares of OLO during the 1st quarter worth approximately $15,330,000. Broadwood Capital Inc. acquired a new position in OLO during the first quarter worth $10,765,000. Driehaus Capital Management LLC acquired a new position in OLO during the fourth quarter worth $9,691,000. Arrowstreet Capital Limited Partnership grew its holdings in OLO by 138.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,895,935 shares of the company's stock valued at $14,561,000 after buying an additional 1,100,307 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of OLO by 274.6% in the 1st quarter. Bank of New York Mellon Corp now owns 1,351,488 shares of the company's stock worth $8,163,000 after acquiring an additional 990,719 shares during the last quarter. Institutional investors and hedge funds own 93.40% of the company's stock.

Analyst Upgrades and Downgrades

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

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.