Olo Inc. (NYSE:OLO) Insider Sherri Manning Sells 5,657 Shares

Olo Inc. (NYSE:OLO - Get Free Report) insider Sherri Manning sold 5,657 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $8.80, for a total value of $49,781.60. Following the completion of the transaction, the insider now directly owns 297,926 shares of the company's stock, valued at approximately $2,621,748.80. This trade represents a 1.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

OLO Stock Performance

NYSE:OLO traded down $0.15 during trading on Monday, reaching $8.77. The company's stock had a trading volume of 1,074,735 shares, compared to its average volume of 1,265,091. Olo Inc. has a 12 month low of $4.20 and a 12 month high of $9.78. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of -87.69 and a beta of 1.58. The firm has a 50 day moving average of $7.45 and a 200-day moving average of $7.26.

OLO (NYSE:OLO - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.01. The company had revenue of $80.68 million for 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 earned $0.05 EPS. Equities research analysts forecast that Olo Inc. will post -0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On OLO

Several institutional investors have recently bought and sold shares of the company. SCS Capital Management LLC purchased a new stake in OLO in the first quarter worth $146,000. Caxton Associates LLP bought a new stake in shares of OLO during the 1st quarter valued at $363,000. Dynamic Technology Lab Private Ltd boosted its holdings in OLO by 13.2% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,071 shares of the company's stock valued at $151,000 after purchasing an additional 2,922 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of OLO by 6.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 63,148 shares of the company's stock valued at $381,000 after purchasing an additional 3,666 shares in the last quarter. Finally, Broadwood Capital Inc. purchased a new stake in shares of OLO in the first quarter worth $10,765,000. Hedge funds and other institutional investors own 93.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Lake Street Capital raised their price objective on OLO from $9.00 to $10.00 and gave the company a "buy" rating in a report on Friday, May 9th. Wall Street Zen downgraded shares of OLO from a "buy" rating to a "hold" rating in a research note on Friday, May 30th.

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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