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

Olo Inc. (NYSE:OLO - Get Free Report) insider Sherri Manning sold 5,657 shares of the business'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 $49,781.60. Following the transaction, the insider now owns 297,926 shares of the company's stock, valued at $2,621,748.80. This represents a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

OLO Price Performance

OLO stock traded up $0.06 during midday trading on Thursday, hitting $8.70. 906,740 shares of the stock traded hands, compared to its average volume of 1,261,862. Olo Inc. has a 1-year low of $4.20 and a 1-year high of $9.78. The stock's fifty day simple moving average is $7.62 and its 200-day simple moving average is $7.29. The firm has a market cap of $1.44 billion, a P/E ratio of -86.99 and a beta of 1.58.

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

Institutional Trading of OLO

Several institutional investors have recently modified their holdings of OLO. Vanguard Group Inc. raised its position in shares of OLO by 2.7% during the 1st 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 during the last quarter. Dimensional Fund Advisors LP increased its stake in OLO by 6.3% during 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 in the last quarter. Nuveen LLC acquired a new position in shares of OLO during the first quarter valued at approximately $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 boosted its stake 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 worth $17,827,000 after acquiring an additional 757,617 shares during the last quarter. Institutional investors and hedge funds own 93.40% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on OLO. Wall Street Zen cut OLO from a "buy" rating to a "hold" rating in a 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 report 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.