OLO (NYSE:OLO) CFO Peter Benevides Sells 29,269 Shares

Key Points

• Peter Benevides, the CFO of Olo Inc., sold 29,269 shares at an average price of $10.25, resulting in a total value of approximately $300,007 and a reduction of 4.17% in his holdings.
• Olo reported $0.07 earnings per share (EPS) for the last quarter, missing estimates by $0.01, while its revenue increased by 21.6% year-over-year to $85.72 million.
• Several analysts have downgraded Olo's stock rating to "hold," with target prices varying, including a recent target of $10.25 from Royal Bank Of Canada.

Olo Inc. (NYSE:OLO - Get Free Report) CFO Peter Benevides sold 29,269 shares of the business's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $10.25, for a total transaction of $300,007.25. Following the sale, the chief financial officer directly owned 672,792 shares of the company's stock, valued at approximately $6,896,118. The trade was a 4.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

OLO Stock Performance

Shares of OLO stock traded down $0.02 during mid-day trading on Tuesday, reaching $10.26. 7,328,958 shares of the company's stock traded hands, compared to its average volume of 2,505,043. Olo Inc. has a 12 month low of $4.56 and a 12 month high of $10.55. The firm has a 50 day moving average price of $10.17 and a two-hundred day moving average price of $8.34. The firm has a market capitalization of $1.74 billion, a PE ratio of 146.57 and a beta of 1.58.

OLO (NYSE:OLO - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.01). OLO had a negative net margin of 0.28% and a positive return on equity of 2.13%. The business had revenue of $85.72 million for the quarter, compared to the consensus estimate of $82.23 million. During the same period in the previous year, the firm earned $0.05 EPS. The company's revenue was up 21.6% on a year-over-year basis. As a group, equities analysts expect that Olo Inc. will post -0.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on OLO shares. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $10.25 target price on shares of OLO in a report on Monday, July 7th. Piper Sandler upped their target price on shares of OLO from $8.00 to $10.25 and gave the stock a "neutral" rating in a report on Monday, July 7th. Wall Street Zen downgraded shares of OLO from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Truist Financial downgraded shares of OLO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 8th. Finally, Lake Street Capital downgraded shares of OLO from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. Four analysts have rated the stock with a Hold rating, According to MarketBeat, OLO has an average rating of "Hold" and an average target price of $10.17.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in OLO. Northern Trust Corp boosted its holdings in shares of OLO by 8.0% during the 4th quarter. Northern Trust Corp now owns 1,016,295 shares of the company's stock valued at $7,805,000 after purchasing an additional 75,307 shares during the last quarter. Ameriprise Financial Inc. increased its stake in OLO by 2.0% during the fourth quarter. Ameriprise Financial Inc. now owns 672,841 shares of the company's stock worth $5,167,000 after acquiring an additional 13,387 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in OLO during the fourth quarter valued at approximately $3,320,000. Balyasny Asset Management L.P. raised its position in OLO by 67.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 138,770 shares of the company's stock valued at $1,066,000 after purchasing an additional 56,073 shares during the period. Finally, Brevan Howard Capital Management LP lifted its stake in shares of OLO by 45.4% in the 4th quarter. Brevan Howard Capital Management LP now owns 33,444 shares of the company's stock valued at $257,000 after purchasing an additional 10,442 shares during the last quarter. Institutional investors own 93.40% of the company's stock.

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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