OLO (NYSE:OLO) CFO Sells $300,007.25 in Stock

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 J. Benevides sold 29,269 shares of OLO stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $10.25, for a total value of $300,007.25. Following the transaction, the chief financial officer directly owned 672,792 shares in the company, valued at approximately $6,896,118. The trade was a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

OLO Price Performance

Shares of OLO stock remained flat at $10.26 during trading hours on Friday. Olo Inc. has a 1 year low of $4.56 and a 1 year high of $10.55. The company has a market capitalization of $1.74 billion, a PE ratio of 146.57 and a beta of 1.58. The firm has a 50-day moving average price of $10.23 and a 200 day moving average price of $8.42.

OLO (NYSE:OLO - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.07 earnings per share 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 company had revenue of $85.72 million for the quarter, compared to analysts' expectations of $82.23 million. During the same period in the previous year, the firm earned $0.05 earnings per share. The firm's quarterly revenue was up 21.6% on a year-over-year basis. On average, equities research analysts forecast that Olo Inc. will post -0.03 EPS for the current year.

Institutional Investors Weigh In On OLO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. raised its position in OLO by 15.6% during the second quarter. Ameritas Investment Partners Inc. now owns 11,791 shares of the company's stock valued at $105,000 after purchasing an additional 1,587 shares during the period. CWM LLC raised its position in OLO by 15.4% during the second quarter. CWM LLC now owns 11,907 shares of the company's stock valued at $106,000 after purchasing an additional 1,591 shares during the period. Cerity Partners LLC raised its position in OLO by 6.2% during the second quarter. Cerity Partners LLC now owns 27,912 shares of the company's stock valued at $248,000 after purchasing an additional 1,626 shares during the period. Savant Capital LLC raised its position in OLO by 5.0% during the second quarter. Savant Capital LLC now owns 35,338 shares of the company's stock valued at $315,000 after purchasing an additional 1,694 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in OLO by 3.0% during the fourth 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. 93.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.