OLO (NYSE:OLO) COO Joanna Lambert Sells 38,275 Shares

Key Points

• Olo Inc. COO Joanna Lambert sold 38,275 shares at an average price of $10.25, decreasing her holdings by 4.14% to a total of 886,871 shares valued at approximately $9.09 million.
• The company's latest earnings report showed revenue of $85.72 million for the quarter, surpassing expectations, although it reported a loss of $0.01 per share compared to analysts' forecasts.
• Analysts have downgraded Olo's stock rating from "strong-buy" to "hold," with a consensus price target of $10.17, reflecting concerns about future performance.

Olo Inc. (NYSE:OLO - Get Free Report) COO Joanna Lambert sold 38,275 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $10.25, for a total value of $392,318.75. Following the transaction, the chief operating officer owned 886,871 shares in the company, valued at $9,090,427.75. This trade represents a 4.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

OLO Stock Performance

Shares of NYSE:OLO traded down $0.02 during midday 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 1 year low of $4.56 and a 1 year high of $10.55. The company has a market cap of $1.74 billion, a P/E ratio of 146.57 and a beta of 1.58. The company has a fifty day simple moving average of $10.17 and a two-hundred day simple moving average of $8.34.

OLO (NYSE:OLO - Get Free Report) last announced its earnings results 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 analysts' expectations of $82.23 million. During the same quarter last year, the business earned $0.05 EPS. The company's quarterly revenue was up 21.6% on a year-over-year basis. As a group, research analysts forecast that Olo Inc. will post -0.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of OLO

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cullen Frost Bankers Inc. increased its stake in shares of OLO by 171.6% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 3,430 shares of the company's stock worth $31,000 after acquiring an additional 2,167 shares during the last quarter. SMI Advisory Services LLC acquired a new stake in shares of OLO in the 1st quarter worth $62,000. Calamos Advisors LLC acquired a new stake in shares of OLO in the 1st quarter worth $63,000. Corton Capital Inc. acquired a new stake in shares of OLO in the 1st quarter worth $66,000. Finally, Entropy Technologies LP acquired a new stake in shares of OLO during the 2nd quarter worth about $92,000. 93.40% of the stock is owned by institutional investors and hedge funds.

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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