Insider Selling: OLO (NYSE:OLO) COO Sells 38,275 Shares of Stock

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 G. Lambert sold 38,275 shares of the firm's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $10.25, for a total value of $392,318.75. Following the completion of the transaction, the chief operating officer owned 886,871 shares in the company, valued at $9,090,427.75. The trade was a 4.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

OLO Price Performance

Shares of NYSE OLO remained flat at $10.26 during mid-day trading on Friday. Olo Inc. has a fifty-two week low of $4.56 and a fifty-two week high of $10.55. The company has a market cap of $1.74 billion, a PE ratio of 146.57 and a beta of 1.58. The business's 50 day moving average is $10.23 and its 200 day moving average is $8.42.

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

Analyst Upgrades and Downgrades

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

Institutional Trading of OLO

Hedge funds have recently made changes to their positions in the company. Cullen Frost Bankers Inc. boosted its stake in shares of OLO by 171.6% during the second quarter. Cullen Frost Bankers Inc. now owns 3,430 shares of the company's stock valued at $31,000 after purchasing an additional 2,167 shares in the last quarter. Entropy Technologies LP acquired a new stake in shares of OLO during the second quarter valued at about $92,000. Corient Private Wealth LLC acquired a new stake in shares of OLO during the second quarter valued at about $92,000. Calamos Advisors LLC acquired a new stake in shares of OLO during the first quarter valued at about $63,000. Finally, SMI Advisory Services LLC acquired a new position in shares of OLO in the first quarter worth approximately $62,000. 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.