OLO (NYSE:OLO) Downgraded to "Hold" Rating by Wall Street Zen

Wall Street Zen downgraded shares of OLO (NYSE:OLO - Free Report) from a buy rating to a hold rating in a research note released on Saturday.

Separately, Lake Street Capital raised their price target on shares of OLO from $9.00 to $10.00 and gave the company a "buy" rating in a research report on Friday, May 9th.

OLO Price Performance

OLO stock traded up $1.21 during midday trading on Friday, hitting $10.12. 43,516,475 shares of the stock traded hands, compared to its average volume of 1,482,137. The firm has a market cap of $1.68 billion, a P/E ratio of 506.25 and a beta of 1.57. The stock's fifty day simple moving average is $8.55 and its 200-day simple moving average is $7.45. OLO has a 1-year low of $4.20 and a 1-year high of $10.14.

OLO (NYSE:OLO - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $80.68 million for the quarter, compared to analyst estimates of $77.47 million. OLO had a net margin of 1.09% and a return on equity of 1.46%. The firm's revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the business earned $0.05 earnings per share. On average, research analysts predict that OLO will post -0.03 earnings per share for the current year.

Insider Buying and Selling at OLO

In other OLO news, CFO Peter J. Benevides sold 23,078 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $8.80, for a total transaction of $203,086.40. Following the transaction, the chief financial officer directly owned 702,061 shares of the company's stock, valued at $6,178,136.80. This trade represents a 3.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Joanna G. Lambert sold 38,614 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $8.80, for a total transaction of $339,803.20. Following the transaction, the chief operating officer directly owned 925,146 shares in the company, valued at approximately $8,141,284.80. The trade was a 4.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 98,630 shares of company stock valued at $864,454. Insiders own 39.33% of the company's stock.

Hedge Funds Weigh In On OLO

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of OLO by 2.7% in the first quarter. Vanguard Group Inc. now owns 15,090,745 shares of the company's stock worth $91,148,000 after buying an additional 401,364 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of OLO by 6.3% in the fourth 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 purchased a new position in shares of OLO in the first quarter worth about $15,330,000. Geode Capital Management LLC lifted its stake 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 worth $18,945,000 after buying an additional 21,484 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted 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 buying an additional 757,617 shares in the last quarter. 93.40% of the stock is owned by hedge funds and other institutional investors.

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.