Insider Selling: OLO (NYSE:OLO) Insider Sells 5,608 Shares of Stock

Key Points

• Insider Trading: Olo Inc. insider Sherri Manning sold 5,608 shares at an average price of $10.25, totaling approximately $57,482, resulting in a 1.88% decrease in her position.
• Recent Earnings Report: Olo reported a quarterly earnings per share (EPS) of $0.07, missing expectations by $0.01, while revenue increased by 21.6% year-over-year to $85.72 million.
• Stock Ratings Update: Analysts have downgraded Olo's stock from "strong-buy" to "hold," with a current average price target of $10.17 following changes by multiple research firms.

Olo Inc. (NYSE:OLO - Get Free Report) insider Sherri Manning sold 5,608 shares of the business's 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 $57,482.00. Following the transaction, the insider owned 292,318 shares of the company's stock, valued at $2,996,259.50. This represents a 1.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

OLO Stock Performance

NYSE:OLO remained flat at $10.26 during midday trading on Friday. Olo Inc. has a one year low of $4.56 and a one year high of $10.55. The company has a market capitalization of $1.74 billion, a P/E ratio of 146.57 and a beta of 1.58. The firm's 50 day simple moving average is $10.23 and its 200 day simple moving average is $8.42.

OLO (NYSE:OLO - Get Free Report) last released 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 company had revenue of $85.72 million for the quarter, compared to analyst estimates of $82.23 million. During the same quarter in the prior year, the firm earned $0.05 EPS. The company's revenue for the quarter was up 21.6% compared to the same quarter last year. Equities research analysts predict that Olo Inc. will post -0.03 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on OLO. Truist Financial lowered OLO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 8th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $10.25 price target on shares of OLO in a research report on Monday, July 7th. Lake Street Capital lowered OLO from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Wall Street Zen lowered OLO from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Piper Sandler upped 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. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $10.17.

Institutional Investors Weigh In On OLO

Several hedge funds have recently bought and sold shares of the business. Evergreen Capital Management LLC lifted its stake in OLO by 170.7% in the 2nd quarter. Evergreen Capital Management LLC now owns 119,786 shares of the company's stock worth $1,066,000 after acquiring an additional 75,536 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in OLO by 182.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 19,965 shares of the company's stock worth $178,000 after acquiring an additional 12,891 shares in the last quarter. Corient Private Wealth LLC purchased a new stake in OLO in the 2nd quarter worth about $92,000. Tidal Investments LLC purchased a new stake in OLO in the 2nd quarter worth about $173,000. Finally, Lazard Asset Management LLC purchased a new stake in OLO in the 2nd quarter worth about $1,630,000. 93.40% of the stock is owned by hedge funds and other institutional investors.

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.