OLO (NYSE:OLO) Insider Sherri Manning Sells 5,608 Shares

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 stock in a transaction dated 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 directly owned 292,318 shares in the company, valued at approximately $2,996,259.50. This represents a 1.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

OLO Stock Performance

Shares of NYSE OLO traded down $0.02 during mid-day trading on Tuesday, reaching $10.26. 7,331,360 shares of the company traded hands, compared to its average volume of 2,505,060. The stock has a market cap of $1.74 billion, a PE ratio of 146.57 and a beta of 1.58. The company's fifty day moving average is $10.17 and its two-hundred day moving average is $8.34. Olo Inc. has a fifty-two week low of $4.56 and a fifty-two week high of $10.55.

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

Institutional Trading of OLO

A number of hedge funds have recently modified their holdings of OLO. Cullen Frost Bankers Inc. lifted its position 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 period. SMI Advisory Services LLC bought a new stake in shares of OLO in the 1st quarter worth approximately $62,000. Calamos Advisors LLC bought a new stake in shares of OLO in the 1st quarter worth approximately $63,000. Corton Capital Inc. bought a new stake in shares of OLO in the 1st quarter worth approximately $66,000. Finally, Entropy Technologies LP bought a new stake in shares of OLO in the 2nd quarter worth approximately $92,000. Institutional investors own 93.40% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Lake Street Capital lowered OLO from a "strong-buy" rating to a "hold" rating in a 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. Piper Sandler upped their price target on OLO from $8.00 to $10.25 and gave the stock a "neutral" rating in a report on Monday, July 7th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $10.25 price target on shares of OLO in a report on Monday, July 7th. Finally, Truist Financial lowered OLO from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 8th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $10.17.

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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