Insider Selling: OLO (NYSE:OLO) Insider Sells 10,736 Shares of Stock

Key Points

• Robert Morvillo, an insider at Olo Inc., sold 10,736 shares at an average price of $10.25, totaling $110,044, reducing his stake by 2.78%.
• OLO's stock price dipped by 0.2% to $10.26, while the company reported a 21.6% year-over-year revenue growth of $85.72 million.
• Several research firms have dropped ratings on OLO to "hold," with an average target price of $10.17, as analysts project negative earnings per share for the upcoming fiscal year.

Olo Inc. (NYSE:OLO - Get Free Report) insider Robert Morvillo sold 10,736 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $10.25, for a total transaction of $110,044.00. Following the completion of the sale, the insider directly owned 375,780 shares in the company, valued at approximately $3,851,745. The trade was a 2.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

OLO Price Performance

OLO stock remained flat at $10.26 during trading hours on Friday. Olo Inc. has a 12-month low of $4.56 and a 12-month high of $10.55. The stock has a fifty day moving average of $10.23 and a 200 day moving average of $8.42. The company has a market capitalization of $1.74 billion, a P/E ratio of 146.57 and a beta of 1.58.

OLO (NYSE:OLO - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.07 EPS for the quarter, missing the consensus estimate 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 business had revenue of $85.72 million for the quarter, compared to the consensus estimate of $82.23 million. During the same period in the prior year, the business posted $0.05 earnings per share. The firm's revenue for the quarter was up 21.6% compared to the same quarter last year. As a group, analysts expect that Olo Inc. will post -0.03 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Piper Sandler increased their price target on shares of OLO from $8.00 to $10.25 and gave the stock a "neutral" rating in a research report on Monday, July 7th. Truist Financial lowered shares of OLO from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 8th. Wall Street Zen lowered shares of OLO from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Lake Street Capital lowered shares of OLO from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Finally, Royal Bank Of Canada restated 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, Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $10.17.

Hedge Funds Weigh In On OLO

A number of hedge funds have recently modified their holdings of OLO. Cullen Frost Bankers Inc. lifted its holdings 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 worth $31,000 after purchasing an additional 2,167 shares during the period. SMI Advisory Services LLC bought a new stake in OLO in the first quarter valued at $62,000. Calamos Advisors LLC bought a new stake in shares of OLO during the first quarter worth about $63,000. Corton Capital Inc. bought a new stake in shares of OLO during the first quarter worth about $66,000. Finally, Entropy Technologies LP bought a new stake in shares of OLO during the second quarter worth about $92,000. Institutional investors and hedge funds own 93.40% of the company's stock.

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.